RBI holds meeting on financing MSMEs

NONGPOH: As part of an effort to sensitize the potential and existing entrepreneurs on different aspects of lending to MSMEs, the Reserve Bank of India (RBI) on Thursday organized a one-day town hall meeting on Micro, Small & Medium Enterprises at Rural Resource and Training Centre (RRTC) Hall Umran, Ri Bhoi District.

The programme was graced by BJ Kharshandy MCS, Addl. Deputy Commissioner and Project Director DRDA in the presence of Anurag Asthana GM Officer-in-charge RBI Shillong, B Barma, MCS, BDO Umsning and others.

The programmes were also attended by the officials from state government, Regional Heads, Senior officials of major commercial banks and other financial institutions operating in the area and around one hundred fifty local entrepreneurs.

Anurag Asthana in his keynote address highlighted the various enabling policy measures taken by the RBI like not to accept collateral security in the case of loans up to Rs. 10 lakh extended to units in the MSE sector, no loan related ad hoc service charges or inspection charges should be levied on priority sector loans up to Rs. 25,000 MSE loan, application for the credit limit or enhancement in the existing credit limit up to Rs 5 lakh should be disposed of within two weeks etc., to facilitate the growth of MSMEs in the country.

He also informed that the RBI Shillong had conducted a survey prior to gauge the entrepreneurial potential of various areas in Ri Bhoi District such as Umden & Umroi area for textile (embroidery and handloom), Nongrim Nongladew area for cane and bamboo handicraft whereas Nongpoh area for food processing and also post the interactions with various stakeholders involved in MSME finance.

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