Latest news with #AttahOmarBasheer
Hans India
25-06-2025
- Business
- Hans India
AP Chambers seeks RBI's support for MSMEs
Vijayawada: The Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) in a letter to Sanjay Malhotra, Governor of the Reserve Bank of India (RBI) expressed its gratitude to RBI and the Union government for establishing an RBI Regional Office in Vijayawada. AP Chambers also welcomed the appointment of Attah Omar Basheer as regional director and expressed confidence in his leadership. In the representation to the RBI Governor, AP Chambers president Potluri Bhaskara Rao called this move a vote of confidence in the state's economic potential. The Chambers stated that it is a monumental step for Andhra Pradesh's financial ecosystem and reflects RBI's commitment to decentralised financial governance and inclusive development. Bhaskara Rao submitted key suggestions to strengthen the MSME sector, which is vital to Andhra Pradesh's growth. Some of them include expansion of access to Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), accepting agricultural land as loan collateral for MSMEs, capping SME loan interest rates at 9 per cent, reducing credit rating dependence for MSMEs, extending NPA classification period to 180 days, establish a permanent MSME loan restructuring framework, mandate TReDS participation for large corporates/PSUs on onboarding of MSMEs on TReDS platform, promoting digital lending and alternative credit scoring MSMEs, and offering financial literacy and risk training for MSMEs. He also suggested extending lending incentives to banks and NBFCs that actively lend to women-led, SC/ST, and rural MSMEs. He requested the RBI to conduct regular 'Town Hall' meetings to address the concerns of MSMEs.
Time of India
16-06-2025
- Business
- Time of India
RBI opens its regional office in Vijayawada
1 2 3 Vijayawada: Over a decade after the bifurcation of the state, Reserve Bank of India has opened its regional office in Andhra Pradesh. RBI deputy governor T Rabi Sankar formally inaugurated the office in the city on Monday. The office will be headed by regional director Attah Omar Basheer. However, the currency operations of AP will continue to be handled by the RBI's regional office in Hyderabad, which handles the operations of both AP and Telangana. RBI's regional office in AP will function with departments catering to integrated banking, financial inclusion and development, foreign exchange, and supervision. The human resource management dept, centralised establishment section, Rajbhasha cell, audit budget and control cell, information technology cell, and protocol and security establishment too will be functioning from Vijayawada. RBI will soon construct its own building in Amaravati. The state govt has already spared land in the capital city for the central bank's permanent regional office. The previous YSRCP govt prevailed upon RBI to set up its regional office in Visakhapatnam. However, it has made a retreat after the TDP-led NDA returned to power in the 2024 general elections. In fact, RBI delayed its decision to relocate to AP due to the change of policies with regard to capital city in the last one decade. With the state govt finally putting Amaravati works on the fast track, RBI decided to open its regional office in the state.
