| RBI forms group to revive sick small units |
| BS Reporter / New Delhi December 13, 2007 |
| Mahabir Prasad, Minister for Micro, Small and Medium Enterprises, today said that Reserve Bank of India has constituted a working group for the rehabilitation of sick micro and small industries under the chairmanship of the chairman of Punjab National Bank. Chairing the third meeting of the National Board of Micro, Small and Medium Enterprises, Prasad said the ministry has written to more than 40 MSME organisations to let the government know about at least 100 units that became sick primarily because of credit-related problems. Outlining the performance of National Small Industries Corporation (NSIC), the minister said a number of new schemes were launched like distribution of steel, copper etc, providing financial assistance in collaboration with banks, providing export credit insurance, helping new entrepreneurs through incubators, implementing performance and credit rating scheme, and signing of MoUs with small scale entrepreneurs |
