New Delhi, Mar 31 (KNN) With a view to monitor flow of credit to MSME (Micro, Small and Medium Enterprises) sector, the 39th Empowered Committee meeting on MSME was held in the state of Jammu and Kashmir on March 28.

General Manager, FIDD, Reserve Bank of India A K Mattu and President, Kashmir Chamber of Commerce and Industry (KCCI) Javid Ahmad Tenga took the charge of the meeting.

The meeting emphasized on various factors like to ensure timely and adequate lending with consistent flow of credit to MSME sector, implementation of credit guaranteed fund scheme, rehabilitation of potentially viable sick units.

Further, it focused on opening of MSME dedicated branches by the respective banks and financing of artisans under the Dastkar Finance Scheme by all the banks.

AK Mattu further assured the chamber that banks will take necessary actions immediately for the growth and development of MSME.

In case of financing the artisans, he advised all the banks to get the Dastkar Finance Scheme, once it get adopted in the State Level Bankers Committee (SLBC).

According to RBI directive,  it is mandatory for all the banks to implement the decisions taken in the empowered committee.

As per the Reserve Bank of India directive, the decision taken in such empowered committee meetings are mandatory for all the banks to implement.

The chamber, in the statement, has appreciated General Manager, FIDD, Reserve Bank of India A K Mattu on agreeing and approving the aforementioned points. (With inputs from a media report) (KNN/YV)