Meeting Of the Delegation of Government Officials and FAPCCI
with the RBI Governor Shri Dr. D. Subba Rao,
on “Financial Problems faced by MSME Sector”
ON 17.01.2013 AT MUMBAI
As a follow up of the letter written by the Hon’ble Chief Minister of Andhra Pradesh to the Governor of RBI, delegation of officials consisting of Sri K. Pradeep Chandra, IAS., Principal Secretary & C.I.P., Industries & Commerce Department and Sri Sabyasachi Ghosh, IAS., Secretary to Government, (Food Processing and MSME, of Government f Andhra Pradesh and the delegation of FAPCCI led by President Sri Devendra Surana, Secretary General Sri M. V. Rajeshwara Rao, Members of the Managing Committee of FAPCCISri V. Anil Reddy, Sri Harigovind Prasad met the Governor of RBI on 17.01.2013 and represented the financial problems being faced by the MSME Industries of Andhra Pradesh in view of the unique situation in Andhra Pradesh.
The delegation requested the RBI Governor to take a sympathetic view of NPA provisioning and for restructuring of bank loans of the SSI Sector, which is under stress. The delegation also brought to the attention of the Governor of RBI about low coverage of the CGTMSE Scheme in Andhra Pradesh. The Governor of RBI gave a patient hearing and said that the Deputy Governor of RBI has recently held a meeting about rescheduling of loans to the MSME Sector and decision for this meeting would help the MSME Sector in Andhra Pradesh also.
The Governor RBI assured the delegation that RBI would monitor to increase the coverage of the CGTMSE scheme in Andhra Pradesh.