New Delhi, October 10: Credit flow to micro, small and medium enterprises (MSMEs) has more than doubled in two years to Rs 2.57 lakh crore in the financial year ending March 2009, Reserve Bank of India deputy governor K C Chakrabarty said.
“So, Rs 1.27 lakh crore to Rs 2.57 lakh crore in two year time as credit to MSME sector, still we are saying banks are not giving credit,” Chakrabarty said today at a conference on finance availability for MSMEs by industry body CII.
Asking entrepreneurs to come up with viable projects that can convince bank branch managers of repayment of the loan, he said there is no shortage of funds and industrialists must understand the difference between money and credit.
“Today, there is no bank in this country who will refuse money. Every bank is sitting on tonnes of money …
–PTI