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"I assure the representatives of the industry associations that all the required steps will be taken from the Banks' side to mitigate the affect of the crisis," State Level Bankers Committee (SLBC) President R S Reddy, who is also the Chairman and Managing Director of Andhra Bank, said.
He was speaking to senior bankers at the SLBC meeting held here today on RBI's direction to discuss the problems of SMEs and measures taken by the banks.
Reddy said the banks will have to initiate steps to achieve the credit disbursing targets to SME sector for the current year.
Although, they have fixed a credit target of Rs 30,000 crore for 2008-09, however, it could extend loans to the tune of Rs 20,821 crore till date.
He said there is a need to change the mind set of the field level officers about the SIDBI's Credit Guarantee Fund Turst for Micro and Small Enterprises.
Reddy asked the banks have to follow the guidelines of the government and SIDBI and issue instructions to their respective branches ensuring speedy implementation.
He suggested the banks should strengthen the review mechanism of major branches, where SMEs are concentrated by posting best managers, who can speed up the implementation of lending process.
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