Call to simplify loan procedures

THIRUVANANTHAPURAM: Industries and Commerce Director T O Sooraj has stressed the need to simplify procedures for sanctioning loans to micro, small and medium enterprises (MSME) so that adequate and timely credit is made available to entrepreneurs.Sooraj was addressing an MSME meet organised by the Corporation Bank in Thiruvananthapuram on Monday in association with the Credit Analysis and Rating Ltd (CARE).The Industries Director also urged bankers to entertain a pro-active and lenient approach when extending finance as part of their social responsibility.Corporation Bank deputy general manager Thomas George explained about the various MSME-specific schemes offered by the bank. The Corporation Bank has registered 58-per cent growth in the MSME sector during the past year, he said.  CARE vice president M Chandrasekhar made a presentation on various benefits of credit rating for MSMEs.