We will now report on the outcome of today’s meeting, during which we took a number of decisions on key ECB interest rates, liquidity provision and possible ways forward to enhance the provision of credit. The meeting was also attended by the Commission Vice-President, Mr Rehn.
As Government has already set up a committee for amendment of Companies’ Act, it is probably necessary that the revised Companies’ Act should prescribe simplified disclosures norms and ICAI should come out with simplified account standards for SMEs. 23. Lastly, banks need to effectively implement the RBI guidelines and significant policy initiatives which facilitate ease of credit flow to small entrepreneurs. Conclusion 24.