BS Reporter / Chennai/ Hyderabad Dec 29, 2008, 00:21 IST
Separate cells will be created at the district level to address the grievances of the micro, small and medium enterprises (MSME) sector with respect to sourcing loans from the banks, said RS Reddy, chairman and managing director of Andhra Bank and president of State Level Bankers' Committee (SLBC).
Though the state has set a target of Rs 30,000 crore for lending to the MSME, the banks have so far achieved just 69 per cent of it amounting to Rs 20,821 crore. Of this, Rs 5,361 crore went to micro enterprises and Rs 11,967 crore to small enterprises.
Speaking at the 165th SLBC meeting here, he pointed out that the controlling offices of the respective banks should strengthen their review mechanisms in branches where the MSME concentration is high and initiate measures advised by the RBI and the Indian Bankers’ Association.
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