Banks should offer specific credit schemes for MSMEs in Kerala: Minister Rajeeve

New Delhi, Mar 28 (KNN) Kerala Industries, Law and Coir Minister P Rajeeve has urged the banks in the state to extend support by offering specific credit schemes for MSMEs, which will boost the measures adopted as part of development programmes.

Inaugurating the 13th State Forum of Bankers Clubs Kerala (SFBCK) Banking Excellence & Businessman of the Year award presentation function, the Minister said FY 22-23 be considered as the Year of Enterprise for Kerala, thereby aiming for 1 lakh enterprises to get kick-started.

Speaking on the occasion, Adeeb Ahamed, MD of Lulu Financial Holdings mentioned about the digitization in the foreign inward remittance front to India and the impact of UPI on the payment systems across the world. 

He termed crypto as a major player in the future, with the economies being friendly with their regulations on crypto currencies.

He added that USD 10 billion transaction has been remitted through Lulu Exchange which includes 4 percent of the global volume remitted to India alone. Inward remittance to India amounted to USD 87 billion during last year, of which Kerala accounted for the highest share among Indian states at 20 percent.

The Bank of Maharashtra was named the best bank based on its performance during the fiscal year 2020–21, followed by Indian Bank and State Bank of India, which came in second and third place, respectively, based on their performance during the fiscal year 2020–21. (KNN Bureau)