The event was telecasted from Delhi where Prime Minister launched major Support and Outreach Initiative for MSME sector. North Goa district is among the 100 districts selected for the Support and Outreach initiative programme.
Shripad Naik further said that timely availability of credit is a pre requisite for any entrepreneur to maintain the viability of his business; therefore this programme would lay emphasis on a new initiative called Contactless Loan Platform. It will help improve credit flow to MSME sector which is backbone of country’s economy in terms of output, exports and employment generation. One of the positive points of this initiative would be the linking of data which in turn cut down the lapses and information asymmetry.
This initiative will set a new benchmark in loan delivery mechanism by reducing the turnaround time from 20-25 days to just 59 minutes, said Shri Naik.