The Reserve Bank of India (RBI) organized a special Town Hall Meeting for MSMEs and entrepreneurs to mark the occasion of International MSME Day. The event underscored the RBI’s long-standing commitment to strengthening India’s micro, small, and medium enterprises, which are widely recognized as the backbone of the nation’s economy.
Sh. Vivek Srivastava, Regional Director, RBI Chandigarh, was the chief guest on the occasion. Speaking at the Town Hall, he emphasized that the RBI has consistently championed the cause of the MSME sector through various initiatives such as Priority Sector Lending (PSL), Collateral-Free Loans under CGTMSE, guidelines on the Credit Proposal Tracking System, specialized MSME branches, and restructuring mechanisms.
These initiatives have enabled millions of entrepreneurs to access finance, grow their businesses, and contribute significantly to India’s GDP and exports. He also pointed out that despite the existence of numerous policies, many challenges facing the MSME sector persist. Increased awareness is critical to ensuring that the schemes introduced for the sector reach and benefit the intended recipients.
The event was also graced by Sh. Pankaj Setiya, General Manager, RBI, and senior officials from SBI, HDFC, PNB, Canara Bank, PSB, SHGB, along with representatives from SIDBI, DIC, MSME DFO, and other key stakeholders. MThe event featured in-depth sessions on government and RBI initiatives including MUDRA, PMEGP, PM Vishwakarma, and Stand-Up India.
Sh. Sanjay Prakash Srivastava, General Manager, Punjab and Sind Bank, conducted hand-holding sessions focused on facilitating bank credit for entrepreneurs. Special attention was given to women entrepreneurs and first-time borrowers, with detailed information on schemes like Stand-Up India, Mahila Udyam Nidhi, and digital onboarding platforms. Participants were deeply inspired by real-life success stories shared by entrepreneurs, who recounted their transformative journeys.
The event also showcased dedicated display stalls set up by entrepreneurs to exhibit their products. Banks established informative counters to spread awareness about various financial schemes. Bank officials actively engaged with participants, addressing queries related to delayed payments, collateral-free loans, credit guarantee schemes, and access to timely working capital.
In addition, Sh. Vivek Srivastava visited the MSME Handloom Cluster in Panipat and engaged in discussions about the on-ground challenges faced by entrepreneurs. The entrepreneurs shared how schemes like MUDRA and TReDS helped them secure timely finance, improve operations, and expand employment locally.
With Panipat’s rich legacy of industry and entrepreneurship, the event marked an important milestone in the RBI’s grassroots engagement efforts. It concluded with a renewed sense of confidence and clarity among the participating entrepreneurs.