Surat :

More than 35 public sector and private banks has organised a customer outreach initiative in the city where loan advances worth Rs 480 crore was sanctioned to textile MSME, agriculture and retail sectors. As per the instructions of Ministry of Finance, Department of Financial Services, a two days programme was held at Surat International Exhibition and Conference Hall on 4 and 5 October, 2019.

Shri Murali Ramaswami, Executive Director, Bank of Baroda inaugurated the Customer Outreach Initiative at Surat. He said that the loan initiative programme will give relief and boost retail and MSME sectors reeling under recession ahead of Diwali. Executives from various bank’s, other financial institution and Mr. Ketan Desai, President of South Gujarat Chamber of Commerce and Industry were also present during the inauguration ceremony.

Bank of Baroda, State Bank of India, Punjab National Bank, Corporation Bank and several other banks participated in the event. Banks awarded MSME, Retail, Agriculture sanction letters to their customer during the inauguration eremony on 4 October. Bank of Baroda Sanctioned Loans worth of Rs 165 Crores to their MSME customer and all other Banks sanction loans worth of Rs 314 crore to their respective customers.

Please don’t include textile under RCEP agreement, weavers urged to PM

Surat :

The Powerloom weavers are strongly opposing the Regional Comprehensive Economic Partnership (RCEP) agreement, a trade agreement with 16 Asian countries, to be signed by India in November 2019. They have started sending Postcards to Prime Minister Narendra Modi, urging to keep textile sector out of RCEP scheme. They are arguing that under this scheme, China, Vietnam will dump its textile goods in the Indian market at zero per cent duty and its cheap goods will spell trouble.

More than one lakh weavers and workers from Surat and Bhiwandi are sending postcards to Modi for exclusion of textile sector from RCEP scheme. The postcards state that if govt. signed the RCEP agreement, the powerloom weaving sector of the country will collapsed. Cheap fabrics from China, Vietnam and Bangladesh would be dumped in the country, resulting in closure of small and medium weaving units and thousands of workers will become jobless.

Mayur Golwala, member of Federation of Gujarat Weavers Association said, the central government has proposed inclusion of textile industry under RCEP scheme allowing for free import of polyester fabrics from China, Vietnam along with other countries in South East Asia. We have call a meeting on 16th October to discuss the Centre’s decision to sign the RCEP deal. The weaving association of Surat and Bhiwandi will make representations to the government about the disadvantages of this agreement. They will demand the government to consult industry stakeholders and take a decision.