Jammu, Aug 26: RBI J&K & Ladakh’s 55th Empowered Committee Meeting on MSMEs was held on Friday in RBI Office Jammu.
The meeting was well attended by heads of various banks, officials of Industries Department, MSME Department and RBI Jammu.
Rahul Sahai Chair PHDCCI Jammu along with Amarpreet Singh Resident Officer PHDCCI Jammu represented PHDCCI Jammu and shared Industry perspective regarding MSMEs funding, a statement issued to Ziraat Times said.
In his presentation Mr Sahai said that lot of new Industrial estates by Government and Private Industrial Estates are coming up in Jammu. He recommended that banks should open specialized SME branches in these areas. He also brought to the notice of RD and General Manager RBI that Banks are denying Credit Guarantee Scheme for Micro & Small Enterprise (CGTMSE) which should be looked into, the statement added.
Mr Sahai also recommended that there should be Single Window NPA Scrutiny Committee in which representative from MSME Department, Industry Department and Banks should be there so that maximum possible help is extended to an MSME before declaring the case as NPA .
Other issues discussed are failing of implementation of various MSME Schemes because of the unwillingness of managers to take risks, denial by banks for raw material assistance scheme for MSME, Low Cibil Score, Collateral free loans for MSME up to 10 lakh, framework for revival and rehabilitation of MSME’s.
Mr Sahai further stressed upon revival of sick units and maximum possible support should be given to unit holders so that they can revive. He also urged all the heads of the banks to extend maximum possible support to sick industries as they are the back bone of the economy .
Further RD and GM RBI suggested Chair PHDCCI to write to J&K govt regarding subsidizing charges of CGTMSE scheme so that more and more Msme’s could avail the benefit . Both lauded good work done by PHDCCI Jammu as well as Kashmir Chapter for benefit of trade and Commerce .
Rahul Sahai thanked Kamal P Patnaik Regional Director RBI and Mr Sandip Mittal General Manager RBI Jammu Kashmir & Ladakh for providing PHDCCI the opportunity to share our issues and suggestions in the meeting.
