Chakrabarty made this comment while addressing an SME banking conclave here on Saturday. “As much as 92.7 per cent of SMEs are self-financed. I don’t think all of them require finance … they require working capital. The problem is that smaller people are not getting finance,” he said.

The RBI official opined that the banks' commitment should be passed on to branch managers and others down the line. “Can any bank give me branch-wise details of MSME advances. When bank management starts monitoring the targets, the branch manager will know that the bank is serious.”

The deputy governor further said that the 80 per cent of branch managers are not doing anything. “The banking sector is doing well because 20 per cent of branch managers are functioning.

In his address, Chakrabarty didn't forget to rap the venture capitalists, too. “How many SMEs have got finance from venture capital firms?,” he asked.

The RBI official urged banks to start financial management advisory consultancy services to help SMEs in financial management, and disclose segment-wise interest rates they are charging to ensure transparency.

“There are 7 crore non-frills accounts which have not even given Rs. 7 lakh. I will be happy if Rs. 70,000 is given. Top bank officers say we’re sensitive, we’re compassionate, we will do this... and that. Convert this into action. Pass on your commitment down the line. The moment this is passed on to them, they will know the management is serious,” he said.