Delhi's Naraina industrialists ask for five M's at RBI town hall meeting
Updated: May 28, 2014 05:00:06pm
New Delhi, May 28 (KNN) Naraina industrials from the South West Region of the national capital have pointed to the five M's that they require for their operations - man, material, machines, management and money, the latter being the most important, at a recently held town hall meeting organised by the RBI.
“…what we need is encouragement to the manufacturing sector… right now manufacturing is facing so many problems that we find it difficult to compete at international level,” said Naraina Industrial Association President, Ramesh Chandran.
“Our industry requires 5 M’s: man, material, machines, management and money. While others things can be managed, as far as money is concerned it is our dire need,” Chandran added, pointing to the high rates of interest demanded by banks.
The Reserve Bank (Delhi region) with the support of FISME (Federation of Indian Micro and Small & Medium Enterprises) held its second round of Town Hall meeting here yesterday with the Naraina Industrial Association. The meeting was chaired by the General Manager, Rural Planning and Credit Department, RBI, Sonali Sengupta.
The meeting was convened to reach out to micro, small and medium enterprises (MSMEs) so as to create awareness of banking facilities and the advantages of linking them with banking system.
The main objective of the meeting was to discuss the grievances and feedback that small entrepreneurs face with the public as well as private sector banks.
“I request all of you to take advantage of this town hall meeting by clarifying various issues affecting MSME credit from banks in the district,” said RBI Rural Planning and Credit Department Assistant General Manager Vandana Maheshwari inaugurating the programme.
Officials from various banks, entrepreneurs and representatives from MSME associations attended Delhi’s second edition of “Town Hall Meeting on Micro, Small and Medium Enterprises” meeting held in Naraina industrial area.
On the occasion, representatives of State Bank of India, Punjab and Sindh Bank, Canara Bank and Axis Bank from Naraina industrial area highlighted the initiatives taken by their banks for MSMEs.
The event also featured an interaction section giving opportunity to entrepreneurs highlighting the problems being faced by them on financing.
Answering a question raised by an entrepreneur on higher service charges demanded by banks, Sengupta said those charges were decided BCSBI and not by the regulatory board.
“Service charges are decided by banks for themselves. There are no RBI guidelines on service charges. BCSBI came out with the fair practices code which all the nationalised banks and commercial banks need to follow,” she said.
Despite various policy measures taken up by the RBI to boost the MSME sector, the bank still observed that there are gaps between what is desired and the ground reality. (KNN/ST)
“…what we need is encouragement to the manufacturing sector… right now manufacturing is facing so many problems that we find it difficult to compete at international level,” said Naraina Industrial Association President, Ramesh Chandran.
“Our industry requires 5 M’s: man, material, machines, management and money. While others things can be managed, as far as money is concerned it is our dire need,” Chandran added, pointing to the high rates of interest demanded by banks.
The Reserve Bank (Delhi region) with the support of FISME (Federation of Indian Micro and Small & Medium Enterprises) held its second round of Town Hall meeting here yesterday with the Naraina Industrial Association. The meeting was chaired by the General Manager, Rural Planning and Credit Department, RBI, Sonali Sengupta.
The meeting was convened to reach out to micro, small and medium enterprises (MSMEs) so as to create awareness of banking facilities and the advantages of linking them with banking system.
The main objective of the meeting was to discuss the grievances and feedback that small entrepreneurs face with the public as well as private sector banks.
“I request all of you to take advantage of this town hall meeting by clarifying various issues affecting MSME credit from banks in the district,” said RBI Rural Planning and Credit Department Assistant General Manager Vandana Maheshwari inaugurating the programme.
Officials from various banks, entrepreneurs and representatives from MSME associations attended Delhi’s second edition of “Town Hall Meeting on Micro, Small and Medium Enterprises” meeting held in Naraina industrial area.
On the occasion, representatives of State Bank of India, Punjab and Sindh Bank, Canara Bank and Axis Bank from Naraina industrial area highlighted the initiatives taken by their banks for MSMEs.
The event also featured an interaction section giving opportunity to entrepreneurs highlighting the problems being faced by them on financing.
Answering a question raised by an entrepreneur on higher service charges demanded by banks, Sengupta said those charges were decided BCSBI and not by the regulatory board.
“Service charges are decided by banks for themselves. There are no RBI guidelines on service charges. BCSBI came out with the fair practices code which all the nationalised banks and commercial banks need to follow,” she said.
Despite various policy measures taken up by the RBI to boost the MSME sector, the bank still observed that there are gaps between what is desired and the ground reality. (KNN/ST)
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