Financial Daily from THE HINDU group of publications
Tuesday, Aug 16, 2005
Financial Daily from THE HINDU group of publications Tuesday, Aug 16, 2005 |
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Industry & Economy
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Industrial Policy Small industries body hails policy package Our Correspondent
Madurai , Aug. 15 THE Confederation of Southern Small Industries Association (CONSSIA) has welcomed the policy package for the small and medium enterprises (SME) sector. In a statement here, the association President, Mr A. Selvaraj, said that for long the cry of the SSI sector has been to enhance the credit delivery mechanism by public sector banks. The package has been more inclusive and sensitive to the aspiration of the SSI sector. This has allayed the fear that only SSI financing will be included in the priority sector lending and medium enterprises excluded, from it, he said. The sector has been demanding for a transparent rating system to enable banks decide on the interest rate to be availed by the SSI units. The package has now agreed in principle that the SSI sector also needs to be treated like corporates. The Small Industries Development Bank of India and the Credit Information Bureau (India) Ltd should expedite in setting up a credit rating agency to rate the SME borrowers, at the earliest, he said. . The Finance Minister should come out with a separate policy package for the tiny sector, he added.
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