Muniyappa asks banks to enhance credit to Assam MSMEs

K.H. Muniyappa, Union Minister of state for micro, small and medium enterprises (MSME), on Wednesday said that banks would be told to enhance credit flow to small units in the (Assam) state. The credit ratio in Assam is only 40-50 per cent at present while the national average is about 70 per cent.

"All the commercial banks should achieve a 20 per cent growth in credit year-on-year to micro and small enterprises and strictly adhere to the allocation of 60 per cent thereof to micro enterprises to ensure enhanced credit flow," Muniyappa told media persons in Guwahati after a high-level meeting with Assam Chief Minister Tarun Gogoi and senior officials.

During the meet, he said, "The mission of our Ministry is to promote growth and development of MSMEs, including khadi, village and coir industries, in cooperation with concerned ministries, departments, state governments and other stakeholders."

Muniyappa also asked CM Gogoi to instruct deputy commissioners to prepare the list of beneficiaries within a time-frame of three months for extending loan assistance and banks have been instructed to advance loans to such enterprises without asking for collateral guarantee.

The Union Minister said the margin money for khadi and village industries would be raised from Rs 66 crore to Rs 100 crore which would benefit 12,000 beneficiaries during 2013-14.

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