Scheme to attract young entrepreneurs launched

New Delhi, Oct 16 (UNI) The Micro, Small and Medium Enterprises (MSME) Ministry today said banks had been asked to provide collateral-free loan up to Rs five lakh to entrepreneurs.

''This should motivate them to start small businesses,'' SMSE Secretary Secretary Chandrapal said while launching the Entrepreneurship Development Scheme.

He said the Ministry was taking a number of steps to help the teeming millions through three institutes-- National Institute for Entrepreneurship and Small Business Development, National Institute for Micro, Small and Medium Enterprises, and Indian Institute of Entrepreneurship.

The primary objective of these institutes is to evolve standardised material and processes for selection, training support and sustenance of potential and existing entrepreneurs. Besides, they work as a platform to share experience and expertise in entrepreneurship development, he added.

UNI