Ludhiana, July 30 (KNN) Union Bank of India has provided Rs 68.12 crore to 28 micro, small and medium enterprises (MSMEs) recently at a credit camp in Ludhiana.

It has been sanctioned under cluster schemes for technology upgradation to keep up with the international quality of manufacturing. 

The MSME Credit Camp was organised by the Union Bank of India in collaboration with Federation of Industrial and Commercial Organization (FICO).

Speaking about the credit sanctions Gurmeet Singh Kular, president FICO said, “Rs. 68.12 crore to 28 MSMEs have been provided in clusters schemes for technology upgradation.” 

Calling it the need of the hour, he said technology needs to be updated to meet the global standards of manufacturing.

The aim of the credit camp was to enhance cluster-specific scheme of financing hosiery, cycle and auto parts manufacturing MSME units.

Arun Kumar, general manager of Central Office Union Bank, explained the various credit schemes for MSME sector to boost manufacturing. 

Further during the campaign other 18 leads of Rs 185 crore have been discussed.  (KNN Bureau)