 Early Times Report
JAMMU, Mar 13: Rahul Sahai Chairman, PHDCCI , Jammu represented PHDCCI -J&K in the meeting of The Reserve Bank of India (RBI) Jammu, for the Empowered Committee Meeting on MSMEs for the UT of J&K . The meeting was chaired by Regional Director, RBI Jammu and was attended by senior officers of major public and private sector banks of UT of J&K, besides officers from SLBC and Industries and Commerce, J&K.
Sahai raised and discussed the issues with RBI Director which include the problem of Mortgage deed rate @ 1.25 % charged on the valuation of the property instead of loan amount , TREDS scheme in which banks are bidding on a higher side because of that people are not opting for TREDS , banks are bidding upto 10% but margins are not that much.
Real disbursement of loans are not happening , loans are offered to them who are already comfortable in balance sheets , but this time stressed accounts needs a hand holding and also the issue of blocking the enterprises for 3 years after opting for OTS.
The position of businesses from 5th Aug 2019 that how businesses got stressed due to lockdown of 5th Aug and then further with corona lockdown and relief measures were asked for norms from aug-2019.
Awareness programs of govt of india schemes and Financial inclusion Schemes in collaboration of PHDCCI was suggested. He sensitized RD about opening of SME branches in all the industrial estates. Financing of cluster industries like, bat manufacturing , hotels , handicrafts etc
The availing of CGSSD Nd lock down has affected the CIBIL scores, and credit ratings which needs to be relaxed for further credit flow to MSME's and the revival and rehabilitation of Sick MSME's and inclusion of all NBFC in J&K to have an option of lending to MSME was discussed in threadbare. |
