Kuala lumpur: A total of 12,645 Indian entrepreneurs have benefited from various financing programmes amounting to RM249.8 million under the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) from 2024 up to October this year. Deputy Minister Datuk Seri R. Ramanan highlighted the initiatives which include the Indian Community Entrepreneur Development Scheme (SPUMI), the Special Fund for Indian Women Empowerment (PENN), Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i), and Vanigham Financing for Indian Entrepreneurs by SME Bank.

According to BERNAMA News Agency, Ramanan emphasized KUSKOP’s commitment to empowering entrepreneurs nationwide, including Indian entrepreneurs, in line with the 2030 National Entrepreneurship Policy and Malaysia MADANI vision, focusing on inclusive, balanced, and sustainable socio-economic development. This statement was made in response to a question from S. Kesavan (PH-Sungai Siput) in the Dewan Rakyat.

Ramanan further stated that KUSKOP is simplifying financing procedures by shortening approval times. He noted that applications under TEKUN Nasional only require a copy of the identity card, company registration document, three months’ official bank statements, and three photos of the business premises. The approval process has been improved, taking just seven days, compared to up to 21 days for many other banks.