Chhattisgarh MSMEs want lenient norms for loans under MUDRA Scheme

Raipur, Mar 21 (KNN) The Chhattisgarh government has recently disbursed more than Rs 1500-crore loans to several beneficiaries under the Pradhan Mantri MUDRA (Micro Units Development and Refinance Agency) Yojana (PMMY), but the entrepreneurs feel that its difficult to get loan beyond Rs 1 lakh under the scheme.

Talking to KNN, Vinod Kumar Beniwal, President, Urla Industries Association, Chhattisgarh, said, “We come across many problems while applying for MUDRA loan. They give the loan under the MUDRA scheme just like they give the other loans.”

“When the MSMEs apply for a loan above Rs 1 lakh, they ask for income tax return of last three years,” he said adding that, “What we feel is that the entrepreneurs apply for the MUDRA loan mainly because they don’t have much income. So looking at our returns for loan eligibility doesn’t help us.”

The norms under the MUDRA loan should be little lenient than that of the normal loans, he said.

The scheme was launched in April 2015 and was aimed to provide funding to the non-corporate, small business sector. (KNN Bureau)