The jute business in West Bengal is going through difficulties because of to the dearth of working funds, as banks have allegedly tightened the lending benchmarks for the sector, officials explained. The loan providers have been trying to get “clear land papers” from mills’ entrepreneurs for extending financial loans, they explained.
At existing, three big jute mills remained closed because of to working funds crunch, business resources explained.
“Lack of banking credit history has hit many jute mills in the Point out. Mill entrepreneurs are not obtaining satisfactory credit history to run their businesses. Banking companies make lending norms much more stringent for land titles, which is used as collateral,” a jute mill promoter told PTI on situation of anonymity.
Staff of closed Weaverly Jute Mills at Shyamnagar in North 24 Parganas district allegedly ransacked the business office of the device and torched two autos just after the management set