RBI constitutes expert committee on MSMEs

The Sinha-led panel has also been asked to propose measures for leveraging technology in accelerating the growth of the sector and suggest long-term solutions for the economic and financial sustainability of the MSME sector, as per RBI data.

Jan 03, 2019 02:01 IST India Infoline News Service

Reserve Bank of India
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.

Towards this end, it was announced in the Fifth Bi-Monthly Monetary Policy Statement for 2018-19, dated December 5, 2018, that the RBI will constitute an Expert Committee on Micro, Small and Medium Enterprises, the RBI said in a statement.

Accordingly, RBI has formed the said Committee with the following composition:

The panel has been asked to review the current institutional framework in place to support the MSME sector and study the impact of the recent economic reforms on the sector and "identify the structural problems affecting its growth".

To study the global best practices with respect to MSMEs and recommend its adoption in India, wherever appropriate, and review the existing MSME focused policies and its impact on the sector are among the issues which the panel will look into.

The Sinha-led panel has also been asked to propose measures for leveraging technology in accelerating the growth of the sector and suggest long-term solutions for the economic and financial sustainability of the MSME sector, as per RBI data.

1 U.K.Sinha 
Former Chairman, Securities and Exchange Board of India
Chairman
2. Ram Mohan Mishra
Additional Secretary, Development Commissioner MSME
Member
3. Pankaj Jain 
Joint Secretary, Department of Financial Services, Ministry of Finance
Member
4. P. K. Gupta 
Managing Director, SBI
Member
5. Anup Bagchi
Executive Director, ICICI Bank
Member
6. Abhiman Das
Professor, IIM-Ahmedabad
Member
7. Sharad Sharma 
Co-Founder, iSPIRT Foundation
Member
8. Bindu Ananth
Chair, Dvara Trust
Member

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