News Letter
Stressed Assets in MSME-RBI move on 5/12/2018
I do not know to Welcome or criticize the move. It is too late as 1cr jobs in MSME sector are at stake.
But, When RBI is forming a Committee for looking into and submit a report by June 2019 may be a good move.
I will suggest that all professionals and academicians who may pack this committee have no exposure or very little exposure to problems of sick MSME more particularly in loan range up to 5cr to 10cr. They should be treated differently.
RBI/Central Government/State Government shall form local committees consisting of entrepreneurs, MSME associations and others so that local problems also get into the report.
But my question to RBI/Central Government/State Government has given excellent circular in March 2016 but the implementation by bankers are never monitored and in EC meeting, it gets only lip services.
Immediately RBI should have MSME Ombudsman where non-adherent banks and if staff should be punished for not following.
Entrepreneurs cum Consultant like me should have representation and innovative model like equity kind and Value creation can be thought in such a way that Pvt entrepreneurs or social entrepreneurs can look this as a business opportunity.
Regards,
N.P. Desai
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