Mechanism for faster SME loans

Hon’ble CIM Shri Piyush Goyal has asked SIDBI and the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to develop a framework for faster processing of loans to SME units. He also asked manufacturers in the SME sector to produce high-quality goods and follow international standards so that exports from the SME sector may become a part of the global value chain.

During a discussion, when a lot of issues plaguing the MSME sector were brought up, Shri Goyal also considered the possibility of large companies making complete payment to SMEs against delivery so that the latter’s  working capital is not blocked. He also assured the sector of the government’s full support in the skilling of manpower.