RBI organises MSME town hall meet
The Reserve Bank of India (RBI) organised a town hall meeting in Ludhiana with the objective of strengthening dialogue with Micro, Small and Medium Enterprises (MSMEs). On the occasion, Vivek Srivastava, Regional Director, Reserve Bank of India, Chandigarh was present as the chief guest.
The programme was attended by Pankaj Setiya, General Manager, Reserve Bank of India, along with senior officials from State Bank of India, Punjab National Bank, Punjab and Sind Bank, Canara Bank, HDFC Bank, Punjab Gramin Bank, representatives from SIDBI, MSME-DFO, District Industries Centre (DIC), NSIC and industry associations including as many as 120 MSME entrepreneurs from the region.
In his inaugural address, Srivastava highlighted the continuous efforts undertaken by RBI to strengthen the MSME ecosystem.
He outlined RBI’s initiatives, including Priority Sector Lending (PSL), Collateral-Free Loans, Trade Receivables and Discounting System (TReDS), specialised MSME branches, restructuring guidelines, Unified Lending Interface (ULI) etc. which have helped millions of entrepreneurs to access timely and affordable credit and contribute to India’s GDP and export growth. Srivastava also emphasised that enhanced awareness and outreach were critical to ensuring that the benefits of these measures reached the intended beneficiaries.
The event included focused sessions on key Union Government initiatives for the MSME Sector including Cluster Development Program (MSE-CDP), GST-Sahay, MUDRA, PMEGP and hand-holding session aimed at enhancing credit profile of MSMEs. The participants witnessed an inspirational experience sharing as entrepreneurs recounted their transformative journeys, motivating and energising the audience.
Dedicated display stalls set up by entrepreneurs showcased locally-manufactured products, while banks set up informative counters to create awareness about various financial schemes. Bank officials actively engaged with participants, addressing queries related to delayed payments, collateral-free loans, credit guarantee mechanisms, and timely access to working capital.
