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SBI chief calls for institution to track fund use by MSMEs
Hindustan Times Rajasthan
|January 11, 2025
State Bank of India chairman C.S. Setty on Friday pitched for the creation of a market infrastructure institution to track the end-use of funds borrowed or raised as equity by small businesses.
MUMBAI:
A "viable mechanism" is needed to ensure that the funds are used for the intended purposes, Setty said in remarks which come amid heightened concerns on the subject of end-use of funds.
"We will require a viable mechanism to track the actual use of these funds to ensure that the funds are utilized for the purposes they have been raised for, probably through the establishment of a separate market infrastructure institution with powers to track the use of borrowed funds or the funds raised through equities," Setty said.
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