The Indian government has said it is in the process of developing a review mechanism to find out the number of loan applications received and processed by the banks concerned to facilitate easy financing to small and medium enterprises.
Representatives of industries and banks would be joining hands to monitor the mechanism, Small Scale Industries secretary Anupam Dasgupta told a PHDCCI delegation here.
"This process would be repeated every three months to monitor the effective credit flows to SSIs," Dasgupta told the delegation led by chamber president K N Memani.
The secretary urged Memani that the chamber should compile those instances where the entrepreneurs have overcome such difficulties and have been able to successfully run their units.
"Such efforts can create an awareness among industry and will help banks re-align their operations in granting loans to entrepreneurs," he said.
Source: New Kerala
