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RBI convenes Townhall Meeting on MSMEs at Zikzak

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Ampati, May 11: Intending to reach out to MSME entrepreneurs of South West Garo Hills (SWGH), Reserve Bank of India (RBI), Shillong, convened a Townhall meeting on Micro Small and Medium Enterprises (MSMEs) at Multi Facility Centre (MFC), Zikzak on Wednesday.

Aiming to create awareness of banking facilities among the entrepreneurs, linking the unbanked entrepreneurs to the formal banking system, obtaining feedback from the entrepreneurs on problems faced by them in accessing Bank finance, etc., and also providing a two way communication amongst the stakeholders, the meeting was organised in unbanked/ underbank area.

Additional Deputy Commissioner of South West Garo Hills, AVD Shira, who was present on the occasion, while addressing the gathering reminded the borrowers to clear the loan dues on time and utilize the loan amount for the specific purpose they borrow rather than spending it for other personal purposes.

Highlighting the significance and objectives of the meeting and the various enabling policy measures taken by RBI, P Gangte, General Manager (O-I-C), RBI Shillong, who was also present on the occasion, emphasized that the meeting is one of a kind, where RBI listens directly to the suggestions, opinions, concerns and apprehensions of the MSME entrepreneurs, to decide on the best course of action to formally include them under the banking channel through credit linkage. He also added that this is a forum meant to felicitate a two way interaction between the financial service providers and the service recipients (MSME entrepreneurs) to resolve issues responsible for financial exclusion.

Addressing the gathering, Tshering Diki, Chairperson, Meghalaya Rural Bank, said that Meghalaya as a state with huge potential in tourism can uplift people’s lives, if they are willing to take up tourism entrepreneurship, for which one should avail loans and seek financial assistance from banks.

D Banai, AGM, SBI, Tura Branch, while addressing the gathering stressed on the availability of good schemes which can help entrepreneurs but due to lack of awareness, such schemes go underutilized. He also encouraged the borrowers to maintain a good CIBIL score so that they can avail loans easily from numerous banks.

Officials from RBI, Shillong made a presentation on MSME and also explained the benefits and required precautions for digital transactions.

The participants were cautioned about potential frauds and modus operandi connected with digital transactions and measures to avoid those security threats. Officials of SIDBI and the DCIC of South West Garo Hills also made presentations on schemes and guidelines to create awareness among the participants.

Loan sanction letters amounting to Rs 1.05 crore were also handed over to the entrepreneurs during the programme.

The programme concluded with a quiz and question and answer session where the successful participants were awarded bags imprinted with financial awareness messages from RBI Shillong.

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