RFC Finances MSMEs in Rajasthan

Jaipur, Jan 22 (PTI) Improving access to credit for micro, small and medium enterprises (MSMEs) is key to the growth of small industries, Rajasthan Financial Corporation Executive Director Har Sahay Meena said on Thursday.

Rajasthan Financial Corporation (RFC), a state government entity set up to provide long-term financial support to small entrepreneurs, highlighting the role of institutional finance at a workshop in Jodhpur.

The workshop, organised under the aegis of MSME industry body Laghu Udyog Bharati, was aimed at creating awareness about various industrial loan schemes.

"RFC is the backbone of financing for small industries and remains committed to promoting entrepreneurship and industrial development in the state," said Har Sahay Meena, Executive Director, RFC.


Laghu Udyog Bharati representatives submitted a memorandum to the RFC executive director, seeking deployment of a full-time technical officer at the Jodhpur office, strengthening of staff, reduction in interest rates on loan schemes, enhancement of the subsidy limit under the Yuva Udyamita Protsahan Yojana, and early disposal of pending loan applications.

Meena assured that a special team of technical officers would be constituted to clear pending cases at the Jodhpur branch by January 31.

Explaining various schemes, Meena said RFC was implementing the Yuva Udyamita Protsahan Yojana to encourage young entrepreneurs, offering loans of up to Rs 2 crore at an interest rate of about 5.5 per cent.

Other schemes included general term loans, simple loan schemes, hotel and tourism-related loans, schemes for good borrowers, top-up loans, project-based loans and single-window financing.

RFC Jodhpur branch manager Alka Saluja and officials, along with office-bearers of Laghu Udyog Bharati and local entrepreneurs, were present at the workshop.