Banks Ready To Back Viable MSME Projects
The meeting discussed loan facilities, government-sponsored schemes and faster scrutiny of proposals: Reports
VIJAYAWADA: Banks are prepared to extend financial assistance to eligible and viable micro, small and medium enterprises (MSMEs) after proper evaluation, officials said at a special coordination meeting held at the Union Bank of India Zonal Office in One Town, Vijayawada, on Friday.
State Level Bankers’ Committee (SLBC) convener and Union Bank of India General Manager K. Sridhar Babu chaired the meeting. It was attended by Khadi and Village Industries Commission (KVIC) Andhra Pradesh director Dr S. Greep, district industries centre general manager M. Madhu, senior bank officials, industry representatives and MSME entrepreneurs.
The meeting discussed loan facilities, government-sponsored schemes and faster scrutiny of proposals. Sridhar Babu urged entrepreneurs to present project proposals with details of costs, market opportunities, operational requirements, estimated income and expenditure, and repayment capacity to ensure quicker approvals.
He stressed that loans must be used strictly for business purposes and that enterprises should maintain smooth operations and repay dues on time.
Officials decided that banks, the district industries centre, KVIC and other departments would provide guidance on documentation, scheme eligibility and preparation of feasible project proposals. Continuous coordination among banks and government agencies was emphasised for timely disposal of MSME loan requests.
UBI regional head M.V. Tilak, AGM (MLP) Venkateswara Rao, APIIC zonal head Rahim, AGM Shyam, NTR district LDM Venkata Subbiah, along with bank officials, industry representatives and entrepreneurs, participated in the deliberations.
