Biswajit asks banks to speed up PMEGP loan sanction, meets AMEA representatives
Source: The Sangai Express / DIPR
Imphal, November 05 2020:
Textiles, Commerce and Industry Minister Thongam Biswajit Singh, today chaired a review meeting of the Pradhan Mantri Employment Generation Programme (PMEGP) at the conference hall of his Secretariat office.
Biswajit instructed the bank officials attending the meeting to sanction loans to the entrepreneurs at the earliest.
Asserting that the programme aims to achieve maximum employment of youth, the Minister said that the programme will be successful if banks meet their respective targets in sanctioning loans.
He further urged the bankers to emphasize on genuine and new entrepreneurs while sanctioning loans.
Department officials apprised that out of a physical target of loans to be provided to 2063 entrepreneurs for this year, only 60 entrepreneurs have been sanctioned loans so far.
The bank officials highlighted that due to the high number of applicants, the verification process is time-consuming and sought cooperation and co-ordination from the department officials to speed up the verification process to hasten the loan sanctioning process.
The bankers also highlighted the issue of Non Performing Assets before the Minister and the concerned officials.
Biswajit also proposed engagement of a Project Consultation for the programme to assist interested entrepreneurs willing to apply for loans under the programme.
Further assuring to look into the issues of both the banks and department including the low recovery rate of loans, the Minister also urged both bank and department officials to coordinate and work together to ensure the success of the programme.
Today's joint coordination meeting was also attended by Commissioner TCI, RK Dinesh, TCI Director L Bikram, representatives of KVICs, KVIBs, DGMs of DICS, and bank officials among others.
It may be mentioned that the scheme is implemented by Khadi and Village Industries Commission (KVIC) as the nodal agency at the National level and the State level.
The scheme is implemented through State KVIC Directorates, State Khadi and Village Industries Boards (KVIBs), District Industries Centres (DICs) and banks.
The PMEGP aims to generate employment opportunities in rural as well as urban areas of the Country.
Biswajit meets AMEA representatives Thongam Biswajit Singh also met representatives of the All Manipur Entrepreneurs Association, today and heard their grievances.
During the meeting convened at the conference hall of the Minister's secretariat office, AMEA representatives highlighted issues arising due to the COVID 19 pandemic.
The issues discussed include waiving off of power bills and rent in respect of work-sheds/factory for some months inside the industrial estates.
AMEA also urged Biswajit who also holds the Power portfolio to install dedicated power lines for the industrial estates in the State.
Biswajit assured to look into the issue and do the needful to help the local entrepreneurs.
He further said that he will convene a meeting with the business community at the earliest to discuss ways to ensure that local products are made available in the State's marketplaces.
Further assuring all possible assistance and help from the Government in their endeavours, the Minister said that the State's entrepreneurs should put efforts to establish a common platform and showcase their products to the outside world.
The meeting was also attended by TCI Commissioner RK Dinesh, TCI Director L Bikram among others.
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