Union minister for Small and Medium Enterprises Nitin Gadkari inaugurated the zonal office of Indian Bank in Nagpur on Saturday. After inauguration, Gadkari, who is also the Highways and Road Transport Minister in Union Cabinet said, the Modi government 2.0 has taken various initiatives to expedite loan disbursal to micro, small and medium enterprises.
“Prime Minister Narendra Modi has said that bank loans in the MSME (micro, small and medium enterprises) sector will be sanctioned in 59 minutes and it will be connected with GST and Income tax. Those having a good track record get their loans sanctioned quickly,” he said.
He also admitted that banking sector has been facing a lot of challenges on various fronts and timely repayment of loan is needed for the health of bank.
“People should also pay their dues to banks on time as banking sector is already facing a lot of challenges and problems. Similarly, in this time financing with transparency and return on that finance has certainly become a big examination for banks,†he added.
Gadkari further added that it was incumbent upon banks to ensure that loans sanctioned under various public welfare schemes get disbursed quickly.
He also emphasised the need to encourage the handloom and handicraft industry for creating employment opportunities and boosting growth in the MSME sector.
The minister said “Solar Charkha” cluster will be launched in the cotton belt of Vidarbha from where export quality ready-made garments will be manufactured.
“Solar Charkha” is the initiative of the MSME ministry to ensure inclusive growth by generation of employment, especially for women and youth, and sustainable development through solar charkha clusters in rural areas. Gadkari also talked about giving additional land to HCL Technologies operating in Multi-modal International Cargo Hub and Airport.
Get the latest Nagpur Business news and updates about the city’s economy, business, and  market. For an exclusive & live updates from the Nagpur, stay connected with THE LIVE NAGPUR.
