KTR urges banks to help revive MSMEs

Fri 12 Jan 2018, 11:13:23
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.”

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