14th May 2009
Srinagar
Special SLBC meet on SMEs
The banks were implementing the economic package with seriousness and satisfactory progress had been achieved during the period under review.
This was observed today in a special monthly meeting for April 2009 of State Level Bankers' Committee (SLBC) on SMEs comprising of stakeholders viz. Government, RBI, banks, financial institutions and representative organizations of MSMEs. Mr. A. K. Mehta, Executive Director/COO J&K Bank chaired the meeting at J&K Bank Corporate Headquarters to review the progress in implementation of the economic package and enhancing credit flow to this productive sector. The meeting noted that banks in the State have restructured 4268 MSMEs accounts till April 2009 involving an amount of Rs.226.61 Crores. As regards flow of credit to MSMEs sector during the said period, Banks have sanctioned working capital loans (new) to the extent of Rs.293.17 Crores in favour of 2828 beneficiaries and incremental working capital loans to 972 existing units amounting to Rs.137.66 Crores.
Besides, Housing Loans to the tune of Rs.188.51 Crores have been sanctioned in favour of 6565 beneficiaries; and Auto loans to the tune of Rs.132.69 Crores have been approved in favour of 5302 beneficiaries during the said period. The members and participants lauded the role that J&K SLBC under the leadership of its convener bank was playing for revival and sustained growth of SMEs in the State.
Expressing their gratitude to J&K Bank for new artisan products and significant reduction in the interest rates on loans to MSMEs and other sectors, President, KCCI Dr. Mubeen Shah & Chairman, FCIK Mr. Shakeel Qalandar pleaded for similar packages by other banks for enabling the sector to sustain under prevailing economic meltdown. They also impressed upon the meeting that the SMEs of the State deserve even a broad based package of concessions, relief and relaxations including interest subvention, interest subsidy, interest concession, relaxation of norms for lending and rating criteria etc. in view of the State-specific peculiar hostile conditions disturbing industrial environment.
Sr. President, SLBC of the J&K Bank, Deputy General Manager (RPCD), RBI, Jammu, the 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, Sr. Vice President, JCCI attended the meeting.
This was observed today in a special monthly meeting for April 2009 of State Level Bankers' Committee (SLBC) on SMEs comprising of stakeholders viz. Government, RBI, banks, financial institutions and representative organizations of MSMEs. Mr. A. K. Mehta, Executive Director/COO J&K Bank chaired the meeting at J&K Bank Corporate Headquarters to review the progress in implementation of the economic package and enhancing credit flow to this productive sector. The meeting noted that banks in the State have restructured 4268 MSMEs accounts till April 2009 involving an amount of Rs.226.61 Crores. As regards flow of credit to MSMEs sector during the said period, Banks have sanctioned working capital loans (new) to the extent of Rs.293.17 Crores in favour of 2828 beneficiaries and incremental working capital loans to 972 existing units amounting to Rs.137.66 Crores.
Besides, Housing Loans to the tune of Rs.188.51 Crores have been sanctioned in favour of 6565 beneficiaries; and Auto loans to the tune of Rs.132.69 Crores have been approved in favour of 5302 beneficiaries during the said period. The members and participants lauded the role that J&K SLBC under the leadership of its convener bank was playing for revival and sustained growth of SMEs in the State.
Expressing their gratitude to J&K Bank for new artisan products and significant reduction in the interest rates on loans to MSMEs and other sectors, President, KCCI Dr. Mubeen Shah & Chairman, FCIK Mr. Shakeel Qalandar pleaded for similar packages by other banks for enabling the sector to sustain under prevailing economic meltdown. They also impressed upon the meeting that the SMEs of the State deserve even a broad based package of concessions, relief and relaxations including interest subvention, interest subsidy, interest concession, relaxation of norms for lending and rating criteria etc. in view of the State-specific peculiar hostile conditions disturbing industrial environment.
Sr. President, SLBC of the J&K Bank, Deputy General Manager (RPCD), RBI, Jammu, the 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, Sr. Vice President, JCCI attended the meeting.