Programme to bail out MSMEs on anvil: Telangana IT Minister
Hyderabad, Jan 12 (KNN) The Telangana IT Minister KT Rama Rao said the state government is launching a unique programme to bail out the MSMEs and he also urged the banks to revive the micro, small and medium enterprises (MSMEs) in coordination with District Industries Centres.
He said for revival of Industries 3Rs -- Rectification, Restructuring, Recovery -- principles must follow, the Minister said, at the State-level Bankers' Committee (SLBC) meeting, according to a media report.
“The government is launching unique programmes to bail out the MSMEs. As part of the programme, Telangana Industrial Health Clinic Limited (TIHCL) would be launched. The government is keen on understanding the issues that beset the small enterprises. The Reserve Bank of India has recognised TIHCL as a non-banking financing company recently,” he said.
KTR said, “We have recognised the cooperation of banks in the development MSMEs. An elaborate discussion was held on measures to be taken of revival of MSMEs, distribution of Micro Units Development and Refinance Agency Bank (MUDRA) loans to micro enterprises and sick MSMEs.”
For resolving the issues of MSMEs every month a Town Hall meeting should be held in the district level, he said.
B Yerram Raju, Advisor to the government for TIHCL, said as many as 23 micro and small enterprises had contributed Rs 2.40 lakh as share capital for TIHCL.