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. Accordingly, RBI has formed the said Committee today with the following composition: | 1 | Shri U.K. Sinha
Former Chairman, Securities and Exchange Board of India | Chairman | | 2. | Shri Ram Mohan Mishra
Additional Secretary, Development Commissioner MSME | Member | | 3. | Shri Pankaj Jain
Joint Secretary, Department of Financial Services, Ministry of Finance | Member | | 4. | Shri P. K. Gupta
Managing Director, SBI | Member | | 5. | Shri Anup Bagchi
Executive Director, ICICI Bank | Member | | 6. | Shri Abhiman Das
Professor, IIM-Ahmedabad | Member | | 7. | Shri Sharad Sharma
Co-Founder, iSPIRT Foundation | Member | | 8. | Ms. Bindu Ananth
Chair, Dvara Trust | Member | The terms of reference of the committee are given below: -
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. Jose J. Kattoor
Chief General Manager Press Release: 2018-2019/1540 | |