The stimulus package announced by the Government for stimulating the economy, provided that “Special monthly meetings of State Level Bankers’ Committees would be held to oversee the resolution of credit issues of micro, small and medium enterprises by banks. The department of MSME and Department of Financial Services will jointly set up a Cell to monitor progress on this front. Matters of MSMEs remaining unresolved with the Banks –SME Helpline for more than a fortnight may be brought to the notice of this Cell”.

In pursuance, a MSME Credit Monitoring Cell has been constituted in the Office of Development Commissioner (MSME), Ministry of Micro, Small and Medium Enterprises. The names and contact details are:

(i) P. K. Mukherjee, Dy. Director, O/o DC(MSME) and (ii) Budh Prakash, Dy. General Manager, SIDBI (Contact Details – Telephone No. 23062219 email id creditmon@dcmsme.gov.in)

This Credit Monitoring Cell would entertain such cases that have been referred to the Cell after having not been resolved by the Bank within 14 days. The petition/grievance so received would be forwarded to the concerned Banks by the Cell with a request for appropriate action and report within a fortnight. A running serial number would be put on all the petitions/grievances received by the Cell for easy identification.

The progress in the resolution of credit issues of Micro, Small and Medium Enterprises received in the Cell will be monitored at meetings twice a week by Shri Praveen Mahto, Additional Economic Adviser in the Office of DC (MSME) and Shri Sanjeev Jindal, Deputy Secretary (Industrial Finance) in the Department of Financial Services, Ministry of Finance.

It will be overseen and reviewed by Sunita Chhibba, Economic Adviser in the office of DC (MSME).