Govt mulls Financial Facilitation Centres for MSMEs

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SME Times News Bureau | 26 Jul, 2016
To speedup loan facility to the micro, small and medium enterprise (MSME) sector, the government is considering setting up Financial Facilitation Centres (FFCs), ministry of MSME has informed this on Tuesday.

"Ministry of MSME is considering setting up of Financial Facilitation Centres (FFCs) through NSIC at identifiable places for the benefit of MSMEs in accessing credit," Minister of State for MSME, Giriraj Singh said in a written reply to the Lok Sabha.

He said, "The role of these FFCs will be to disseminate information about MSME schemes offered by Banks / Financial Institutions, to create awareness about FFCs amongst larger number of MSMEs, to operate as a nodal point and to coordinate with the banks for speedy disposal of credit proposals.

The minister replied this against a question - whether the Government proposes to open credit facilitation centres for MSMEs clusters existing in the country? The question was raised by Meenakshi Lekhi in Lok Sabha.

However the minister had maid it clear that there is no such proposal to open the Credit Facilitation Centre for MSMEs clusters in the country.