Ludhiana, December 19
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, 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 & 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. Pankaj Setiya welcomed the distinguished guests and participants and highlighted the importance of direct and meaningful interaction with MSME entrepreneurs.
In his inaugural address, 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. 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.
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.
Besides that Vivek Srivastava visited Garment and Knitwear Cluster in Ludhiana and discussed the on-ground challenges faced by the entrepreneurs in the cluster. With Ludhiana’s rich legacy of industry and entrepreneurship, the event marked an important milestone in RBI’s grassroots engagement efforts. The event concluded with a renewed sense of confidence and clarity among the attending entrepreneurs.
