RBI’s Empowered Committee meet on MSME sector held

Excelsior Correspondent

JAMMU, Sept 18: Regional Director, RBI, J&K, Kamal P Patnaik chaired 51st Empowered Committee Meeting on MSMEs for the Union Territories of Jammu- Kashmir and Ladakh here today.
Sandeep Mittal, General Manager, RBI, senior officers of major public and private sector banks in the State; Director Industries and Commerce, Jammu, Anoo Malhotra, Tazayun Mukhtar Kawos, Joint Director, Industries and Commerce, Kashmir and representatives from SIDBI, PNB,SBI,J&K BANK etc also attended it.
Represented by Rahul Sahai, chairman PHDCCI Jammu along with Regional Director Iqbal Fayaz Jan and Convenor Industrial Affairs-Kashmir Bilal Ahamd Kawoosa and others the Empowered Committee Meeting was conducted through digital mode.
Sahai made aware the Regional Director RBI about sufferings of MSME sector particularly. He suggested for joint awareness sessions with banks to make MSME’s aware about the various schemes available. He also suggested about passing MSME benefits to traders as per new definition of MSME’s. Sahai suggested opening of specialised SME branch by Banks for CGTMSE Scheme. Regional Director lauded suggestions made by PHDCCI and assured early action.
The meeting also took review of NPAs in MSME sector in the UTs of J&K and Ladakh, implementation of “Framework for revival and Rehabilitation of Micro, Small and Medium Enterprises (MSMEs), position of collateral free loans to MSEs, ECLGS, PMEGP Scheme, dedicated SME branches for CGTMSE and Progress in providing banking facilities to the MSME clusters.
The PHDCCI-J&K Chairman mentioned that need is felt that there should be proper capacity building of branches and it was decided and announced by RBI RD that all banks will provide the dedicated helpline number for MSME`s and that will be disseminated through PHDCCI among stakeholders and borrowers of banks.