Shillong, June 25: With an eye on boosting entrepreneurship and improving access to finance for small businesses, the Reserve Bank of India (RBI), Shillong, on Thursday organised an MSME Awareness Camp in Shillong ahead of International MSME Day, bringing together around 150 existing and aspiring entrepreneurs from across Meghalaya.
The programme, held at the State Convention Centre as part of a week-long observance leading up to International MSME Day on June 27, saw participation from government departments, banks, financial institutions and industry stakeholders.
The event was inaugurated by Olden Nongpluh, General Manager (Officer-in-Charge), RBI Shillong, while Shri Moon Lander Wanshnong, Director of the Department of Commerce and Industries, Government of Meghalaya, attended as the chief guest.
Senior officials from the Directorate of Commerce and Industries Centre (DCIC), NABARD, SIDBI, MSME Development and Facilitation Office (MSME-DFO), Meghalaya Rural Bank, State Bank of India, HDFC Bank, Canara Bank and other institutions also participated.
Addressing the gathering, RBI officials highlighted several initiatives aimed at strengthening financing for micro, small and medium enterprises (MSMEs), including Priority Sector Lending targets, the Trade Receivables Discounting System (TReDS), the Unified Lending Interface and measures to promote formalisation and timely access to credit.
Entrepreneurs were also encouraged to adopt digital payments, maintain credit discipline and embrace digital bookkeeping practices.
Speaking on the occasion, Olden Nongpluh described MSMEs as the “nurseries of entrepreneurship” and underscored their vital role in driving economic growth, generating employment and fostering innovation.
He reiterated RBI’s commitment to improving structured access to formal credit and highlighted recent measures such as the enhancement of collateral-free loan limits to ₹20 lakh, waiver of prepayment charges on eligible MSME loans and steps to expedite loan sanctions.
Chief guest Moon Lander Wanshnong said the Meghalaya government has been actively promoting entrepreneurship through incubation support, market linkages, skill development initiatives and various support schemes.
Emphasising the importance of timely and affordable credit, he said MSMEs are key drivers of Meghalaya’s socio-economic transformation and appreciated RBI’s efforts in bringing together stakeholders on a common platform to strengthen the state’s entrepreneurial ecosystem.
The camp also featured interactive sessions on RBI policies, central and state government schemes, banking products, eligibility criteria and institutional support available to MSMEs. Successful entrepreneurs shared their experiences on business planning, expansion and market linkages, providing inspiration to aspiring business owners.
Participants actively engaged in discussions and welcomed the initiative, with the event reaffirming the collective commitment of stakeholders towards strengthening Meghalaya’s MSME ecosystem, promoting financial inclusion and encouraging entrepreneurship in the state.
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