Govt of India’s acceptance of the above report may speed up the resolution of 50cr and above but MSME is left out.
As per the committees’ report, the respective bank has to resolve in 90 days for MSME.
During the last 39 years of my experience and 3 years for the revival of sick MSME, I have found that middle and lower management in banks have become puppets and work on rumours or hearsay and have turned negative for resolution.
Reserve bank of India, has come out, time to time various guidelines/directive for MSME from ages but there is no mechanism at RBI and RBI has become post office only. officials at RBI also are slow.
So are we, all stakeholders want to solve NPA in MSME or Just give Lip Sympathy and no action.