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Credit delivery for micro and small enterprises


In recognition of the problems being faced by the Micro and Small Enterprises (MSE) sector, particularly with respect to rehabilitation of potentially viable sick units, the Reserve Bank had constituted a Working Group under the Chairmanship of Dr KC Chakrabarty, Chairman & Managing Director, Punjab National Bank. The Group submitted its report to Reserve Bank of India in April 2008, covering comprehensively the entire gamut of issues and problems (credit and non-credit related) confronting the sector.

The recommendations made by the Group need to be considered by Government of India, State Governments and commercial banks. The recommendations relating to Government of India have been forwarded to them for consideration and necessary action. The recommendations relating to the State Governments have been forwarded to the SLBC Convenor banks for taking up the issue in the SLBC meetings. Other recommendations pertaining to SIDBI have been sent to them. Several recommendations have been made regarding the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Scheme. These recommendations will be considered by the Standing Advisory Committee on Flow of Institutional Credit to MSEs. The Group has addressed problems being faced by the sector in getting adequate and timely credit. It has also made recommendations not only for timely detection and remedial action with respect to incipient sickness, but also rehabilitation of sick units which can be revived.

The Reserve Bank has carefully considered the Group’s recommendations regarding rehabilitation of potentially viable sick MSE units/enterprises, which essentially aim at timely detection of sickness and adoption of remedial measures to rehabilitate the potentially viable ones. The Group has also recommended that Reserve Bank of India may announce a One Time Settlement Scheme (OTS) for the MSME sector. However, any policy on settlement of non-performing loans is essentially a management function to be exercised by individual banks, based on their commercial judgment. It is necessary that the banks have their own non discretionary OTS policy which enables their officials to make quick and judicious decisions on OTS. As such, banks are advised to put in place a suitable OTS for this sector.

Source: RBI
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