Panaji, Feb 24 (KNN) During October to December 2022 quarter, loans to new MSMEs in Goa declined by 50 per cent and sick units’ percentage has also increased in comparison to the previous quarter, as per RBI data. 

Two of the three recommendations of the PM’s taskforce committee on MSMEs have been met by banks in Goa. 

The two recommendations are a 20 per cent growth in credit flow to small and medium units and allocation of 60 per cent of advances to micro enterprises. 

The quarterly data was shared at the RBI empowered committee MSME meeting where banking and industry representatives were present.

“The credit flow to new MSME units data shared at the meeting highlighted that there is a decrease from last year’s as well the previous quarter’s data values in terms of both the number of new MSME units as well as limit sanctioned,” said the Goa Chamber of Commerce and Industry.

RBI officials said that Bank of India and the Central Bank of India were the only banks to meet all three targets set by the PM’s taskforce committee on MSMEs. (KNN Bureau)