NEWS & ADVICE : PERSONAL LOAN
PSU banks asked to enhance credit flow to MSMEs
By Vaibhav Aggarwal
Feb 5, 2009
Print    Email    RSS   

The Reserve Bank of India (RBI) has directed public sector banks to increase the flow of credit to the cash-strapped micro, small and medium enterprises (MSMEs) and also restructure their accounts in a time-bound manner.

RBI has also asked banks to provide enough of money to the large scale corporates so that they can further extend time payments to the MSMEs.

Indian Banks' Association Chief Executive K Ramakrishnan said, "Owing to the credit crunch, big corporates are delaying payments to small firms for their inventories. This issue came up in the discussion today."

All the information was displayed on an MSME Advisory meeting held on February 3rd between the RBI Deputy Governor Usha Thorat and PSU banks chiefs.

The chiefs that attended the meeting were Punjab National Bank Chairman K C Chakrabarty, Union Bank of India CMD M V Nair and Indian Overseas Bank CMD S A Bhatt. Moreover Secretary to the Ministry of Small and Medium Enterprises, Dinesh Rai also attended the meeting.

Besides in a meeting between the bankers and finance minister, Pranab Mukherjee it was said that the credit tightening in the private sector raises public sector banks' responsibility to meet the credit needs of the economy so that growth is not adversely affected.


(Comments Posted : 1) Post Your Comments
1. brand viagra generic viagra price - viagra online buy
mVwhSiGdPh (Posted: Jun 27, 2013)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Now, Do Banking on Social Media Sites
Carnival of Indian Personal Finance Blogs #6
Central Bank of India ordered to return...
This is how a bank lends money
Personal Loan Vs. Cash advance from credit...


Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan
ho many month balance in My Personal loan

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive