Representatives of micro, small and medium enterprises (MSMEs) raised concerns over high interest rates, delays in loan disbursal and banks insistence on collateral for working loans in a meeting with finance minister Nirmala Sitharaman. 
“MSMEs have demanded a differential interest rate for the sector. Issues related to working capital and Goods and Service Tax (GST) were also brought up.” Earlier in the day, transport and MSME minister Nitin Gadkari said the MSME sector creates 113 million jobs and the government is giving highest priority to resolve its problems. “The problem with the 59 minutes (loan scheme) is that banks immediately sanction the loan but it is delayed for disbursement.