Interest rates ceiling on loan to small sector units sought

New Delhi, April 20 | Updated: Apr 21 2005, 05:30am hrs
The National Small Industries Corporation (NSIC) has suggested that the government should introduce a ceiling on interest rates for credit extended by all banks and financial institutions to small-scale industries.

Addressing the six day second commonwealth India small business competitiveness development programme at Chennai, director finance HP Kumar said that within the ceiling, interest rates should be linked to credit worthiness of the applicant unit, based on its credit rating or a credit score.