Federation of Andhra Pradesh Industries (FAPI) president B.V. Rama Rao on Wednesday, urged the representatives of micro and small enterprises to make use of the Pradhan Mantri Micro Units Development Refinance Agency (MUDRA) Yojana, for funding their credit needs and other developmental activities.
Interacting with the media, Mr. Rao remarked that it was the duty of banking institutions to offer such loans (below Rs. 10 lakh without any collateral) to the people and had no right to refuse them.
“If anyone (in the banks) states reasons such as non-availability of quota, orders or demands surety, request the same and bring it to our notice – Ph.No: 9866649369. In case of filing applications, please do take an acknowledgement from the officials,” he added.
