Home / Knowledge / News / Association/Org / Meeting on liquidity crunch and impact on MSME sector

Meeting on liquidity crunch and impact on MSME sector

24
Oct '08
The Union Minister for Micro, Small & Medium Enterprises Shri Mahabir Prasad presided over the 6th meeting of the National Board for Micro, Small and Medium Enterprises (NBMSME) on October 23, 2008.

The main agenda for the sixth meeting of the NBMSME were:

- Prime Minister Employment Generation Programme and the issue of the liquidity crunch and its impact on MSME sector.

- Various State Ministers, representatives of MSME Associations and Trade Unions, from all over the country and senior officials of various ministries from the central as well as the State Governments participated in the deliberations.

- Shri Prasad talked at length about the new credit linked subsidy programme called Prime Minister's Employment Generation Programme (PMEGP).

A Central Scheme which will be under the Ministry of MSME. The Scheme will generate approximately about 37.38 lakh additional employment opportunities. The Minister expressed concern about the recent liquidity crunch in the Indian economy and said, “I have taken up the matter with the Ministry of Finance for earmarking certain percentage of the funds for MSME to improve their credit availability.”

Representatives from MSMEs from all over India also expressed their concern on the liquidity crunch and its impact on the credit availability to the MSME sector.

The representatives of MSMEs apprehended that the liquidity crunch may mainly squeeze the credit availability to the MSME sector and desired that necessary measures may be taken by the Reserve Bank of India (RBI).

The Executive Director of the RBI elaborated on the various measures taken by the RBI to improve the liquidity position and informed that necessary steps are being taken to enhance the credit flow to the MSME sector.

The Minister (MSME) assured the National Board that effective steps are being taken by the Government in consultation with the RBI and he urged the RBI and the banks to ensure that there is no adverse fallout of the liquidity crunch on credit availability to the MSME sector.

The Executive Director, RBI also informed that the credit to the micro and small enterprise sector has more than doubled (from Rs.68,000 crore at end-March 2006 to Rs.1,48,651 crore at end-March 2008) in a span of 3 years, as against Government's target of doubling the same in 5 years.

Shri Dinesh Rai, Secretary, Ministry of Micro, Small & Medium Enterprises and Shri Jawhar Sircar, Addl. Secretary and Development Commissioner also participated in the Meeting.

Press Information Bureau


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Oct 2020

Scottish businesses to gain from UK-Japan trade agreement

Scottish businesses, including textile firms, are set to benefit from ...

Pic: SA Company

Apparel/Garments | On 27th Oct 2020

TZP Group makes strategic investment in SA Company

TZP Group, through TZP Capital Partners III, a private equity firm...

Pic: Le Chateau

Retail | On 27th Oct 2020

Canada's Le Chateau files for bankruptcy protection

Canadian specialty retailer and manufacturer of exclusively designed...

Interviews View All

Textile industry, Head honchos

Textile industry
Head honchos

Quality should be the #1 priority

Top executives, Textile industry

Top executives
Textile industry

The budget will give major impetus to textile and apparel consumption

Textile Industry, Head honchos

Textile Industry
Head honchos

There's lot more potential in women than what we are witnessing today

Tom,

Tom

<div>Inkbank is a leading supplier of inkjet inks and inkjet printing...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Alphonse Reddy,

Alphonse Reddy

Bangalore-based Sunday designs and makes mattresses and accessories that...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

<span style="font-size: 12px;">Designer Suman Nathwani talks about her...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search