Jammu, Nov 10 (KNO): The Reserve Bank of India (RBI), Jammu, has called for strengthening credit support and promoting formalisation of Micro, Small and Medium Enterprises (MSMEs) in Jammu and Kashmir and Ladakh.
In a statement issued to the news agency—Kashmir News Observer (KNO), RBI said that its Jammu office held the 72nd meeting of the Empowered Committee on MSMEs for the Union Territories of Jammu and Kashmir and Ladakh for the quarter ended September 30, 2026.
The meeting was chaired by Prabhakar Jha, Regional Director, RBI, Jammu, and attended by representatives of various government departments, banks, financial institutions and industry associations.
In his inaugural address, the Regional Director highlighted the significant contribution of the MSME sector to India's economic growth and its potential for employment generation and entrepreneurship in the two Union Territories.
Stressing the opportunities in sectors such as handicrafts, handloom, food processing, horticulture and tourism, he stressed the need to enhance institutional credit, promote formalisation of enterprises and facilitate market access.
He also urged banks to strengthen efforts towards wider adoption of Udyam Registration, Udyam Assist and TReDS platforms and improve coverage under credit guarantee schemes.
The Committee reviewed the flow of credit to the MSME sector, district-wise credit deployment, achievement of targets under the MSME Annual Credit Plan 2026-27, availability of collateral-free loans, NPAs and coverage under CGTMSE.
Progress under Government-sponsored schemes, including PMEGP, PM-SVANidhi, PM-MUDRA and PM-Vishwakarma, was also reviewed. Other matters discussed included the implementation of the Framework for Revival and Rehabilitation of stressed MSME units, pendency in credit decisions on loan applications up to Rs 25 lakh from MSE borrowers and availability of banking facilities in MSME clusters.
The participating banks and stakeholders assured the Committee of appropriate follow-up action on the issues and suggestions discussed during the meeting, with a view to improving credit flow and strengthening the MSME ecosystem in Jammu and Kashmir and Ladakh—(KNO)