India’s central government’s minister for information & broadcasting and parliamentary affairs Priya Ranjan Das Munshi said the government intends to liberalize credit delivery mechanism for micro, small and medium units at the grassroot level. He was speaking at a function organized by the Federation of Small & Medium Industries.
The finance ministry may announce new guidelines verbally towards liberalizing loan disbursement norms for micro, small and medium units. The guidelines will mainly veer around giving more freedom to bank branches at village and district levels so that they can take quick decisions in clearing loan applications of the units and speed up loan disbursements.
Paramashish Ghosh Roy has more on the story.