The Hindu : Andhra Pradesh News : Rescheduling of small units’ loans demanded

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Sunday, Jan 04, 2009
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Andhra Pradesh

Andhra Pradesh

Rescheduling of small units’ loans demanded

Correspondent

Banks not following RBI guidelines, says FAPI chief

APJDCL formed to encourage mesta farmers
YSR flayed for not earmarking land for jute park

VIZIANAGARAM: Following recession in economy, Federation of Andhra Pradesh Industries president B.V. Rama Rao on Saturday demanded that the national banks reschedule the dues of small and medium industries as per the RBI guidelines and save them from becoming non-performing assets.

At a press conference here, he said the banks had not been following the RBI guidelines and demanded convening of state-level bankers’ meeting every month to discuss the problems of small industries.

Mr. Rama Rao said with an objective to encourage mesta farmers, A.P. Jute Development Centre Limited was established with public and private partnership.

The Jute Corporation of India and the APJDCL would lift stock from jute growers at remunerative price and supply to jute twine factories. He said the jute twine factories were facing threat due to non-availability of raw material. There has been sharp drop in crop area of mesta in the two north Andhra coastal districts due to lack of encouragement from the government. Demanding that the government import jute from Bangladesh and supply to the industry, he said the JCI was not supplying jute to twine mills.

He criticised the Chief Minister for not earmarking land for a jute park.

The FAPI chief said it started the Federation of Indian Micro, Small and Medium Enterprises Association to bring all small and medium enterprises under one roof and project their problems before the Central and State Governments for a solution.

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