Mumbai, April 4: Reserve Bank deputy governor Rakesh Mohan today asked banks to look at ways of assisting small and medium enterprises (SMEs). This should include providing advisory services for restructuring “at a reasonable fee”.
Mohan, who was delivering a special address at the two-day Banking Summit 2003 organised by the Confederation of Indian Industry (CII), pointed out that the SME sector has been affected by the reform process in the country.
Mohan said that SMEs are facing difficulties in securing bank finance as the sector finds itself in the black books of bankers over non-performing assets. Restructuring efforts should be resorted to bring the sector back on its feet, he added.