SMEs playing key role in building social, fin sectors: RBI

Tags: RBI, SMEs, Economy
The small and medium industries are playing a key role in development of the

RELATED ARTICLES

country's social and financial sectors, a top Reserve Bank official has said.

"The small and medium industries are playing a vital role in the development of financial and social sectors. Reserve Bank, along with both the state (Andhra Pradesh) and Central governments, is implementing special programmes for encouragement of SMEs," said RBI general manager (rural planning and credit) R S Das.

He was addressing a conference organised by RBI, Hyderabad, here yesterday.

Bankers, industrialists and district officials participated in the event.

"The loan sanction has been increased to small and medium industries, but the sector is encountering certain issues which are being addressed by the Prime Minister's Advisory Committee and discussions are going on," Das said.

He also called on SMEs to set up "techno-economic projects".

Das said the government could offer concessions to such projects and prepare a comprehensive plan for the purpose.

Speaking on the occasion Andhra Bank General manager K V Kannan said: "Our bank is ready to provide loan to newcomers to encourage small and medium industrialists".

"Banks are providing the highest credit ratio in East Godavari district compared to Coimbatore and Faridabad", he said while calling for more development of small industries here.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • 49 per cent FDI in defence should pave the way for modernisation

    There is one industrial sector in India that has been kept out of the purview of the normal cycle of investment and production — defence.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Welfare must be humanitarian not political

We are a very political people. We politicise and corrupt ...

Purnendu Ghosh

How to distinguish a need from a want?

The day when the annual budget is announced is one ...

Shona Adhikari

Decades apart, yet a common ground in fine art

Today’s column is about two artists born many decades apart, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture