22nd April 2009
Srinagar
Special SLBC meeting on SMEs held
The Special monthly meeting of J&K State Level Bankers' Committee (SLBC) on SMEs comprising of stake holders for the month of March, 2009 was held today at Jammu to seek implementation of the economic package and review the progress since it was announced. The meeting was chaired by Mr. Abdul Majid Mir, Executive Director/ CFO of the J&K Bank and was attended by Regional Director (for J&K), Reserve Bank of India, Sr. President, SLBC of the J&K Bank, representatives from Government Finance Department and other concerned government departments and senior functionaries representing SBI, PNB and other major banks and financial institutions operating in the State.
President, KCCI, President, JCCI, Chairman FCIK and Chairman, FOIJ also participated to represent the SMEs and entrepreneurs. The position of implementing the package and RBI directives and its impact to enhance credit delivery to the SMEs sector were reviewed in detail. On reviewing the position it was found that the economic package was being implemented by the banks with seriousness and satisfactory progress had been achieved during the period under review. It was observed that all the decisions taken and action points of the previous meetings were implemented as desired. The Regional Director, RBI impressed upon the banks to complete the process of extending the package and restructuring the loans to MSMEs within the time-bound programme as prescribed by GoI and RBI.
Very purposeful and meaningful discussions ensued on the agenda items. The President, KCCI, Dr.Mubeen Shah fervently pleaded that various additional special concessions and relaxations requested by them should be expedited. Mr. Shakeel Qalander, President, FCIK argued that industry in J&K deserved further relaxations and relief measures due to State specific problems and therefore banks should extend the concession with an open mind.
Member banks were impressed upon the ensure submission of the data as per the prescribed time-bound programme to the SLBC for facilitating monthly meetings to review the position and monitor the implementation of the economic package in the State and also for ensuing onward submission of the progress reports to the GoI for broad based review at the national level.
The participants expressed their gratitude to J&K Bank for facilitating the process of industrial rehabilitation and desired flow of credit for rehabilitation, revival and sustaining industrial growth.
President, KCCI, President, JCCI, Chairman FCIK and Chairman, FOIJ also participated to represent the SMEs and entrepreneurs. The position of implementing the package and RBI directives and its impact to enhance credit delivery to the SMEs sector were reviewed in detail. On reviewing the position it was found that the economic package was being implemented by the banks with seriousness and satisfactory progress had been achieved during the period under review. It was observed that all the decisions taken and action points of the previous meetings were implemented as desired. The Regional Director, RBI impressed upon the banks to complete the process of extending the package and restructuring the loans to MSMEs within the time-bound programme as prescribed by GoI and RBI.
Very purposeful and meaningful discussions ensued on the agenda items. The President, KCCI, Dr.Mubeen Shah fervently pleaded that various additional special concessions and relaxations requested by them should be expedited. Mr. Shakeel Qalander, President, FCIK argued that industry in J&K deserved further relaxations and relief measures due to State specific problems and therefore banks should extend the concession with an open mind.
Member banks were impressed upon the ensure submission of the data as per the prescribed time-bound programme to the SLBC for facilitating monthly meetings to review the position and monitor the implementation of the economic package in the State and also for ensuing onward submission of the progress reports to the GoI for broad based review at the national level.
The participants expressed their gratitude to J&K Bank for facilitating the process of industrial rehabilitation and desired flow of credit for rehabilitation, revival and sustaining industrial growth.