New Delhi, Jan. 31 -- The Government of India continues to strengthen the micro food processing sector through targeted financial assistance, market access support and institutional handholding under the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Scheme, said Minister of State (MoS) for Food Processing Industries, Ravneet Singh, in a written reply in Lok Sabha.

Credit Access and Sanction Trends

The MoS Food Processing stated that success rate of loan sanctioning under the PMFME scheme currently stands at 42 percent, which is in line with other government-sponsored credit-linked schemes.

While banks sanction projects based on their internal lending policies, the Minister said regular coordination meetings ...