Coimbatore: Over a 100 members of the TamilNadu association of Cottage and Micro Enterprises petitioned the District Collector, K Rajamani at the District Collectorate, today. They slammed banks for denying festive loans and imposing far too many conditions for providing a loan.
Coimbatore: Over a 100 members of the TamilNadu association of Cottage and Micro Enterprises petitioned the District Collector, K Rajamani at the District Collectorate, today. They slammed banks for denying festive loans and imposing far too many conditions for providing a loan.
Addressing the media, the petitioners complained that bank authorities in Coimbatore are refusing to lend money despite the Central Government's advice to the bank administration to provide festive loans to small entrepreneurs due to the severe industrial crisis that they are facing.
The petitioners alleged that the bank administrations had imposed various conditions for issuing a festive bank loan. They also lamented that while they were facing a severe crisis in their industry, it would be difficult to provide a bonus to workers if banks refuse loans during festive seasons.
Since Diwali is just around the corner, the petitioners urged the district administration to take appropriate action to help them avail festive loans from banks.