Improving access to timely, adequate formal credit for MSMEs remains a key policy priority: RBI Governor

He also outlined several policy and regulatory measures undertaken for the sector by the Government of India and the Reserve Bank at a meeting with select MSME representatives in Mumbai on Monday (February 16).

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He encouraged MSMEs to pursue formalisation, maintain credit discipline and adopt digital payments to build their long-term resilience and competitiveness, the RBI said.

During the interactive session, the participants shared their feedback and suggestions on policy issues and operational challenges related to credit flow to the MSME sector.

Along with representatives of MSME associations, Deputy Governors T. Rabi Sankar, Swaminathan J. and S.C. Murmu, and other senior officers of the RBI, also attended the meeting.