Namsai, Mar 3: Emphasizing the critical role of Micro, Small and Medium Enterprises (MSMEs) in nation-building, a senior official of the Reserve Bank of India (RBI) has said that the MSME ecosystem is the backbone of the country’s economic development.
Inaugurating the two-day National Mission on Capacity Building of Bankers for Financing MSMEs (NAMCABS) workshop here on Monday, RBI (Itanagar) General Manager (GM) Abhijit Majumdar called upon bankers to adopt a more responsive and entrepreneur-friendly approach, particularly in the current global environment where strengthening local manufacturing is vital for Prime Minister’s “Vocal for Local” campaign and achieving goal of Viksit Bharat by 2047.
He also highlighted that such capacity-building initiatives enable frontline officers to stay aligned with evolving regulatory expectations, technological advancements, and emerging best practices in MSME lending.
Technical sessions during the two-day workshop were conducted by subject-matter experts from RBI, NABARD, SBI and Industries Department of Govt of Arunachal Pradesh. The sessions covered practical aspects of MSME credit assessment, risk mitigation, latest Guidelines of RBI on MSME Financing and recent initiatives of Govt of India for MSME sector, Credit Guarantee Architecture or CGTMSE for MSE finance, Technological Interventions for MSME Lending such as lending based on digital footprint of the borrower, Understanding Entrepreneurial needs in MSME Financing, Management of NPA and Recovery, etc.
Representatives of both public and private sector banks enthusiastically participated in the workshop, appreciating the RBI’s initiative in organizing this programme and conveyed that the knowledge gained will enhance their ability to support viable MSME units more effectively on the ground.