Coibatore District Collector coaxes Banks for hasselfree loans to MSMEs

New Delhi, 10 Nov (KNN) District Collector of Coimbatore G.S. Sameeran released the potential linked credit plan for the district and has advised the banks to ensure hassle-free loans for education, MSME sector and loans under various government schemes.

He has encouraged the bankers and shown full support to promote entrepreneurs, allowing the district’s potential in the industrial sector to grow.

According to reporters, the National Bank for Agriculture and Rural Development (NABARD) projects 8.88 % growth in credit outgo next financial year in Coimbatore district compared to the projection given for the current year.

The plan projects the credit potential to be INR 25,004.27 crore for 2022-23. The document is the basis on which the annual credit plan is finalised.

While the MSME sector was expected to get the major portion (42 %) of the credit with INR 10,573.33 crore, the agriculture sector was expected to get INR 9,118.88 crore, including INR  8,013.14 crore towards farm credit.

He said that, there was more weightage on export credit and education loan.