Hyderabad, December 23: RBI General Manager (rural planning and credit) R S Das, in a conference organized by RBI in Hyderabad last week stated that the small and medium industries are playing a vital role in the development of financial and social sectors.
Speaking on the role of banks in helping the SMEs, Das said, ''Reserve Bank, along with both the state (Andhra Pradesh) and Central governments, is implementing special programmes for encouragement of SMEs. 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," reports Jagran.com.
Andhra Bank General Manager KV 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," reports Jagran.com.
Das 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.
Das said the government could offer concessions to such projects and prepare a comprehensive plan for the purpose.