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Centre to provide collateral free loans for starting MSMEs: Muniyappa

Belgaum, Feb 3 (KNN) In order to facilitate self-employment, the Union government has set aside Rs1,400 crore for providing assistance of up to Rs 25 lakh each, to one lakh eligible  candidates without asking for collateral, Union Minister for Micro, Small and Medium Enterprises (MSME) K H Muniyappa has said.

The MSME Minister said this while inaugurating the ‘Udyog Mela’ and entrepreneurship development programme held at Yaksamba in Chikkodi taluk of Belgaum district on Friday.

According to a media report, the Minister said the bankers had been issued necessary instructions in this regard adding that they have already received 3 lakh applications.

Further, he said that 15 new tool rooms and technology development centres were being set up across the country and nearly 90 per cent of the students who underwent training in such centres had either been employed or taken up self-employment.

Muniyappa said that funds to the tune of Rs 750 crore had been released from the Asian Development Bank for strengthening khadi products.  Further, assistance had been provided to 1.2 lakh poor families for purchasing equipment.