CHENNAI: Chief Minister J Jayalalithaa on Friday highlighted the role of banks and financial institutions in funding the estimated outlay of Rs 15 lakh crore for infrastructure projects in the next 11 years to realise her vision.Speaking during the Special Platinum Jubilee celebrations of Indian Overseas Bank here on Friday, she said, “The underlying assumption of the plan is that the private sector would make a substantial contribution to the expected investment and, in this context, the role of banks and financial institutions to effectively mobilise and channelise such investments is critical.”Appreciating IOB for being the first to pledge its support for implementing Vision 2023, she urged the banks to play a proactive role in funding investments, in particular, infrastructure projects in the State.Setting a target of 14 per cent growth in manufacturing, she urged the banks to work in tandem with the government to achieve the goals of the new industrial policy.She also sought support from IOB and other banks to ensure success of the State government’s New Entrepreneur-cum-Enterprise Development Scheme (NEEDS) to train budding entrepreneurs. She also urged banks not to only support students with liberal education loans but also finance start-ups.
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