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KTR urges banks to help revive MSMEs
Information Technology (IT) Minister K T Rama Rao on Thursday urged the banks to help revive micro, small and medium enterprises (MSMEs) in coordination with District Industries Centres. For revival of Industries 3Rs -- Rectification, Restructuring, Recovery -- principles must follow, the Minister said, at the State-level Bankers\' Committee (SLBC) meeting here.
Hyderabad: Information Technology (IT) Minister K T Rama Rao on Thursday urged the banks to help revive micro, small and medium enterprises (MSMEs) in coordination with District Industries Centres. For revival of Industries 3Rs -- Rectification, Restructuring, Recovery -- principles must follow, the Minister said, at the State-level Bankers' Committee (SLBC) meeting here.
“The government is launching unique programmes to bail out the MSMEs. As part of the programme, Telangana Industrial Health Clinic Limited (TIHCL) would be launched. The government is keen on understanding the issues that beset the small enterprises. The Reserve Bank of India has recognised TIHCL as a non-banking financing company recently,” he said. The Minister said Telangana State had become the first State in the country by establishing Industrial Health Clinics meant for the benefit of the MSMEs. He asked the banks to become partners by investing in health clinics.
KTR said, “We have recognised the cooperation of banks in the development MSMEs. An elaborate discussion was held on measures to be taken of revival of MSMEs, distribution of Micro Units Development and Refinance Agency Bank (MUDRA) loans to micro enterprises and sick MSMEs.”
With the restructuring of small amounts of loans, many MSMES would start their activities. He asked the banks to help these enterprises. For resolving the issues of MSMEs every month a Town Hall meeting should be held in the district level, he said.
Regarding MUDRA loans and Prime Minister Employment Guarantee (PMEG), he urged the bankers to take special drive to ensure that 100 per cent target is achieved. He appealed to the bankers to lend loans to weavers, too, under MUDRA scheme.
B Yerram Raju, Advisor to the government for TIHCL, said as many as 23 micro and small enterprises had contributed Rs 2.40 lakh as share capital for TIHCL.
