Micro small enterprises integral
Andhra Pradesh ~ India ~ International ~ City ~ Entertainment ~ Business ~ Sports ~ Technology ~ Health ~ Features
Ratan Tata ~ Pranab Mukherjee ~ Forex Rates ~ Bullion Rates ~ RBI ~ SEBI ~ Stock Markets
Home / Business News / 2010 / May 2010 / May 21, 2010
Micro, small enterprises are integral part of planned approach: RBI Dy. Governor
RSS / Print / Comments

Reserve Bank of India

Manmohan Singh reviews financial inclusion efforts

RBI raises key rates to tame inflation

Reserve Bank of India raises repo rate by 25 bps, reverse repo by 50 bps

More on Reserve Bank of India

Top News

144 Section in Hyderabad ahead of Ayodhya verdict

Jharkhand police arrest top Maoist leader in Simdega Distrcit

Palin warns of 'Armageddon', WW III if Iran obtains nuke weapons

Milla Jovovich on her career and family life

Google Inc. working with less known handset makers to target middle clas Indians

Indian boxers, table tennis players win four more Gold Medals on Day-10 of Commonwealth Games

Mercedes-Benz to come up with safer child seat soon

Blame your mom for your muffin top or thunder thighs

Micro, small enterprises are integral part of planned approach: RBI Dy. Governor

Reserve Bank of India (RBI) Deputy Governor K C Chakrabarty said here on Friday that micro, small and medium enterprises (MSME) are an integral part of the countrys planned approach


Kochi, May 21 : Reserve Bank of India (RBI) Deputy Governor K C Chakrabarty said here on Friday that micro, small and medium enterprises (MSME) are an integral part of the country's planned approach

Addressing the programme organized to mark the release of report on a survey conducted by the Institute of Small Enterprises and Development (ISED), Chakrabarty reiterated the concept of 'Small is not only beautiful but also Bountiful' here on Friday.

He emphasized that the MSME sector need to be strengthened for overall pro-active growth.

"If we are talking of inclusive growth, if we are talking of sensitivity of growth then it cannot happen without including the MSME's as an integral part of our planned approach," he said.

"If we are able to extend that credit to the MSME's it is more inclusive because by nature they are more inclusive because in every village there will be some MSMEs," Chakrabarty added.

He further said that the MSME contributes for an inclusive growth.

"If you give to the corporate it is not that every village will get the benefit but if you can cover the needs of the MSMEs it will be more inclusive," Chakrabarty said.

Calling for the need for extensive rural banking, Chakrabarty said India has over 6,00,000 villages and even after 40 years of nationalisation, only 35,000 villages have access to banking services.

"By 2012 all villages of more than 2,000 population must have a banking business. They must have banking service and by 2015 all villages must have banking services, all households must have a bank account, that's the first condition," Chakrabarty said.

Whether banks will give the credit or not that is a next stage. Today if they want they are not able to provide and that is a major agenda," he added.

The MSME play a pivotal role in the overall industrial economy of the country.

As per available statistics of the fourth census of the MSMEs, this sector employs an estimated 59.7 million persons spread over 26.1 million enterprises.

ANI

Link to this page

Suggested pages for your additional reading
AndhraNews.net on Facebook






© 2000-2018 AndhraNews.net. All Rights Reserved and are of their respective owners.
Disclaimer, Terms of Service & Privacy Policy | Contact Us