Federation of Andhra Pradesh Industries President and People’s United Front (PUF) founder BV Rama Rao expressed concern over the non-cooperation of banks for the entrepreneurs despite launching of many schemes both by the Union and the State governments to encourage industries. He said that banks were insisting for collateral guarantee for sanctioning loans though it was not mandatory in schemes such as Credit Guarantee Trust for Micro and Small Enterprises.
Addressing a media conference, he said that very purpose of the schemes was being defeated with lack of proper awareness about the schemes among the bank officials. He said that FAPI and PUF will organise an awareness camp for entrepreneurs on March 9 at 2.30 pm in DRDA office of Srikakulam. He said that bankers, officials of various departments have also been invited for the meeting so that they can clarify doubts of many entrepreneurs. Mr.Ramarao said that similar meetings will be organised in Eluru, Rajahmundry, Vijayawada, Nellore, Vizianagaram, Tirupati and other places within one month.