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Kolkata, Sept. 19 The Micro and Small Enterprises (MSEs) should be supplied with copies of Code of Banks’ Commitment to MSEs free of cost and should be provided with standardised loan application forms with check lists suggesting what needs to be submitted with the applications, according to the salient features of the MSE Code.

Many such salient features of the code were discussed at a workshop organised by the Banking Codes and Standards Board of India (BCSBI) in partnership with the Reserve Bank of India and State Bank of India here recently.

The workshop was conducted in order to sensitise MSEs and banks about their rights and responsibilities under the Code, according to a press statement issued by SBI.

The Code reflects the commitment of banks to provide easy, speedy and transparent access to banking services for their MSE customers in their day-to-day operations and in times of financial difficulties.

The Code also requires banks to provide information about interest rates, fees and other upfront charges so that MSEs could make a meaningful comparison with those of other banks and take an informed decision, the release pointed out.

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