Reserve Bank of India (RBI) General Manager SP Mohanty has urged all banks to put in place a credit tracking system and be friendly to the existing and prospective micro, small and medium enterprises (MSMEs).
Speaking at a workshop here on Wednesday, he set deadlines and asked bank officers to follow them. He said the banks should not receive collateral security from applicants to sanction loans below Rs 10 lakh.
Mohanty said he has received complaints that some bankers are either accepting or demanding collateral security in form of land records which is unfair and de-motivating for prospective entrepreneurs.
Regional Industries Centre General Manager K Mahant spoke about different clusters such as garment, woodcraft and brass metal units. He said surveys have already been done on coir development and coir export units.
Several participants said promotion of ZED (zero defect, zero effect) industry and MSMEs has become essential in the changing times as the industry generates more employment opportunities and needs to enhance global competitiveness.
The workshop also discussed about awareness seminars on zero industry and MSME finance.
The event was organised jointly by the RBI and the Central Tool Room and Training Centre with initiatives of the Odisha Assembly of Small and Medium Enterprises (OASME) at the Science Centre.
Head of Central Tool Room and Training Centre Bhubaneswar SK Kar spoke about the policy of the Union Ministry of MSME. He said the Government has spent Rs 65 lakh by opening an Intellectual Property Rights Centre.