In order to support MSMEs in Telangana, the state government is working on a proposal to ensure the banks that the government will provide 100 per cent loan repayment guarantee to banks for creating a support system for the sector. The government is also on the line to form an exclusive State Level Bankers Committee for the SME sector to provide funding to the sector. The information was provided by Jayesh Ranjan, TSIIC chairman while speaking in a meet on ‘Funding MSMEs to Stimulate Growth’.
Jayesh Ranjan said, “Many measures to support SMEs have been taken. Now we have 2.5 lakh acres which will be converted into industrial parks. The MSMEs will have assured availability of plots as there is reservation of plots”.
“Telangana will have a new industrial policy from Dec. 1, which speaks about a separate empowered State Level Bankers’ Committee exclusively for SMEs. Financing of niche areas is being explored and we will shortly launch a scheme to generate funding with the government taking responsibility for loan repayment”, added Jayesh Ranjan.