The government has decided to continue to consolidate gains of the MSME Outreach Campaign by do an in-depth analysis of the progress made and issues in availability of credit, still being faced by the sector, said an official release on Thursday.

In order to take the initiative further, it has been decided by the Government of India to continue to consolidate gains of the Outreach Campaign. In an Official Communication to the  Chairman, SBI and  MDs & CEOs of all Public Sector Banks (PSBs), it is therefore, requested that a CGM/GM level officer may be specifically designated to do an in-depth analysis of the progress made and issues in availability of credit, still being faced by the MSMEs, added the statement. 

An MSME outreach initiative was launched by the Prime Minister on 2nd November, 2018 to provide access to credit, access to market, technology up-gradation, Ease of doing Business and a sense of security for employees of MSMEs. 

A Proforma for submitting Weekly Reports to Department of Financial Services (DFS), Ministry of Finance is being sent separately to these PSBs. The campaign will be supervised by ED in-charge of MSME Financing. 

The Heads of all PSBs have been also asked that all sincere efforts should be made so that during the process of formalisation, the MSMEs may not suffer in want of credit which should be available to them as per the extant guidelines, added the release.

Published On : 27-06-2019

Source : SME Times