Industry seeks guidelines on collateral-free loans
MSME and Road Transport and Highway Minister Nitin Gadkari has called for suggestions for effective implementation of Fund of Funds announced as part of the relief package for MSMEs.
There is need to explore Agro MSME and Fishing MSME sector, Gadkari told representatives of Business Network International and MM Activ Sci-Tech Communications via video conferencing on “Impact of COVID-19 on MSMEs” and “Future of Indian Industry after 20 lakh crore package” respectively.
Speaking on 17 May 2020, he urged the industry to focus more on innovation, entrepreneurship, science and technology, research skill and experiences to convert the knowledge into wealth.
Gadkari also took notes during the 17 May 2020 video conference with the industry representatives.
These included request for increasing the limit of MUDRA loans to Rs.25 lakh to benefit micro enterprises and issuance of simple guidelines for recently announced Rs.3 lakh crore collateral-free automatic loans for MSMEs among others.
Responding, the Minister assured all possible help from the government.
He emphasized that industry should take a positive approach and tap the opportunities that will be created when the COVID-19 crisis gets over. fiinews.com
