"Narayan Rane says MSMEs have complained of banks not releasing credit despite govt schemes;

MSME Minister Narayan Rane has stressed the importance of removing complexities faced by entrepreneurs in setting up new industries such as lack of ease in securing bank credit in order for the MSME sector to scale up. Addressing an event organised by the Institute of Chartered Accountants of India (ICAI) and IMC Chamber of Commerce and Industry earlier this week, Rane said multiple complaints he received from entrepreneurs are related to bank credit. “The question asked was when the government has declared various schemes (to provide credit), then why don’t banks release the amount to entrepreneurs? We will meet with the finance ministry for this. There might be challenges for banks as well,” Rane said.

“Such challenges including infrastructure and other government schemes related should be solved for our youth looking to enter the industry,” the minister said.

Read more at Financial Expresses