PANAJI
Credit disbursement by banks to Medium, Small and Micro Enterprises (MSMEs) by banks in Goa has fallen short of targets in the first quarter of the current fiscal (April-June).
The issue was discussed at the quarterly meeting of the Empowered committee of the Reserve Bank of India (RBI) held last week.
It conducted its quarterly Empowered Committee meeting for MSMEs for the quarter ending June 2024 on Wednesday, 14th August 2024, with Ambika Dhakhenkar, Deputy Director, representing GCCI.
The meeting assessed the credit progress to MSMEs which was found to be mixed across banks.
Some banks struggling to meet targets and falling short of the goals set by the Prime Minister’s Task Force on MSME credit dominated the discussions at the meeting, an attendee said, adding that there was noticeable decline in sanctioned units on a quarter-on-quarter as well as year-on-year basis.
There were however a few banks that recorded growth in micro-enterprise units availing credit.
The status of stressed and sick MSMEs was also discussed, which showed a declining trend. There was a decrease in the number of stressed units compared to previous quarters.
