ENA State 2020-02-19 06:03:23 <p><strong>Gandhinagar, Feb 19 (KNN)</strong> To facilitate approval of loans to entrepreneurs in the Micro Small and Medium Enterprise (MSME), the Gujarat government on Tuesday signed a Memorandum of Understanding (MoU) with State Bank of India (SBI).</p> <p>''The top public sector lender will provide working capital to entrepreneurs seeking to start new MSME within a short time -frame after providing theoretical approval within 15 days of making an application,'' the government said in a release here.</p> <p>The MoU was signed between principal secretary M K Das and SBI Ahmedabad circle general manager Ramesh Kumar Agarwal.</p> <p>The bank will provide theoretical approval to the project within 15 days of making an application. Start-ups can submit an application on either the MSME portal or to the local nodal agencies, it added.</p> <p>''The SBI decided to help MSME entrepreneurs in Gujarat looking at their high recovery rate,'' the release read further.</p> <p>Speaking at the MoU signing event, Chief Minister Vijay Rupani asserted that the number of applications for MSME loans has increased this year compared to a year ago.</p> <p>''Even the experience of banks in terms of loan recovery has been very good,'' he said.</p> <p>---------------------</p> <p><iframe frameborder="no" scrolling="no" src="https://nativclick.com/test/3419.html" style="width:700px; height:250px;"></iframe></p> <p>---------------------</p> <p><iframe frameborder="0" height="500" id="mgiframe" src="//mg.mgid.com/mghtml/framehtml/c/k/n/knnindia.co.in.338951.html" width="100%"></iframe></p> 24585 https://knnindia.co.in/news/newsdetails/state/guj-govt-signs-mou-with-sbi-to-support-msme-entrepreneurs 2020-02-19 06:03:23 knnindia.co.in