Chandigarh, May 14 (KNN) Under the new industrial policy the Haryana government has decided to create a corpus of Rs 1,000 crore with the central assistance to provide credit to MSME sector without collateral security. 

While addressing at the state-level Bankers’ Committee, Haryana Principal Secretary, Industries and Commerce, Devender Singh has said that the state government is trying to create a corpus of Rs 100 crore while the Central government will top it up with Rs 900 crore.

He said that it will be a state specific collateral free credit guarantee scheme (for MSME). 

Under collateral free loans, banks can lend up to Rs 10 lakh to MSME sector without any security. Singh informed that the Non-Performing Assets was lower at 1.2 per cent in collateral free loans.

The Haryana government had already announced coming up with a new industrial policy for the state. (KNN Bureau)