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2014-07-07

Karnataka Govt forming a scheme to back new units in villages

The Karnataka government is forming a scheme to provide Rs 10-lakh financial assistance for those who are setting up their units in the rural parts of the state.

The Karnataka government is forming a scheme to provide Rs 10-lakh financial assistance for those who are setting up their units in the rural parts of the state.



Explaining this , M Shivashankar, Joint Director, Mysore District Industries Centre (DIC),  said, at the weekend, the scheme was being modelled on the lines of the Central scheme that offers Rs 25 lakh loan facility for those young entrepreneurs who established new industries under the PMEGP scheme.
 

He said, those aspiring to start small industries believe that obtaining a bank loan is difficult.
 

He also said that banks should properly inform such entrepreneurs of all details on the documents required to sanction a loan and guide them properly. He said this while addressing an awareness programme on ‘Sustainable Financing to Optimise Growth of MSMEs’, jointly organised by the Assocham Mysore Industries Association (MIA) and DIC.

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