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'MSMEs will get access to cheaper loans from PSBs'

‘To ensure this, I am meeting the senior functionaries of banking and financial institutions at Lucknow on Thursday so that a decision is taken on this front early with their concurrence which will be duly endorsed subsequently by the Reserve Bank of India, Finance Ministry and the Prime Minister’s Office,’ the minister said.

Besides, he said the government plans to open 500 district-level incubation centres across the country to train youth to become entrepreneurs and revitalise the micro, small and medium enterprises (MSME) sector. The minister also said the government will revise the definition of MSMEs to provide for a higher capital ceiling, and the new policy should be out in a month’s time.

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