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Maximise credit flow to stressed sectors, CM tells banks

By STAFF REPORTER
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GUWAHATI, May 20 - Chief Minister Sarbananda Sonowal today urged the public and private sector banks of the State to devise a standard operating procedure (SOP) to maximise credit flow to MSMEs and other stressed sectors in the backdrop of Prime Minister�s stimulus package worth Rs 20 lakh crore to galvanise the economy that was hit hard by the nationwide lockdown.

While speaking at a special State-level Bankers Committee meeting here, the Chief Minister said under present circumstances the stimulus package is a historic announcement by the Prime Minister and the banks must seize this opportunity to rejuvenate the battered economy.

Observing that the MSME sector is one of the core areas of the State�s economy, Sonowal urged the banks to reach out to the entrepreneurs during this time of distress with more credit flow.

The Chief Minister also suggested the banks to come out with an SOP to ensure maximum disbursal of loans so that there is more liquidity in the market. He said the State government would form a committee, including representatives from banks, for better execution of the economic package.

Urging the bankers to be positive in their outlook, the Chief Minister advised them to hold meetings with stakeholders to negate the possibility of the loans turning into bad loans. He said the COVID-19 pandemic had been an eye opener in terms of the State�s strengths and weaknesses in the economic sector and it was time to capitalise the learning to reap dividends to boost the economy.

Stating that the PM�s package brings much hope for the agri and allied sectors, the Chief Minister called upon the banks to pump in more money in building agricultural infrastructure and focus on areas related to production, procurement and marketing of farm products.

Finance Minister Himanta Biswa Sarma in his speech urged the banks to show leadership in overcoming the present economic crisis and work with a focus on realising the vision of Atmanirbhar Bharat and Atmanirbhar Assam. He said the State government would introduce three awards to recognise the best performing banks on PM�s package.

Representing the banking institutions, SBI NE Circle CGM Sunil Tandon, NABARD CGM SS Saha, North East Small Finance Bank MD&CEO of Rupali Kalita and officials of Bank of India and Indian Bank made several suggestions for implementation of the PM�s package.

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Maximise credit flow to stressed sectors, CM tells banks

GUWAHATI, May 20 - Chief Minister Sarbananda Sonowal today urged the public and private sector banks of the State to devise a standard operating procedure (SOP) to maximise credit flow to MSMEs and other stressed sectors in the backdrop of Prime Minister�s stimulus package worth Rs 20 lakh crore to galvanise the economy that was hit hard by the nationwide lockdown.

While speaking at a special State-level Bankers Committee meeting here, the Chief Minister said under present circumstances the stimulus package is a historic announcement by the Prime Minister and the banks must seize this opportunity to rejuvenate the battered economy.

Observing that the MSME sector is one of the core areas of the State�s economy, Sonowal urged the banks to reach out to the entrepreneurs during this time of distress with more credit flow.

The Chief Minister also suggested the banks to come out with an SOP to ensure maximum disbursal of loans so that there is more liquidity in the market. He said the State government would form a committee, including representatives from banks, for better execution of the economic package.

Urging the bankers to be positive in their outlook, the Chief Minister advised them to hold meetings with stakeholders to negate the possibility of the loans turning into bad loans. He said the COVID-19 pandemic had been an eye opener in terms of the State�s strengths and weaknesses in the economic sector and it was time to capitalise the learning to reap dividends to boost the economy.

Stating that the PM�s package brings much hope for the agri and allied sectors, the Chief Minister called upon the banks to pump in more money in building agricultural infrastructure and focus on areas related to production, procurement and marketing of farm products.

Finance Minister Himanta Biswa Sarma in his speech urged the banks to show leadership in overcoming the present economic crisis and work with a focus on realising the vision of Atmanirbhar Bharat and Atmanirbhar Assam. He said the State government would introduce three awards to recognise the best performing banks on PM�s package.

Representing the banking institutions, SBI NE Circle CGM Sunil Tandon, NABARD CGM SS Saha, North East Small Finance Bank MD&CEO of Rupali Kalita and officials of Bank of India and Indian Bank made several suggestions for implementation of the PM�s package.

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