Face2News/Ludhiana
The Reserve Bank of India (RBI) organized an MSME Town Hall Meeting in Ludhiana with the objective of strengthening dialogue with Micro, Small and Medium Enterprises (MSMEs).
On the occasion, Shri Vivek Srivastava, Regional Director, Reserve Bank of India, Chandigarh was present as the Chief Guest. The programme was attended by Shri Pankaj Setiya, General Manager, Reserve Bank of India, along with senior officials from State Bank of India, Punjab National Bank, Punjab & Sind Bank, Canara Bank, HDFC Bank, Punjab Gramin Bank, representatives from SIDBI, MSME-DFO, District Industries Centre (DIC), NSIC and industry associations including approx. 120 MSME entrepreneurs from the region. Shri Pankaj Setiya welcomed the distinguished guests and participants and highlighted the importance of direct and meaningful interaction with MSME entrepreneurs.
In his inaugural address, Shri Vivek Srivastava highlighted the continuous efforts undertaken by RBI to strengthen MSME ecosystem. He outlined RBI’s initiatives including Priority Sector Lending (PSL), Collateral-Free Loans, Trade Receivables and Discounting System (TReDS), specialized 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. Shri Srivastava also emphasized that enhanced awareness and outreach are critical to ensuring that the benefits of these measures reach the intended beneficiaries.
The event included focused sessions on key 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.
Besides that, Shri Vivek Srivastava visited the Garment and Knitwear Cluster in Ludhiana and discussed the on-ground challenges faced by the entrepreneurs in the cluster.