Amendment status not verified — confirm the current text below against the official source.
Revival of Sick MSMEs 7.1 The Micro & Small enterprises are prone to sickness due to various reasons. Reserve Bank of India has notified a framework for revival and rehabilitation of sick MSMEs vide their circular RBI/2015-16/338 dt.17.3.2016. 7.2 State Government shall closely monitor implementation of the frame work for identification, nursing and providing rehabilitation package to potentially viable sick units of the state under the frame work. 7.3 The identified viable sick MSMEs shall be assisted at par with new industrial units for assistance / incentives admissible under this policy. 10 7.4 An Empowered Committee under the Chairmanship of Principal Secretary / Secretary, MSME shall monitor credit flow to MSMEs including potentially viable sick units quarterly. The Committee shall comprise of the following: i. Principal Secretary / Secretary, MSME Department Chairman. ii. Director, Institutional Finance, Government of Odisha Member iii. Regional Director, RBI, Bhubaneswar Member iv. Convenor, State Level Bankers Committee Odisha Member v. General Manager, SIDBI, Bhubaneswar Member vi. Regional Heads of all Commercial / Rural Banks Member vii. Managing Director, OSFC Member viii. Director, MSME DI, Government of India, Cuttack Member ix. Representative of two State Level Industries Association (to be rotated bi-annually) Member x. Director of Industries, Odisha Member-Convenor Any other member as per requirement may be co-opted by the Chairman.