RBI Organises Town Hall Meeting For MSME Entrepreneurs In Srinagar

(MENAFN- Kashmir Observer) Srinagar- Reserve bank of India, Jammu Tuesday organised a town hall meeting for the MSMEs entrepreneurs in Srinagar.

The event was presided over by Chandrashekhar Azad, Regional Director, RBI, UTs of JK and Ladakh and attended by Neeraj Kumar, General Manager, RBI; Raees Maqbool, GM, UTLBC, J&K; Ashutosh Sareen, GM, Jammu & Kashmir Bank; Saheel Yaqoob, Assistant Director, MSME-DFO; Anil Kumar Sharma, DGM, PNB, other senior bankers and representative from Industries associations. Around 150 entrepreneurs/ prospective entrepreneurs participated and benefited from the programme.

At the outset Chandrashekhar Azad, Regional Director, RBI, UTs of J&K and Ladakh welcomed the participants and explained that the objectives behind conducting Town Hall meetings are to create awareness of banking facilities amongst the entrepreneurs in clusters, link the unbanked entrepreneurs to the formal banking system and create a platform for a two-way communication amongst the stakeholders. He further elaborated that the Town Hall meeting is a medium for resolving issues, facilitating credit linkage and disseminating of the information / guidelines issued by RBI pertaining to MSME sector. He also explained the untapped potential in MSME sector in employment generation and economic prosperity of the country and exhorted the entrepreneurs to come forward and be partners in economic growth of the country. He highlighted that in UT of J&K, MSME sector achieved 134% of Annual Credit Plan (ACP) target for the year 2024-25 up to December 2024. Also, credit outstanding in MSME sector achieved a growth of 10.51% from December 2023 to December 2024 in UT of J&K.

Presentations on Credit Guarantee Architecture for MSE finance, Credit Scoring and Rating Models for Financing of MSMEs and TReDS Platform were delivered by experts on the subject. During the question hour session, participants interacted freely and clarified their doubts with all stakeholders. The participants as well as the senior officers of the banks highly appreciated the efforts of RBI on reaching out to the people directly for their benefit by holding such meeting.

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