RBI organises empowered committee meeting on MSMEs

KT NEWS SERVICE. Dated: 1/31/2018 4:05:41 PM

JAMMU, Jan 30: The 38th Empowered Committee (EC) meeting on MSMEs in the state of Jammu & Kashmir was held today at Reserve Bank of India, Jammu.
The meeting was chaired by Thomas Mathew, Regional Director, RBI, Jammu and Kashmir. Besides, AK Mattu, General Manager, RBI, Sunil Gupta, Zonal Head, J&K Bank, Rakesh Gandotra, Vice-President, JK SLBC, Manoj Mehrotra, DGM, SBI, BS Raina, DGM, PNB, RS Barapatra, Director, MSME- DI, Jammu, RS Tara, Director, I&C, Rajesh Gupta, Senior Vice-President, CCI, Jammu & Nasir Hamid Khan, Senior Vice-President, KCCI were among the other prominent participants.
While welcoming the participants to the event, AK Mattu General Manager, RBI explained the huge potential of MSME sector in employment generation and contribution to the overall economic growth of the country and therefore it was incumbent upon the banks to ensure timely and adequate lendings to this sector, and also to promptly handhold the entrepreneurs wherever & whenever considered necessary.
He also laid emphasis that banks needed to make special efforts in ensuring CGTMSE coverage, timely locating the incipient sickness with prompt rehabilitation measures wherever feasible and also in augmenting lending under MUDRA scheme. In his welcome address, Regional Director explained that the main purpose of holding the quarterly EC meetings was to facilitate an accelerated growth of MSMEs in the State and also to remove the bottlenecks which hinder the smooth flow of credit to the sector.
Besides, such a forum also afforded an opportunity of direct communications/interactions between various stakeholders i.e. government, bankers, regulators, industry associations etc. so that the MSME sector could get the focussed attention and necessary guidance, support from all concerned stakeholders for its smooth functioning and progress.
A detailed presentation on the credit flow scenario in the State relating to the MSME sector, as at the close of September 30, 2017, was made by Abhilasha Diwakar, Manager, RBI. The house was informed that the advances to Micro Small Enterprises (MSE) sector increased from Rs.10734.74 crore as on September 30, 2016 to Rs.12125.81 crore as on September 30, 2017, registering an increase of 12.96 percent growth year on year basis.
Further, the number of accounts which stood at 299323 units as on September 30, 2016 had increased to 344231 units as on September 30, 2017, registering 15.00 percent growth year on year basis. The banks collectively surpassed target of 10 percent growth in number of accounts but fell short of the requisite target of 20 percent growth in credit dispensation Year-on-Year (YoY) basis.
The RD emphasised that banks must undertake special efforts to attain the mandated targets under various parameters as prescribed by Govt. of India, RBI etc. The meeting ended with the vote of thanks to the chair.

15 kids from Kashmir treated for heart defects
NEW DELHI, Jan 30(Agencies): A group of 15 children from Kashmir were treated for Congenital Heart Defects (CHD) at a hospital in Gurugram recently.
One of the children was four-year-old Adeeba Farooq, who suffered from high fever and bouts of coughing that left her weak and breathless. The CHD was diagnosed when a local doctor advised her to undergo some tests. Her father, a daily wage labourer, could not afford the expensive surgery required to cure her.
Adeeba was taken to a health camp, where the Rotary Club of Delhi East End, Have A Heart Foundation and Fortis Foundation decided to support her surgery. A Ventricular Septal Defect (VSD) closure operation was conducted by Dr. Vijay Agarwal at Fortis Memorial Research Institute (FMRI), Gurugram.
Adeeba has recovered completely now. CHD can be defined as a structural or functional abnormality in the heart.



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