MSME’S Customers Perception towards Public and Private Sector Banking Operations in Namakkal District

Abstract

Banking operations are consists of the generation of funds and through selling of financial products such as modern and traditional methods of services offered by the both public and private sector banks. The services offered by the banks from opening of the bank accounts and offering the allied services. They collect the surplus savings of the people and make them available for investment. The growth and developments of any business either small, medium, Micro enterprises mainly depends upon the activities of the banks. An effective banking system always leads to a healthy economy. They play a decisive role in the development of the industry and trade. They are acting not only as the custodian of the wealth of the country but also as resources of the country, which are necessary for the economic development of a nation. The government has asked banks to clear by March 15 about 1.18 lakh pending loan applications under the Prime Minister Employment Generation Programme (PMEGP), which promotes self-employment through setting up of micro enterprises, an official statement said on Thursday. At a meeting held on Wednesday, MSME Minister Nitin Gadkari and Finance Minister Nirmala Sitharaman discussed with senior management of banks the issue of restructuring of stressed loans to MSMEs, an official statement said.