PSU banks express commitment to accord thrust to MSME sector

Senior officials of nationalised banks have expressed keenness for implementation of a debt restructure package announced by RBI.

The commitment came at an MSME Outreach and Support Programme conducted by Indian Overseas Bank, Lead Bank Department, here on Tuesday.

In the wake of Prime Minister Narendra Modi’s announcement of 12 initiatives for revival of MSME sector through access to credit, access to markets, technology upgrade, ease of doing business and other interventions, the banks responded promptly to give a push to credit flow for the sector, Ajay Kumar Srivastava, Executive Director, IOB, Chennai, said.

After the announcement of relaxations on account of GST issues, credit flow for needy MSME units had increased, he said.

Collector K. Rajamani said the proposed defence industrial corridor would substantially increase quantum of business with MSME sector for banks. Owing to its vantage location, Tiruchi, whcih shared a boundary with several districts, was well-suited for growth of MSMEs. Education, medicine and tourism were strong factors for growth.

B.A.R. Patro, General Manager and Zonal Manager, IOB, Coimbatore Zone, said the progress of MSMEs was of paramount importance for banks.

Senior officials of other banks, including Snehalatha Johnson, Deputy General Manager, Canara Bank; S. Subramaniam, AGM-MSME Department, SBI; and N. Rajamani, AGM, Indian Bank, elaborated on their respective credit exposure to MSMEs.

General Manager of District Industries Centre, Tiruchi, Ilango, exuded hope that the target of ₹1,500 crore investment to be announced at Global Investors Meet 2019 could be achieved through timely assistance from banks.

Smooth coordination at field-level with bankers had reflected in desired growth in the activities of women self-help groups, Project Officer of Mahalir Thittam, Saravanan, said.