FinMin has asked banks to encourage MSMEs to adhere to sustainable manufacturing standards.

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New Delhi October 31 (KNN) The Finance Ministry has urged banks to provide multiple incentives to MSMEs in compliance with sustainable standards for manufacturing, the Financial Express reported, citing officials.

In a bid to support the MSME sector at a time when interest rates are on the rise, banks have been advised to introduce cheaper loans.

Through this move, the two main objectives of the government are to improve the flow of credit to MSMEs to become responsible producers and to increase job creation.

In a letter to financial institutions, A letter was sent to financial institutions asking them to include the policies approved by their boards, according to a report by Financial Express.

ZED (Zero Defect, Zero Impact) certification is awarded by the Ministry of MSME to eligible units that meet certain sustainability criteria to avoid harming the environment. (KNN Bureau)

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