Activities Round Up

Date : 02 May to 02 May 2014
Place : New Delhi
Organised by : FISME

Reserve Bank- FISME Town Hall meeting with MSMEs in Badli, New Delhi

Reserve Bank (Delhi Region), with the support of Federation of India Micro and Small & Medium Enterprises (FISME), held its first town hall meeting on 2nd May 2014, with the Badli Industries Association which was chaired by the General Manager, Rural Planning and Credit Department (RPCD), RBI, Sonali Sengupta.

The main objective of the meeting was to discuss the grievances and feedback that the small entrepreneurs face with the public as well as private sector banks.
Most of the MSMEs face problems of finance in general and institutional funding in particular while entrepreneurs spend 70 to 80 per cent of their time in dealing with finance related matters, representatives of small industries in west Delhi area of Badli told RBI at the townhall meeting, an initiative of the central bank along with the industry body FISME.

Some of the other issues raised during the meeting were about time taken in receiving payments from abroad; higher valuation charges; long and cumbersome paperwork in getting finance, insistence on collateral security; higher rate of interest; higher cost of financial services etc.

The meeting was attended by Assistant Managers from Canara Bank, Oriental Bank of Commerce, State Bank of India, Punjab National Bank, ICICI Bank, SIDBI etc.
Some of the measures that Badli Industrial Estate Association (BIEA) suggested for the bankers during the meeting was to address issues such as – increasing direct interaction with the MSMEs; making MSMEs a part of the policy making; opening MSME specific bank branches in all industrial areas etc.