MSME Ministry to take up bank related credit issue with Finance Ministry

Mumbai, Aug 22 (KNN) The Ministry of MSME has received numerous complaints from entrepreneurs with regards to bank credit and the matter will be discussed with the Finance Ministry, said Union Minister Narayan Rane.

He was speaking at an event hosted by Institute of Chartered Accountants of India (ICAI) and IMC Chamber of Commerce and Industry last week.

The Minister acknowledged that in order for the MSME sector to scale up it is imperative to get rid of the hurdles faced by the MSMEs in setting up new industries such as lack of ease in securing bank credit.

He was answering the question which raised the issue about banks not releasing the amount to entrepreneurs despite of the various declared schemes by the government.

“We will meet with the finance ministry for this. There might be challenges for banks as well,” replied the minister.

“Such challenges including infrastructure and other government schemes related should be solved for our youth looking to enter the industry,” he added.

ICAI and IMC had launched a 75-day-long MSME Yatra programme from Mumbai to support MSMEs.

It aims to coordinate, synergize and leverage the various strands of excellence driving innovation and entrepreneurship.  (KNN Bureau)