Saturday, November 29, 2014: With an aim to examine the financial architecture for the micro, small and medium enterprises sector, the finance ministry has developed a committee under the chairmanship of K V Kamath, chairman, ICICI bank.
Giriraj Singh, Minister of State for MSME said in reply to the Rajya Sabha, “Pursuant of the budget announcement for 2014-15 regarding setting up of a committee to examine the financial architecture for the MSME sector, the Department of Financial Services has set up a committee under the chairmanship of K V Kamath,Chairman, ICICI Bank on 26 September.”
The committee involves 15 members including the joint secretary (Institutional finance) and their first meeting was held on 5 November. MSME sector contributes almost 45 per cent to the total manufacturing output and 40 per cent in country’s total exports. It provides jobs to over 60 million people across the country in different segments like readymade garments, leather, gems and jewellery, light engineering and handicrafts.
