Minister of State for Finance & Corporate Affairs Anurag Singh Thakur on Tuesday said that economic growth remains high on the agenda of the Government and to boost the Economic growth further various measures has been announced in the Budget 2019-20.
Five of India’s leading public sector lenders including State Bank of India, Andhra Bank, Corporation Bank, Oriental Bank of Commerce, and Union Bank of India have come together to facilitate the raising of loan by MSMEs in an easier way through PSBloansin59minutes.com — an online marketplace.
Share of exports of products related to India’s micro, small and medium enterprises (MSME) during the year 2018-19 stood at 48.10 per cent as per the information from Directorate General of Commercial Intelligence and Statistics, MSME Minister Nitin Gadkari said in a written reply in Rajya Sabha on Monday.
Government of India has made the loan taking process for micro, small and medium scale enterprises (MSME) easy and accessible.
The textile industry, fuelling growth in the State besides providing direct employment to thousands of semi-skilled workers, is now staring at a crisis after the spinning mills have declared a production holiday beginning on July 22.
MADURAI, “Micro, small and medium enterprises (MSMEs) do deserve bank support and Indian Bank is working with various clusters to improve lending to them. We have 50 specialised branches, including in Madurai, for this,” said Padmaja Chunduru, Managing Director and CEO of the bank.