SME Times News Bureau | 18 Feb, 2019
MSME Minister Giriraj Singh recently urged that the banks should provide
collateral free loans to SC and ST entrepreneurs and in case of non-acceptance
of loan banks should also be responsible to provide reasons for non- sanction,
so that the entrepreneur can look for alternative options.
He added that the Banks are key promoters for the financial inclusion of
Information is a key factor that can expedite loan procurement by MSMEs as
well as allow them to utilise it judiciously, said Ram Mohan Mishra, Additional
Secretary & Development Commissioner, MoMSME.
He highlighted that most MSE players lack the expertise to understand and
predict the complicated market dynamics which act as a hindrance in seeking
He therefore urged the private companies, industry associations and other
bodies who have the knowledge, reach and expertise, to provide requisite
know-how and market landscape to steer the entrepreneurs in the right
Arun Kumar Panda, Secretary MoMSME, seconded the thought and urged all MSME
entrepreneurs to register at the online portals such as GSTIN, Udyog Aadhar,
Sambandh Portal etc. to receive the updates from time to time on availability
of loans, schemes as well as requirements of PSUs.
Alka Arora, Joint Secretary, Ministry of MSME said that to assist
entrepreneurs with respect to loan procurement as well as information
assistance, the MoMSME has taken many initiatives.
The National SC/ST Hub established by the MoMSME, is one such initiative to
provide professional support to SC/ST entrepreneurs and has set up offices in
Along with multiple schemes initiated by the NSSH, the Private Affirmative
Action Scheme would increase the diversity and more private sector
opportunities for SC/ST entrepreneurs.
The inclusion of SC/ST entrepreneurs along with MSME business owners is
mandatory for meeting the objective of employment generation and financial
inclusion, said Shreekant Somany, Chairman CII National MSME Council.