Jammu: The 35th Empo-wered Committee (EC) meeting on Micro Small and Medium Enterprises (MSMEs) was held today at RBI, Jammu. The meeting was chaired by N.K Sahu, Regional Director for J&K, Reserve Bank of India, Jammu. S.C Sharma, GM, RBI explained that the main purpose of holding the periodic EC meetings was to facilitate accelerated growth of MSMEs in the State and also to remove bottlenecks which hinder the smooth flow of credit to the sector.
He added that the EC afforded an opportunity of direct communication/interaction between various stakeholders i.e. Government, bankers, regulators, industry associations etc. He highlighted the role being played by the MSMEs in employment generation, exports, traditional handicraft and handloom industry of the State etc.
He also reiterated that large potential is still untapped in the State and there was a need to increase the credit flow to the sector by raising awareness about various facilities and schemes available to the entrepreneurs from the Government of India, banks and State Government and the responsibility lay with all the stake holders concerned.
The house was informed that the advances to Micro Small Enterprises (MSE) sector increased from Rs.10,219.31 crore as on 30th September, 2015 to Rs. 10,979.50 crore as on 30th September, 2016, registering an increase of 7.44 per cent growth (year on year) basis. Further, the number of units which stood at 2,80,145 as on 30th September, 2015 increased to 3,02,610 units as on 30th September, 2016, registering 8.02 per cent growth on a year on year basis.
A detailed presentation on the credit flow scenario in the State relating to the MSME sector, as at the close of 30th September, 2016, was made by R.B Gupta, AGM, RBI.
Verinder Sharma, Director, MSME (DI), Dr Mushtaq Ahmed, Joint Director, I and C, Jammu, Vinay Kumar, Director KVIC, Showkat Ahmad, DGM, JKSFC, Narjay Gupta, Vice President SLBC attended the meeting. The meeting was also attended by DGM (O), SBI, Circle Head, PNB, Vice President, J and K Bank, Head Key Accounts, HDFC Bank, Cluster Head, ICICI Bank, AGM, Canara Bank, Incharge SIDBI, Jammu and representatives from Federation of Industries, Jammu, Association of Industries, Jammu, FCIK, Srinagar.
Source: statetimes
