Some of the Members raised the issue of extending collateral free loans upto Rs.5,00,000 to the MSME Sector (both manufacturing and services enterprises) to which Shri Prasad said the Reserve Bank of India (RBI) had already issued a circular on 21st September 2007 to all scheduled commercial banks that they should extend collateral free loans up to Rs.5,00,000 to the units of MSME Sector as defined under MSMED Act 2006.
RBI advised all scheduled commercial banks to issue necessary instructions to the branches/controlling offices in this regard, the Minister added.
Some of the Members raised the issue of steel price hike, which was affecting the micro and small industries. The Minister assured the Members that the issue would be taken up at the appropriate level.
Representatives of MSME Associations and Trade Unions, from all over the country and senior officials of various ministries from the central as well as the state governments participated in the daylong deliberations.
Press Information Bureau Government of India
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