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2009-11-20

Finmin, RBI will direct banks to better MSME credit

The finance ministry and the Reserve Bank of India (RBI) will direct banks to increase credit flow to the micro small and medium enterprises (MSME).

The recently formed task force discussed ways to enhance credit to the sector, which contributes 45 per cent to the economy, 40 per cent to the total export and employs 4.2 crore people. The group also discussed reports on credit and revival of sick units.
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