March 2, 2024

Give more credit to MSMEs: DC to banks

TAP | Updated: March 2, 2017

NAHARLAGUN, Mar 02: Appreciating the role played by banks in infrastructure financing and lending under stand-up India programme, Papum Pare DC Tai Kaye on Thursday urged the financial hubs (banks) to give more credit to the Micro, Small and Medium Enterprises (MSMEs). 
Kai was speaking as chief guest in a town hall meeting on MSMEs conducted by the Reserve Bank of India (RBI), Guwahati here on Thursday.
Presided by RBI, Guwahati DGM Aridaman Kumar, the meeting was attended by senior officials from department of industries, representatives from NABARD and banks, organizations nurturing entrepreneurs, women Self Help Groups etc.
Speaking on the occasion, DGM Kumar highlighted the importance of MSMEs and its impact on the economy and underscored the need for all stakeholders to come together and work collectively for the development of the MSME sector in state. 
He also explained the initiatives and policy measures taken by RBI to promote growth of the particular sector. 
As Naharlagun is an important centre of handicrafts and weaving in Arunachal Pradesh with an agglomeration of various MSE units, two presentations were made by RBI officials during the meeting on the same. 
The first was on the findings of a survey that was conducted amongst the entrepreneurs in Naharlagun and its adjoining areas with a view to understand the issues and difficulties faced by them while another presentation was on the framework for the revival and rehabilitation of MSMEs. 
An interactive session was also held for the benefit of the participants and as part of the credit linkage efforts in association with banks, a few loan sanction letters were handed over to MSE borrowers by the dignitaries present.