The government has asked heads of all public sector banks to ensure that small businesses do not face difficulty in accessing credit.
The chiefs of state-run banks have also been asked to do an in-depth analysis on the progress made on the government's micro, small and medium enterprises outreach initiative, and issues in availability of credit faced by small businesses, the Ministry of Finance said in a statement.
In an official communication to all heads of public sector lenders, the government has directed banks to designate a chief general manager or general manager to collect information on:
- Details of MSMEs who are taking credit from the bank
- Details of MSME accounts that are non-performing assets
- Details of MSME accounts where restructuring or resolution has been done as per the Reserve Bank of India guidelines
- Details of new MSMEs covered during the campaign
- Details of MSMEs still uncovered
Bankers will have to submit weekly reports to Department of Financial Services under the Ministry of Finance, the statement said.
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