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Cluster development need of the hour: MSME Minister
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SME Times News Bureau | 19 Oct, 2012
Minister for Micro, Small and Medium Enterprise (MSME), Vayalar Ravi Thursday said cluster development should be a priority business strategy for the sector.
The
minister said guidelines for the cluster development programme have
been comprehensively prepared to provide higher support to the SMEs.
"With
this, more than 500 clusters spread across the country have so far been
taken up for diagnostic study, soft interventions and setting up of
common facility centres under the program," Ravi said at a event in New Delhi.
"The efforts under the scheme are focused on covering more and more clusters across the country," he added.
Stating
that access to capital and cost of capital are the biggest challenges
for mid-size and emerging corporate business, the minister elaborated
the schemes the ministry is running for collateral-free credit.
He said eight lakh proposals have already been approved under this scheme and urged SMEs to take advantage of it.
He also said that today access to capital and cost of capital are the
biggest challenges for mid size and emerging corporate business. "Credit
ratings become even more relevant in times of stress as they not only
facilitate faster access to capital but also favourable terms of
borrowings."
"Adequate credit is paramount to the
success of the micro and small enterprises. The micro and small
enterprises have traditionally relied on debt financing from banks and
non-bank financial institutions. MSEs primarily rely on bank finance for
a variety of purposes including purchase of land, building, plant and
machinery as also for working capital. However, even for bank financing,
they have to provide collateral security," said T|Ravi.
"To ensure better flow of
credit to MSEs by minimizing the risk perception of banks / financial
institutions in lending without collateral security, the Government is
implementing the Credit Guarantee Scheme. The scheme provides guarantee
cover of up to 85% on collateral-free credit facility extended by
lending institutions to new and existing MSEs for loans up to Rs.100
lakh. More than 8 lakhs proposals have been approved under the Scheme so
far., the minister added.
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CLUSTER DEVELOPMENT
PRAMOD KHANDEKAR | Tue Oct 30 08:35:42 2012
I WOULD LIKE TO KNOW WHERE TO APPROACH FOR THE INFORMATION ON THE SCHEMES THE MINISTRY IS RUNNING FOR COLLATERAL FREE LOANS FOR MSME SO AS TO AVAIL OF THOSE SCHEMES.
Rural banks not giving collateral-free credit
V P Jagadeesan | Wed Oct 24 11:23:11 2012
Dear sir,
rural banks not giving collateral loan and collateral-free loans. Please check example for Tiruvallur dist Pallipet Indian Bank and SBI Athimanjeripet banks not giving MSME loans. Yours, V.P. Jagadeesan
09949380811
Power supply
RAVINDER RAJ | Wed Oct 24 07:34:41 2012
FIRST THE GOVERNMENT SHOULD DO SOME THING ON CURRENT BECAUSE IN ANDHRA PRADESH THE INDUSTRIES ARE WORKING FOR 3DAYS ONLY PER WEEK IF THERE IS NO CURRENT HOW THEY RUN INDUSTRIES SO PLEASE LOOK FOR IT FIRST. THOSE WHO ARE INTERESTED TO ESTABLISH INDUSTRY THEY WILL. IF THERE IS CURRENT SHORTAGE WHAT IS THE USE OF GIVING ALL THESE.
VERY IMPORTANT MESSAGE FOR SME
MANOHAR BHOJWANI | Wed Oct 24 05:20:51 2012
CLUSTER DEVELOPMENT IS IMPORTANT ISSUE FOR DEVELOPMENT OF SME SECTOR & ALSO WORKING CAPITAL COLLATERAL FREE LOAN IS VITAL FOR SME SECTOR
CGS
A K Jain | Wed Oct 24 01:17:18 2012
Generally no bank branch is interested to finance collateral free loan, due to their inherent responsibility and risk.
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