The Ministry for Micro, Small and Medium Enterprises (MSME) has called a meeting of the heads of various Indian banks on Monday to find ways to speed up advances and timely credit flow, MSME Minister (Independent charge) K.H. Muniyappa said at an Assocham event held here on Friday.
Under the credit guarantee scheme, the Government has facilitated collateral free loan to over 11 lakh MSMEs with a total sanctioned loan amount of Rs 54,322 crore, the Minister said.
He said the Ministry was also following up with the Reserve Bank to achieve 20 per cent year-on-year growth in credit to MSMEs, as recommended by the Prime Minister task force.