ENA State 2018-12-14 06:57:50 <p><strong>New Delhi, Dec 14 (KNN)</strong> The Micro, Small and Medium Enterprise (MSME) sector has tremendous scope in Jammu and Kashmir (J&amp;K) but still suffers slow growth in the state said Satya Narain, General Manager, Reserve Bank of India (RBI).</p> <p>He asked the banks to step up their efforts towards targeting MSME sector.</p> <p>He said this during the 42nd Empowered Committee Meeting on MSMEs for J&amp;K. The meeting was conducted by RBI.</p> <p>The penetration of MSMEs in India is still on the lower side and a large portion of these units depend on finance from the informal sector, he added.</p> <p>The banks assured the house that they are committed to empowering the MSME sector by providing in-time and adequate financing and appraised the house regarding the initiatives taken by them in this direction.</p> <p>The participants assured to work closely with all stakeholders for nurturing and supporting the sector for the overall development of the State.</p> <p>The meeting was chaired by Thomas Mathew, Regional RBI Director Jammu and was attended by the controlling heads of J&amp;K Bank, SBI, PNB and other major banks in the State, representative from SLBC convenor bank, Director, Industries and Commerce, General Manager, SIDCO, representative from MSME-DI and representatives from various trade associations.</p> <p>The bank representatives sought the support of associations in recovery of NPAs to which the associations offered their full support.</p> 21538 https://knnindia.co.in/news/newsdetails/state/msmes-suffers-slow-growth-in-jk-rbi-official 2018-12-14 06:57:50 knnindia.co.in