TIRUCHI
Tamil Nadu Boilers Association has made a representation to Reserve Bank of India (RBI) explaining the critical condition of the MSME sector with particular reference to the Tiruchi Engineering Cluster.
Seeking positive measures for survival and growth of MSME units, the Treasurer of the Association Rajappa Rajkumar urged RBI Governor Shaktikanta Das to prevail upon banks to stop all the legal process under SARFAESI (Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest) Act for the units that have become stressed and turned into non-performing assets, considering the genuineness of the manufacturing units.
Mr. Rajappa Rajkumar, who is also the president of the BHEL Small Industries Association, interacted with the RBI Governor through video-conference on Thursday to convey the plight of the MSME sector in Tiruchi and to seek relief.
The BHELSIA president mooted the formation of a separate Rehabilitation Cell for uniform implementation of the guidelines and also for proper monitoring of the Units.
The RBI Governor, Mr. Rajappa Rajkumar said, was very receptive and assured to take up the matter with the Finance Minister and Secretary - Department of Financial Services.
Mr. Sakthikanta Das also obtained feedback on the services of the banks and got an update on the order book position of the industry here.
