New Delhi, Jan 3 (KNN) Eyeing at facilitating credit to the Micro, Small and Medium Enterprises (MSMEs) in the country, the PHD Chamber of Commerce and Industry (PHD-CCI) recently singed collaboration with the IDFC bank.

The main focus of the MoU between the PHDCCI and IDFC would be to facilitate credit support to the MSMEs in the country.  Also the chamber will assist the micro, small and medium enterprises with the documentation procedures.

The MSMES will be assisted with making their proposals and also proceed for the follow-up with the bank, the chamber informed.

Commenting over the latest development, Richa Mishra, Regional Head Business Banking at IDFC informed that the MSMEs including manufacturing, trading and business services will now be able to approach the bank for working capital and term loans.

The need of the hour is to provide the MSMEs with a good banking solution that could understand the requirements of the unit and also deal with the applications in a time bound manner, Richa added. (KNN/ DA)