Business Standard

Finance Ministry tells state-run banks to shore up credit to MSMEs

Earlier this year, the RBI allowed a one-time restructuring scheme for MSMEs with a maximum exposure of Rs 25 crore

FinMin told banks to appoint GM-level officer to MSMEs
Premium

FinMin told banks to appoint GM-level officer to MSMEs

Somesh Jha New Delhi
The finance ministry has told the chief executives of all public sector banks (PSBs) to review credit facilities made available to micro, small and medium enterprises (MSMEs) and take ‘corrective’ measures to ensure the firms get adequate funds.

The finance ministry has told the PSB chief executives in an official communication to assign a chief general manager, or a general manager-level officer to “do an in-depth analysis of the progress made and issues in availability of credit, still being faced by the MSMEs”.

While taking “corrective actions” and doing the analysis, nodal general managers are supposed to submit details to the finance

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 28 2019 | 12:41 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com