With an objective to reach out to Micro Small and Medium Enterprises entrepreneurs, the Reserve Bank of India (RBI), Shillong conducted a town hall meeting in Mawkyrwat recently.
South West Khasi Deputy Commissioner Tableland Lyngwa, by Olden Nongpluh, GM (O-i-C), RBI Shillong, Regional Manager-SBI, General Manager-MRB, Officials from DCIC and DIPR, Govt. of Meghalaya, NABARD, SIDBI, MSME-DI, officials from various banks operating in the district and entrepreneurs from Tynnai Cluster attended the meeting on January 25.
Nongpluh highlighted the significance and objectives of the townhall meet and said such meetings will create awareness of banking facilities amongst the entrepreneurs and to link the unbanked entrepreneurs to the formal banking system, to obtain feedback from the entrepreneurs on the problems faced by them in accessing bank finance, etc., and providing a forum for a two-way communication amongst the stakeholders and the various enabling policy measures taken by RBI.
He emphasized that the townhall meeting is a one-of-a-kind meeting where the 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.
This is a forum meant to facilitate a two-way interaction between the financial service providers and the service recipients (MSME entrepreneurs) to resolve issues responsible for financial exclusion, he said.
The Deputy Commissioner exhorted the entrepreneurs to take full advantage of the meeting.
Officials from banks and other financial institutions also addressed the participants on various initiatives taken for MSMEs and the facilities available to existing as well as prospective entrepreneurs of the State.
Officials from RBI gave a presentation on MSME and also explained the benefits as also precautions needed for digital transactions. Participants were briefed about various potential frauds and modus operandi connected with digital transactions and how to avoid those security threats.
Officials from DCIC, South West Khasi Hills District and MSME-DI also gave presentations on various schemes and guidelines to the participants.
A few entrepreneurs shared their success stories and 26 loan sanction letters were also handed over to the entrepreneurs during the programme. Successful entrepreneurs of the cluster were also felicitated during the programme.
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