Mangalore Capt. Brijesh Chowta, Dakshina Kannada MP, on Wednesday directed banks to sanctions loans on priority to entrepreneurs intending to set up new food processing industries or micro-scale enterprises.
He was speaking after inaugurating a district-level awareness programme on the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Scheme organised by the zilla panchayat, the Agriculture Department, and Karnataka State Agricultural Produce Processing and Export Corporation Ltd., here.
The MP noted that the administration shortlists beneficiaries for various Centrally-sponsored schemes in individual enterprise, home products, food processing enterprises etc. However, there have been many complaints of banks pestering beneficiaries while sanctioning loans. Thus the very purpose of introducing a particular scheme gets defeated, he said, asking banks not to delay sanctioning loans to beneficiaries.
Capt. Chowta said the PMFME Scheme has been one of the ambitious projects of the Union government under the Atmanirbhar Bharat campaign. The government has set a target of encouraging at least 2 lakh entrepreneurs across the country under the scheme.
Joint Director of Agriculture Honnappa Gowda said the scheme envisages a maximum subsidy of ₹15 lakh, with the Central government bearing 35% and the State bearing 15% of the total subsidy component. Joint Director of Industries Gokuldas Nayak, District Lead Bank Manager Kavitha Shetty, and others were present.
Launched in 2020 by the Union Ministry of Food Processing Industries, the PMFME Scheme intends to formalise and upgrade micro food processing enterprises. It provides financial, technical and business support to individual entrepreneurs, farmer producer organisations, self-help groups, and cooperatives to expand operations, access credit, improve branding and marketing thereby formalising their business.
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