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RBI constitutes Expert Committee on Micro, Small & Medium Enterprises

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The Reserve Bank of India (RBI) has constituted an Expert Committee, chaired by former Securities and Exchange Board of India (SEBI Chairman U K Sinha, on Micro, Small and Medium Enterprises (MSMEs).
 
The move is in pursuance of an announcement made by the central bank in its Fifth Bi-Monthly Monetary Policy Statement for 2018-19 on December 5, 2018.
 
"Considering the importance of the MSMEs in the Indian economy, it is essential to understand the structural bottlenecks and factors affecting the performance of the MSMEs. It has, therefore, been considered necessary that a comprehensive review is undertaken to identify causes and propose long term solutions, for the economic and financial sustainability of the MSME sector," a press release from the RBI said.
 
The other membersof the committee are: Ram Mohan Mishra, Additional Secretary, Development Commissioner, MSME; Pankaj Jain, Joint Secretary, Department of Financial Services, Ministry of Finance; P. K. Gupta,  Managing Director, State Bank of India; Anup Bagchi,  Executive Director, ICICI Bank;  Abhiman Das, Professor, IIM Ahmedabad; Sharad Sharma, co-founder, iSPIRT Foundation; and Bindu Ananth, Chair, Dvara Trust Member.
 
The terms of reference of the committee are:
 
--To review the current institutional framework in place to support the MSME sector;
--To study the impact of the recent economic reforms on the sector and identify the structural problems affecting its growth;
--To examine the factors affecting the timely and adequate availability of finance to the sector;
--To study the global best practices with respect to MSMEs and recommend its adoption in India, wherever appropriate;
--To review the existing MSME focused policies and its impact on the sector;
--To propose measures for leveraging technology in accelerating growth of the sector;
--To suggest long-term solutions for the economic and financial sustainability of the MSME sector;
 
The Expert Committee will submit its report by the end of June, 2019, the release added.
 
NNN
 

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