During a meeting on Friday, the RIL's board of directors, based on the recommendation of the human resources, nomination and remuneration committee, considered and recommended to shareholders for approval of the appointment.

New Delhi Mar 30 PTI The Union Cabinet on Wednesday approved a World Bank-assisted Rs 6062 crore funding programme for the small and medium businesses to help improve their access to market and credit The Cabinet Committee on Economic Affairs CCEA chaired by Prime Minister Narendra Modi approved the Rs 606245 crore or USD 808 million Raising and Accelerating MSM Performance RAMP for the micro small and medium enterprises MSMEs an official release said RAMP will commence in FY23 it said Of the total outlay under the programme Rs 3750 crore USD 500 million will come from World Bank loan and the remaining Rs 231245 crore will be funded by the central government RAMP will work under the Ministry of MSME MoMSME towards resilience and recovery interventions after the coronavirus disease The programme aims at improving access to market and credit strengthening institutions and governance at the Centre and state improving Centre-state linkages and partnerships addressing issues of delayed payments and greening of MSMEs In addition to building the MoMSMEs capacity at the national level the RAMP programme will seek to scale up implementation capacity and MSME coverage in states the release said The government formulated and proposed RAMP for strengthening MSMEs in line with the recommendations of the UK Sinha committee KV Kamath committee and the Economic Advisory Council of the Prime Minister EAC-PM RAMP programme with impacts across the country will directly or indirectly benefit all 63 crore enterprises under the MSME category A total of 555000 MSMEs are specifically targeted for enhanced performance In addition expansion of target market to include service sectors and increase of about 70500 women MSMEs is envisaged the release said RAMP has identified two result areas after preliminary missions and studies first is to strengthen institutions and governance of the MSME programme and second is to support market access firm capabilities and access to finance Funds would flow through RAMP into the ministrys budget against Disbursement Linked Indicators DLIs to support ongoing MoMSME programmes focusing on improving market access and competitiveness The disbursement of funds from the World Bank towards RAMP would be made on fulfilling DLIs such as implementing the national MSME reform agenda accelerating MSME sector Centre-state collaboration enhancing effectiveness of Technology Upgradation Scheme CLCS-TUS The government said the programme will prepare Strategic Investment Plans SIPs in which all the states and Union Territories will be invited The SIPs would include an outreach plan for identification and mobilisation of MSMEs under RAMP identify key constraints and gaps set milestones and project the required budgets for interventions in priority sectors including renewable energy rural and non-farm business wholesale and retail trade village and cottage industries women enterprises among others The apex national MSME council headed by the minister for MSME will monitor and look after the policy overview of RAMP An RAMP programme committee headed by the Secretary of MoMSME will monitor specific deliverables the government said For day-to-day implementation there would be programme management units at the national level and in states comprising professionals and experts competitively selected from the industry to support MoMSME and states to implement monitor and evaluate RAMP programme the release said PTI KPM KPM HVA HVA