11 banks, FIs to sensitise beneficiaries on subsidy in SSI

New Delhi, Apr 24 (UNI) Nine new nodal banks and financial institutions have been added to the list of agencies that will undertake campaign to increase awareness about the credit linked capital subsidy scheme.

These are SBI, Canara Bank, Bank of Baroda, Punjab National Bank, Bank of India, Andhra Bank, State Bank of Bikaner and Jaipur, Tamil Nadu Industrial Investment Corporation Ltd and National Small Industrial Corporation Ltd, besides the existing agencies-- Small Industrial Development Bank of India and NABARD, an official statement said today.

The campaign will be organised at various locations throughout the country through the Small Industries Service Institutes with the help of the nodal agencies.

The purpose is to ensure more effective flow of subsidy to the eligible beneficiaries and to reduce the average time lag between filing of the request and the release of subsidy under the scheme.

The Government has also proposed to organise more sensitisation programmes, especially in areas where no such programme has been conducted so far.

A Governing and Technology Approval Board under the chairmanship of the Secretary, Small Scale Industries and Agro Rural industries, is already in place to monitor the progress made in the implementation of the scheme and to bring suitable policy changes to make it result oriented.

UNI