RBI's VSTEM Initiative Strengthens MSME Credit Access In Wardha

(MENAFN- KNN India) Mumbai, Apr 18 (KNN) The Reserve Bank of India, Nagpur, organised a district-specific Vidarbha Specific Training for Empowering MSMEs (VSTEM) workshop along with a townhall meeting in Wardha on April 17, 2026, aimed at strengthening financial inclusion and supporting MSME development.

The programme saw participation from over 200 MSMEs and aspiring entrepreneurs. It marked the fourth workshop in the VSTEM series, following similar initiatives in Gadchiroli, Nagpur, and Yavatmal, focused on improving access to formal credit and institutional support.

Focus on Local Industries, Schemes and Digital Platforms
Speakers highlighted the importance of capacity building and integration of entrepreneurs into the formal financial ecosystem, with a special focus on Wardha's handloom sector and its potential in eco-friendly textiles and digital markets.

The workshop included sessions on compliance and business processes such as Udyam Registration, GST procedures and record-keeping.

Participants were also briefed on schemes including PMEGP, CMEGP, MUDRA, CGTMSE and PM Vishwakarma, along with guidance on leveraging the GeM platform for market access.

Interactive Engagement and District-Focused Approach
The event concluded with interactive discussions, allowing entrepreneurs to directly engage with RBI officials, bankers and government representatives.

Key highlights included a district-specific approach aligned with local economic potential, focus on credit literacy and development of bankable projects, and emphasis on GST compliance, Udyam registration, GeM onboarding and financial literacy.

(KNN Bureau)

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