Stalin urges banks to extend credit to MSMEs

Tamil Nadu Chief Minister M.K.Stalin appealed to the banks to extend credit MSMEs, self employed
and education loan to the students.

Addressing the State Level Bankers meet here, he said the state government will set up a credit guarantee fund to enable banks and other financial institutions to lend to MSMEs.

Pointing out that the state government has been implementing three self employment schemes based on bank loans, he said of the 137,429 loan applications recommended by the state government only 35.67 per cent has been allowed and this number has to be increased.

Mr Stalin said the main aim of the state government was to uplift the MSME units hit by the Covid-19 pandemic and urged the bankers to