KCCI appreciates RBI’s decision of lending to MSMEs

KCCI appreciates RBI’s decision of lending to MSMEs
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SRINAGAR: General Manager, FIDD, Reserve Bank of India A K Mattu and President, Kashmir Chamber of Commerce and Industry (KCCI) Javid Ahmad Tenga met here on Friday at the In the 39th Empowered Committee meeting to monitor flow of credit to MSME (Micro, Small and Medium Enterprises) sector.
According to a statement, stress was laid to ensure consistent flow of credit to MSME sector with timely and adequate lending, implementation of credit guaranteed fund scheme, rehabilitation of potentially viable sick units, opening of MSME dedicated branches by the respective banks and financing of artisans under the Dastkar Finance Scheme by all the banks.
The chamber, in the statement, has appreciated General Manager, FIDD, Reserve Bank of India A K Mattu on agreeing and approving the aforementioned points.
Mattu assured the chamber that necessary action would be initiated immediately by the banks, but in the case of financing the artisans, he advised all the banks to get the Dastkar Finance Scheme after getting the same adopted in the State Level Bankers Committee (SLBC), it read.
As per the Reserve Bank of India directive, the decision taken in such empowered committee meetings are mandatory for all the banks to implement.

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