Excelsior Correspondent
JAMMU, May 13: The 70th meeting of the Empowered Committee on Micro, Small and Medium Enterprises (MSMEs) for the Union Territories of Jammu & Kashmir and Ladakh for the quarter ended March 31, 2026, was held at the Reserve Bank of India, Jammu, to review credit flow, digital financing and implementation of key MSME support schemes.
The meeting was chaired by Chandrashekhar Azad (Regional Director, RBI Jammu) and attended by the Joint Director, Department of Industries & Commerce; Assistant Director, MSME-Development and Facilitation Office; Divisional Manager, Small Scale Industries Development Corporation Limited (SICOP); SIDBI; controlling heads of banks; General Manager, UTLBC Convenor Bank, J&K; and office-bearers of industry associations.
In his opening remarks, Chandrashekhar Azad said MSMEs remain the backbone of India’s industrial economy, contributing significantly to GDP, manufacturing, exports and employment. He highlighted Union Budget 2026-27 measures mandating use of the Trade Receivables Discounting System (TReDS) by Central Public Sector Enterprises for procurement from MSMEs.
He also referred to the RBI’s Statement on Developmental and Regulatory Policies issued with the Monetary Policy Statement on April 8, under which the requirement of due diligence for MSMEs while onboarding on TReDS platforms has been removed to ease access.
Reviewing regional performance, Azad said both Union Territories had recorded impressive achievements under MSME Annual Credit Plans for FY 2025-26 and urged banks to further improve credit flow. He stressed faster onboarding of MSME buyers and sellers on TReDS, higher Udyam registration, wider CGTMSE coverage and greater use of digital platforms for formalisation and last-mile credit delivery.
The Committee also reviewed district-wise credit disparities, Prime Minister Task Force targets, NPAs, rehabilitation of stressed units, pendency of loan decisions up to Rs 25 lakh, cases under PMEGP, PM-SVANidhi, PM-Mudra and PM-Vishwakarma, and banking facilities in MSME clusters.
During the meeting, Indian Chamber of Commerce (ICC), Jammu chapter, represented by its chairman Rahul Sahai highlighted key MSME issues, seeking stronger TReDS implementation, solar financing, CIBIL awareness, and early announcement of the new Industrial Incentive Policy for J&K. It also urged support for natural farming, agri-units, EV-based transport, easier loans, lower collateral norms, faster grievance redressal, and better digital banking and cyber security awareness.
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