GUWAHATI: The Reserve Bank of India (RBI), NE region wants banks to clear the credits of the Micro Small Medium Enterprises (MSME) faster to promote these enterprises for the sustainable growth of the region. To mark its centenary celebration, the Central Bank of India organized a symposium themed 'Role of entrepreneurship and bank credit for development of MSME'. RBI Regional Director Sureskha Marandi said on the occasion, "We have received complaints that many banks take too long to clear an entrepreneur's credits or loans. Banks must follow the time line of its citizen's charter while accepting or rejecting a loan. With less number of heavy industries in the region, banks should play a vital role in encouraging small entrepreneurs." Marandi said stern action will be taken against any financial institution which fails to meet the norms of citizen's charter or involves in any financial mismanagement. The RBI has also opened a 'Banking Ombudsmen' cell here where an entrepreneur can file complaints against any bank violating the citizen's charter. According to RBI statistics, only nine per cent of banks loans in India go to MSMEs.
TOI
