Excelsior Correspondent
JAMMU, Mar 30: The advances to Micro Small Enterprises (MSE) sector increased from Rs 9263.15 crore as on December 31, 2014 to Rs 10688.18 crore as on December 31, 2015, registering an increase of 15.38 percent growth year on year basis.
This was revealed by D Sethy, Regional Director, RBI, J&K, during the 33rd Empowered Committee (EC) meeting held on Tuesday at RBI Jammu, to monitor flow of credit to MSMEs in the State of Jammu and Kashmir for the quarter ended December 31, 2015.
The meeting was chaired by D Sethy and attended by senior officials of RBI, State Government, Controllers of Banks, representatives of Industry Associations, etc.
In his welcome address, Sethy explained the purpose of holding the quarterly EC meetings and its importance in removing bottlenecks, if any, to ensure smooth flow of credit to the MSME sector.
He exhorted the bankers to follow RBI guidelines on rehabilitation, nursing and hand holding of sick units and the Structured Mechanism for monitoring the credit growth to the MSE Sector scrupulously.
He also reiterated that there was a need to increase awareness about various facilities and schemes available to the entrepreneurs from the Government of India, banks and State Government and the responsibility lies with all the stake holders concerned.
Trending Now
E-Paper
Follow our WhatsApp channel