Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2012-06-13

Pranab stresses on improving MSME credit flow

Finance Minister, Pranab Mukherjee stressing on the availability of adequate finance to MSMEs, urged banks to focus on enhancing credit flow to MSME entrepreneurs as a target group. This will not only help economy to be back on track but also achieve the

Finance Minister, Pranab Mukherjee stressing on the availability of adequate finance to MSMEs, urged banks to focus on enhancing credit flow to MSME entrepreneurs as a target group. This will not only help economy to be back on track but also achieve the goal of inclusive development.

"Adequate finance for MSMEs not only has potential to revive the economy but also helps in achieving our cherished goal of inclusive development." Mukherjee said while speaking to the Chiefs of Public Sector Banks (PSBs) and Financial Institutions (FIs) in New Delhi on Tuesday.

"We have changed the orientation of Small Industries Development Bank of India (SIDBI) to fill the gaps in MSME eco-system. Banks have the most crucial role to provide finance and banks should focus on entrepreneurs of this target group particularly those requiring micro finance," the minister added.

Mukherjee also asked banks to reduce non-performing assets (NPAs) for the financial health of the sector.

"I am happy that banks have taken up the challenge to reduce NPAs and made a record recovery against prudential write-off in the last quarter ending March 2012... I urge you to deploy various tools at your command for containing and rolling back NPAs in accordance with the guidelines of the Reserve Bank of India," he said.

There has been reduction in gross NPAs from the level of 3.18 percent in December 2011 to 3.10 percent in March 2012.

Minister said the recent decisions on restructuring of loans in the textile sector and power distribution companies were good examples of NPA management.

Related opportunities
  • Quick Service Restaurants
    About Us: The One And Only "MOC The American Restaurant" A perfect..
    Locations looking for expansion Delhi
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Transportation
    InXpress has its origins in the world's largest business management..
    Locations looking for expansion Maharashtra
    Establishment year 2011
    Franchising Launch Date 2013
    Investment size Rs. 5lac - 10lac
    Space required 00
    Franchise Outlets 20-50
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Others Food Service
    About Us: Wicked China is a place that serves up Chinese..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 2500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Juices / Smoothies / Dairy parlors
    About Us: ICE LAB CAFE is a Dubai based Franchise that..
    Locations looking for expansion Jharkhand
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 20lac - 30lac
    Space required 200
    Franchise Outlets Less than 10
    Franchise Type Unit
    Headquater Jamshedpur Jharkhand
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
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