Mumbai, Sept 23 (KNN)  The Banking Codes and Standards Board of India (BCSBI) is planning to review the existing ‘Code of Bank’s Commitment to Micro and Small Enterprises’ and in this regard has called for suggestions from various stakeholders.

“The objective of the review is to bring about an enhancement in the minimum standards of banking practices / services relating to MSEs, keeping in view the regulatory framework, growing expectations, market developments and the imperative need to support the sector which plays a very important role in the economy,” an official notice said.

BCSBI had first brought out the ‘Code of Bank’s Commitment to Micro and Small Enterprises’ in May 2008 which was subsequently revised in August 2012.

The MSE Code is now due for review and therefore BCSBI has initiated this process of review.

Suggestions for improving the existing MSE code have to be sent to BCSBI by post or email – pkkkrishnan.bcsbi@rbi.org.in by October-10.

The MSE Code reflects member banks’ positive commitment to its micro and small enterprises (MSE) customers to provide easy, speedy and transparent access to banking services in their day to day operations and in times of financial difficulty.  (KNN/ES)