Coimbatore, Jun 20 (KNN) In a bid to simplify and expedite procedures for giving bank loans to Micro, Small and Medium Enterprises (MSME), the Tamil Nadu government is planning to create a portal, said Local Administration Minister S P Velumani.

Speaking at a meeting with senior bank officials and industrialists here, on Friday, Velumani said the portal would be helpful to banks and industrialists.

''The industrialists don't have to rush to the banks for loans during a COVID-19 like situation, as they can file the required documents through the portal,'' he said.

The suggestions made at the meeting would be forwarded to the Union Finance Minister Nirmala Sitharaman.

Velumani also said that Coimbatore district has more than 1.5 lakh MSMEs with 15 lakh workers and a loan of Rs 554 crore has been given to 8,284 small industries during the virus-induced lockdown period.