MSME sector is the backbone of our economy: MP Brijmohan Agarwal

Raipur/Andaman. MP Brijmohan Agrawal met with the Lok Sabha Estimates Committee in Port Blair, Andaman today to review the “Role of Banks in Promoting the MSME Sector.” He further stated that the following issues were discussed with senior officials from various banks and the MSME sector:

The MSME sector is the backbone of our economy; banks should strike a balance between lending to large sectors and MSMEs.

New-age innovative businesses should be considered startups, and banks should support new entrepreneurs under important schemes like PM Vishwakarma Yojana.

To support Prime Minister Modi’s vision of a developed India 2047, it is crucial for banks to work at the grassroots level; this will benefit the entire country.

Banks should immediately provide unsecured loans of up to ₹20 lakh to micro and small non-corporate businesses in all sectors, such as makeup, event management, consultancy professionals, etc., under the PM Mudra Yojana.