RBI holds 57th EC Meeting on J&K MSMEs; PHDCCI Jammu attends

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Ziraat Times
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Jammu, Feb 15: The Reserve Bank of India convened its 57th Empowered Committee Meeting on MSMEs which was today held in RBI Office Jammu.

The meeting was attended by heads of various banks, officials of Industries  Department J&K and Ladakh, RBI Jammu and heads of various business associations.

PHDCCI Jammu Chair Rahul Sahai also attended and shared industry prospective regarding MSMEs for J&K and Ladakh.

Rahul Sahai Chair PHDCCI Jammu thanked Sandeep Mittal General Manager RBI Jammu Kashmir & Ladakh who was chairing the meeting for inviting PHDCCI to share and deliberate on issues and suggestions in the meeting. Sahai also sensitized house about solar financing initiative taken by J&K Bank as they have signed MOU with Govt of J&K regarding solar financing and urged other banks also to design a product .

Bilal Ahmed Kawoosa, General Convener PHDCCI Kashmir Region was also present in the meeting and shared his views regarding industry perspective of Kashmir and suggested measures for revival of sick units and cluster financing .

In the meeting Mr Mittal stressed upon coordination between the departments, Banks and Industries which is lacking. Mr Mittal appreciated that the number of units registered under Udyam Portal in the regions of Jammu & Kashmir has increased since last quarter. In this context Rahul Sahai informed that PHDCCI is creating awareness among its members for the Udyam Registration through various programs, which was appreciated by Mr Mittal.

Mr Mittal shared that changes have been made in CGTMSE schemes for the benefit of industry, Mr Sahai appreciated the move of reducing charges of CGTMSE and said this scheme will take off now as this was the only hindrance in this .

Rahul Sahai said that after Covid lots of entrepreneurs are in stress as they have suffered huge losses. He said that banks should taken active step to help those industries so that they should not get converted into NPA’s and a committee should be formed as per norms for discussing on every NPA case and maximum help should be extended to the entities. Sahai also stressed that one member of the committee should be from Industry and Trade associations. He said that the needy is not been reached by the banks for help. Mr Kawoosa said that there is a need for a diagnostic study of the manufacturing units of J & K and immense need to take care of sick units.

Mr Sahai mentioned that the clearing of the cheque takes more than 3 days sometimes and if there is a holiday it may take more time and requested if this could be looked into.

Mr Mittal said that more awareness programmes related to financial options available for 1st Generation Entrepreneurs should be organized .To this Mr Sahai said the PHDCCI along with other stakeholders will plan various activities in the coming months.

 

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