Finance Ministry asks MSMEs to visit their bank branches to seek necessary support & assistance under MSME outreach initiative

New Delhi, Dec 6 (KNN) The Department of Financial Services under the Ministry of Finance, Government of India has launched Micro, Small and Medium Enterprises Outreach Initiative from December 7, 2019 to January 6, 2020.

The initiative is to support MSMEs, where all Public Sector Banks will offer enhancement in working capital limits for Standard Accounts up to 25 per cent of the working capital limits.

Under the initiative restructuring of stressed standard assets, as needed, on priority and in timely manner will also be done.

New term loans and solutions for delayed receivables and Bill Discounting and Trade Finance will also be done under the initiative.

The Department has invited the MSME customers to visit their bank branches for necessary support and assistance. (KNN Bureau)