RBI constitutes Working Group on sick micro industries

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New Delhi, Dec 13 (UNI) The Reserve Bank of India has constituted a Working Group on the rehabilitation of sick micro&small industries under the Chairmanship of CMD, Punjab National Bank.

Chairing the Third Meeting of the National Board of Micro, Small&Medium Enterprises (MSME) here today, Mr Mahabir Prasad, Minister for MSME Mr Mahabir prasad said that Secretary, MSME had written to more than 40 MSME organisations to let the Government know about at least 100 such sick units, which became sick primarily because of credit related problems.

Outlining the performance of National Small Industries Corporation (NSIC), the Minister said, during the last three years NSIC took certain steps to help the micro&small entrepreneurs in a big way.

For this, a number of new schemes were launched like distribution of steel, copper etc. providing financial assistance in collaboration with banks, providing export credit insurance with the help of ECGC, helping new entrepreneurs through incubators, implementing performance and credit rating scheme, signing of MoUs with small scale entrepreneurs' organisations etc.

As a result of which NSIC made profit in the last two years. He further informed that NSIC gave dividend to the Government during 2006-07.

The Second Meeting of the National Board of MSME was held in New Delhi on September 18, 2007 under his chairmanship and the main topic of the agenda for the meeting was related to consideration of a draft Procurement Preference Policy for Micro and Small Enterprises.

Representatives of MSME Associations and Trade Unions, from all over the country and senior officials of various ministries from the central as well as the state governments participated in the daylong deliberations.

UNI

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