Alternate funding sources for MSMEs

Signed 2/3000
Online Signatures: 2
To
Governor
MSMEs, which are significant contributors to the nation's economy, should be provided with alternate source of finance as banks reject proposals for credit facilities once they are classified as a NPA and accounts closed under One Time Settlement. Banks violate RBI guidelines for Revival of MSMEs but strictly follow RBI guidelines for classifying the accounts as NPA and insist on OTS. Many MSME Entrepreneurs mostly of the first generation are robbed of all options to run their units again, once the account is closed under OTS which seriously damages their credit rating. MSME entrepreneurs in India need to be given further opportunities to resurrect their units and support themselves and their families.
A recognized Sick Industry, an Industry classified under NPA to be subjected to analysis of the reasons as to what are the causes ruled to confirm whether such Industry can improve its performance since many aspects like in time Production , sufficient market and demand for the product WHICH ONLY ROUTE THE INDUSTRY TO OVERCOME AND GROW.

Hence continued efforts and getting comments of the concerned Departments are well needed please. more  
Apr 05

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