Chennai, Feb 8 (IANS): Finance Minister Nirmala Sitharaman on Saturday told micro, small and medium enterprises (MSMEs) to make a complaint if banks deny loans without reason.

Explaining the proposals in the Union Budget 2020-21 presented by her in Parliament recently to traders and industry here, Sitharaman said if the banks are denying loans without reason then the MSMEs can send a complaint to the special centre to be announced shortly.

She said a copy of the complaint should also be sent to the concerned bank manager.

Sitharaman said the foreign exchange reserves are at a high level as the fundamentals are good.

On her long Budget speech Sitharaman said that officials had worked hard to come out with proposals for all sections of the society.

Stressing that the macro economic fundamentals are good Sitharaman said our focus is on creating assets and investing in infrastructure.

Earlier banks resorted to "phone banking for loan disbursal" lending to "uncles and brother-in-laws" which resulted in high non-performing assets (NPAs).

"It took four years for us to set right the NPA," she said.

Sitharaman said lessons have been learnt on how to prevent such a situation again.

She said with responsibility the government has not resorted to useless spending. The government has decided to create assets investing in infrastructure.

She said public expenditure should go for infrastructure.