-166 proposals rejected, 314 proposals still awaiting approval
VAIBHAV PARWAT
Aurangabad: The hope of many youths to get proper employment through the Pradhan Mantri Formalisation of Micro food processing Enterprises (PMFME) Scheme has been dashed due to adverse policies of banks. About 166 proposals in the district have been rejected by the banks, 226 proposals have been approved while 314 proposals are still awaiting approval. Most of these proposals were rejected due to low 'CIBIL Score'.
On the one hand, the government is trying to boost employment through various schemes, but some of the policies of the banks are causing the schemes to get disrupted. As most of the schemes are being implemented through banks, the beneficiaries are facing difficulties while getting approval. The PMFME is being jointly implemented through the department of agriculture and nationalized banks for setting up more than 150 types of processing and value addition industries. After the beneficiary submits the proposal to the agriculture department, the proposal is sent to the bank for loan approval through the designated district coordinator. The bank then gives approval letters for the project. However, the majority of banks are rejecting the proposals stating a bad CIBIL score and other reasons.
150 types of processing business
More than 150 types of processing and value addition industries including animal feed, fish feed, poultry feed, fruit and vegetable processing, food grain processing, dairy processing, bakery, oil mill, snacks and other businesses can be set up under PMFME.
Proposals are being approved
The scrutinization process of the proposals takes time. However, our bank received 30 proposals in the past year and 28 of those were approved. Two proposals were rejected due to lack of documentation. Any applicant facing problems can directly approach the higher officials, said Suresh Kumar, manager SBI.
Status of the PMFME in the district:
-Proposals received so far in the district - 1,236
-Proposals with incomplete documents - 434
-Proposals rejected by the banks -166
-Proposals pending for approval - 314
-Proposals approved for projects - 226