New Delhi, Dec 18 (KNN) Federation of Indian Micro and Small & Medium Enterprises (FISME) has launched a portal to capture the grievances of MSMEs related to Banks.

The portal was launched by Convenor of group ‘Friends of MSMEs in Parliament’ Rajendra Agrawal recently in the 3rd Samwad- dialogue with MSMEs in New Delhi.

“Business environment has become extremely dynamic but the processes of Banks though digitally enabled have become more rigid. Branch managers today are a poor shadow of their empowered predecessors who could take fast decisions. Therefore, grievances of MSMEs are piling unaddressed”, according to Neeraj Kedia, Chairman, Banking Committee of FISME. 

“FISME has been continuously receiving complaints about excesses of Banks about such as over charging interest rates, Foreclosure charges from MSEs, Not-releasing documents after payment of dues, Sanctions or disbursement delay, Demand for additional collateral, Unfair loan agreement, Non-compliance charges, Freezing services without intimation etc,” he added.

The portal bankgrievances.com enables MSMEs online complaint filing and tracking.

Besides Convenor of the group  Rajendra Agrawal, MP (Meerut, UP), Members of Parliament  present during the launch were Jagdambika Pal, MP (Dumariya Ganj, UP), Pradeep Kumar Chaudhary, MP (Kairana, UP), Dilip Saika MP (Mangaldoi, Assam), Ramesh Chander Kaushik, MP (Sonipat, Haryana), Subhash Chand Baheria, MP (Bhilwara, Rajasthan), and Sankar Lalwani, MP (Indore, Madhya Pradesh).

MPs asked MSMEs to share their difficulties on the portal and promised to take up the collective issues with higher authorities including Ministers.  

(KNN Bureau)