Shri. Govind ji Lele and Shri. Sunil ji Sirsikar attended a meeting of MSME Associations called by Governor of RBI on 07 January 2019. Very happy to share that LUB was given first priority to submit our memorandum. The points included in the memorandum are:
1. Restructuring circular of 1st Jan to include Non GST micro borrowers also.
2. The restructuring effective date to be 1st Jan 2018.
3. Priority to Micro & Small Industry to be given for restructuring.
4. Interest rates to MSME to be at Basic Lending Rate.
5. Monitoring mechanism at RBI level to be established for all RBI circulars issued till date.
6. CGTMSE to be mandatory to all banks including NBFC & Co-op Banks.
7. OTS scheme to be publicized on website of every bank as per circular of RBI.
8. NCLT & Insolvency norms of water fall mechanism to priorities MSME dues.
9. Bank to give acknowledgment of loan application for tracking purposes.
10. CIBIL up-dation after payment of dues of Banks to be done within 30 days.
11. Separate Credit rating mechanism for MSME to be done.
12. Separation in fund & non-fund limits for the purpose of security.
13. Requirements of 3 years performance for new applicants to be removed.
14. Data collected by Credit Rating Agencies is made available in public domain which is a threat to confidentiality & privacy.
15. Bank charges collected for various reasons to be monitored & stipulated by RBI.
All are requested to get this Press Release issued in the local Newspapers etc. of your area to give wide publicity.
Shri. Govind Lele,
National General Secretary,