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MoU concludes between Department of Industry and Nationalized Bank, Bank of Baroda -: MSME entrepreneurs will get easy money

    An initiative that facilitates MSME entrepreneurs of the state has been set up under the visionary leadership of Gujarat Chief Minister Mr. Vijay Rupani. Under this, MSME entrepreneurs will get easy finance to set up industries.

    State Governments Department of Industries has signed MoU with Nationalized Bank Bank of Baroda in the presence of the CM. The new entrepreneurs who want to set up MSME units in Gujarat will get financial resources as required and that too within the timeframe.

    Principal Secretary to Industries and Principal Secretary to Chief Minister Mr. M. K. Das signed MoU on behalf of GoG and Executive Director of the Bank Mr. Vikramaditya Singh Khichi signed on behalf of BoB.

    Under this MoU, finance approvals for the project up to Rs. 5 crore will be given within 7 days as well the approvals for more than Rs. 5 crore will be given in 21 days.

    Bank of Baroda has also set up a Centralized Monitoring Cell in Mumbai for this purpose which will help facilitate such MSME entrepreneurs in Gujarat and make finance available easily and quickly.

    In addition to it encouraging policy has also been announced for over 35 lakh MSME industries across the state providing special facilities for the production of solar energy.

    On the occasion officials from Industries Department of State Government as well from Bank of Baroda remained present.

    Source: Information Department, Gujarat