Stalin urges banks to extend credit to MSMEs hit hard by COVID pandemic
Chennai, Oct 25 (UNI) Tamil Nadu Chief Minister M.K.Stalin today
appealed to the banks to extend credit to MSMEs, self employed
and education loan to the students.
Addressing the State Level Bankers meet here, he said the state
government will set up a credit guarantee fund to enable banks and
other financial institutions to lend to MSMEs.
Pointing out that the state government has been implementing three
self employment schemes based on bank loans, he said of the
137,429 loan applications recommended by the state government
only 35.67 per cent has been allowed and this number has to be
increased.
Mr Stalin said the main aim of the state government was to uplift the
MSME units hit by the Covid-19 pandemic and urged the bankers to
support the sector