CICU attends interaction meeting with GM, RBI & others

Ludhiana, September 16, 2016: Chamber of Industrial and Commercial Undertakings Authorities (CICU), Ludhiana attended interaction meeting with Ms.Rachna Dikshit, General Manager of Reserve Bank of India, Shri Vikramjit Singh Sidhu Zonal Manager Punjab & Sind Bank, Ludhiana and with other senior officers of Bank’s of Ludhiana to discuss the Issues related to Finance /credit facilities being faced by MSME’s. It was decided during meeting to get the details of such problems from the industrial units and Cluster actors for amicable solution in the next meeting fixed on September 20.
Sh.Avtar Singh ,President of CICU, Ludhiana requested the Bankers to provide loans to MSME’s under the Scheme of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) which has been created By Ministry of Micro, Small & Medium Enterprises, Govt. of India to help the units who don’t have collateral security. He also suggested that the Banks may consult the Units to know the genuine reasons for NPA before declaring the units as NPA. He requested that Banks should come forward to rehabilitate such Sick Units. The meeting was attended by S/Sh. S.S.Bedi Advisor to CICU & SMDC, Daljit Singh Deeco, Vice President CICU, A.D.Miglani, President, Ludhiana Wire Manufacturers Association(Regd.), Manjit Singh Matharoo, General Secretary, Ludhiana Machine Tools Manufacturers Association