Step up credit to MSMEs, banks told

A task force formed by Prime Minister Manmohan Singh, on Thursday, discussed steps to enhance credit to MSMEs, which contribute 45 per cent to the country’s industrial production. “The Finance Ministry and the RBI will soon issue instructions to banks to ease the credit to the industry,” MSME ministry Secretary Dinesh Rai said.

The meeting also considered ways to infuse venture and equity capital into these units, besides discussing reports on credit and revival of sick units.

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