Shivamogga Member of Parliament B.Y. Raghavendra has said Union Finance Minister Nirmala Sitaraman responded to his plea to open a branch of the Small Industries Development Bank of India in Shivamogga to extend financial support to micro, small, and medium enterprises.
In a press conference in Shivamogga on Wednesday, Mr. Raghavendra said he met the union minister during the parliament session last month and placed his demand. She responded positively to his plea. “Following the minister’s positive response, a senior official of the SIDBI will be visiting Shivamogga on Thursday,” he said.
The SIDBI will help industrialists in Shivamogga district. They will get the loan facility directly from the bank. “Nationalised banks offer loans to industrialists at a higher interest rate compared to the SIDBI. If the SIDBI directly offers loan facilities, the industrialists will get benefit,” he said.
There are about 21,400 MSM enterprises in the district, with a total investment of more than ₹2,780 crore. They have offered 1.17 lakh people, he said.
Answering a question on the renewal of DGCA licence to operate flights at Shivamogga Airport, Mr. Raghavendra said there was time until the end of September to get the licence renewed. “KSIIDC is making efforts to fulfil the requirements as per the conditions of licence. The airport needs some equipment and personnel to enhance safety and security,” he said.
