Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2012-03-16

Outstanding MSEs bank credit alarm Virbhadra Singh

In a written reply to a question in the Lok Sabha over rising outstanding bank credit of a provisional amount of Rs 3,76,625 crore to Micro and Small Enterprises (MSEs), Union Minister for Micro, Small & Medium Enterprises (MSMEs), Virbhadra Singh cited R

Outstanding MSEs bank credit alarm Virbhadra Singh

In a written reply to a question in the Lok Sabha over rising outstanding bank credit of a provisional amount of Rs 3,76,625 crore to Micro and Small Enterprises (MSEs), Union Minister for Micro, Small & Medium Enterprises (MSMEs), Virbhadra Singh cited Reserve Bank of India’s (RBI) guidelines to all scheduled commercial banks over lending to MSMEs and providing time frame for dispensing the loan applications and loan limit to release the collateral demand for MSEs.

Noting the Task Forces of Prime Minister recommendations to RBI, he said that RBI has advised the banks to achieve a 20 per cent year-on-year growth in credit to MSEs and a 10 per cent annual growth in the number of Micro Enterprises accounts.

Narrowing down to Micro Enterprises, the minister added that, “As per the RBI’s extant guidelines to banks, 60 per cent of MSEs advances should go to the Micro Enterprises and this is to be achieved in stages viz., 50 per cent in the year 2010-11, 55 per cent in 2011-12 and 60 per cent in 2012-13.”

Among all this, he also stressed on registration of MSMEs as a precursor to the financial benefits by the MSME Ministry while taking a liberal stand for the unregistered one to get assistance from banks.

Highlighting the performance by MSE sector in the last decade, the minister pointed the latest figures to the rise of its Gross Domestic Product (GDP) share by Central Statistics Office, Ministry of Statistics and Programme Implementation, from 5.84 per cent in fiscal year 2004-05 to 8.72 per cent in 2008-09.

In terms of employment generation, the All India Census of Micro, Small & Medium Enterprises, government’s apex body monitoring employment by MSMEs in its last census of 2006-07 reported a total of 93.09 lakh employments among the 5.94 per cent registered MSMEs in the country out of a total of 261.01 lakh units. In contrast, the unregistered ones as per the ‘Quick results: Fourth All India census of MSME 2006-07 employed as many as 502.57 lakh people, mentioned Singh.

Related opportunities
  • Ice Creams & Yogurt Parlors
    About Us: The Gelato King is one of the premium brands..
    Locations looking for expansion Delhi
    Establishment year 2019
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 120
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi Delhi
  • Ice Creams & Yogurt Parlors
    Greetings from Cream N Kulfi !!! A flavour for now and..
    Locations looking for expansion Tamil nadu
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Sivakasi Tamil nadu
  • Travel Agents
    About Us: India Assist works on a centralised mechanism to offer..
    Locations looking for expansion Delhi
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size
    Space required 50
    Franchise Outlets -NA-
    Franchise Type MultiUnit
    Headquater New Delhi Delhi
  • Hospitals
    About Us: Within a short but dynamic span of 8 years,..
    Locations looking for expansion Haryana
    Establishment year 2016
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 1600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
ads ads ads ads