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| Banks told to enhance delivery of credit |
| Shishir Prashant / New Delhi/ Dehra Dun Jan 15, 2009, 00:56 IST |
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With the initiative of the Reserve Bank of India (RBI), the state-level banker committee (SLBC) in Uttarakhand today held a special meeting here, to assess the impact of the downturn on micro, small and medium enterprises (MSMEs), with a pledge to enhance credit delivery to them.
In an interface with various associations of industries, in the presence of Additional Chief Secretary N S Napalchayal, top bank officials called for taking more proactive steps, including awareness programmes in the wake of the RBI’s latest guidelines and initiatives, which include restructuring the dues of the MSMEs and disbursement of loans against the sanctioned limit.
The associations were told to make an assessment of the impact of the downturn on the sector.
The RBI’s initiative assumes significance since the industry is facing problems due to lack of demand in the market, leading to piling up of their inventories.
The SLBC conveners also agreed to allow the smooth flow of credit to the industry. Every regional and zonal office of all banks should closely monitor the flow of credit to MSMEs and also institute a help desk at key centres across the country, the meeting was told.
Banks were also advised to closely monitor the operations in the sub-limits, particularly with reference to their corporate borrowers’ dues to small units.
“Through this meeting, we would be able to know what is the exact situation as far the heath of MSMEs is concerned in the light of the global meltdown,” said Maheep Kumar, DGM of the State Bank of India (SBI), which is the lead bank in the hill state.
Summing up the meeting, Napalchayal said the government would take the necessary steps to help the sector and also set up the facilitation council soon, which would help MSMEs in realising their money from debtors.
“Such interfaces are very necessary in the present situation, which is very bad, as the inventories are piling up in the industries,” said Pankaj Gupta, president, Industries Association of Uttarakhand.
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