New Delhi: Focusing on providing relief measures to Ministry of Micro, Small and Medium Enterprises, Finance Minister Nirmala Sitharaman on Monday held a review meeting with the Chief Managing Directors of Public Sector banks in New Delhi, stated news agency ANI.
It must be noted that the Corporate Affairs Ministry has a complete list of companies that needs to pay an outstanding amount of nearly Rs 40,000 crores to MSMEs. Referring to the list, Sitharaman said that the secretary of corporate affairs and secretary of banking will ensure that this data, in desegregated form, is given to the public sector banks, as per news agency ANI.
“The banks then shall make an attempt to approach all of these MSMEs and ask them if want a bill discounting because that is openly claimed by the companies. By 22nd I have asked them to report back saying if the MSMEs are willing to have the bill discounted & collect the money,” Sitharaman was quoted by news agency ANI as saying.
Further, the Finance Minister was quoted by news agency ANI as saying, “I’ve requested the Secretary MCA to write to all these companies that ‘you have claimed this is what has to be paid to the MSMEs. Will you expedite the payment and get that cleared’. So we are taking a two-pronged approach so that MSMEs, before Diwali, will get the due amount.”
Some of the top officials who attended the meeting include Finance Secretary cum Secretary Department of Financial Services Rajeev Kumar, Secretary DEA Atanu Chakraborty, Secretary Revenue Ajay Bhushan Pandey, Secretary Expenditure G C Murmu and Chief Economic Advisor SubramanianKri, stated the Ministry of Finance in its official Twitter account.