RBI organises awareness programme on MSME Schemes for young entrepreneurs

GANGTOK, 05 Dec: Reserve Bank of India (RBI), Gangtok Office organised a sensitisation cum awareness programme on Micro, Small and Medium Enterprises (MSMEs) Schemes for the young entrepreneurs of Sikkim on 02 Dec at the Zilla Panchayat Bhawan, Gangtok.

The programme was Chaired by Special Secretary, Commerce & Industries Department, PT Euthenpa and attended by many prospective entrepreneurs to derive benefit from the various agencies which were present at the venue, informs a press release.
Speaking on the occasion Mr Euthenpa urged the prospective entrepreneurs to carry out market research before starting any economic activity and assured full assistance from his Department to the participants. He also motivated them to take up those ventures which were viable and sustainable.
Appreciating the initiative of the RBI he expressed confidence that the youth of Sikkim will definitely benefit from such awareness programmes and urged RBI to conduct such awareness programmes in all the districts of the State, the release mentions.
The programme was also addressed by AGM, RBI, Gangtok, Anil Kumar Yadav, who informed the participants about the RBI guidelines towards extending finance in starting MSME units. He also said that since MSMEs are the backbone of the Indian economy, they deserve full support and assistance from Government Departments and finance from banks & Financial Institutions (FIs) as a priority sector.
He further added that MSMEs are facing problems due to non-availability of adequate and timely finance from the banking sector for enhancement of business activities, modernisation, expansion, diversification, joint ventures and international collaborations as well as to buy or import quality raw materials, latest machinery and equipments for production of quality products.
He also said that many of them do not have sufficient information, contacts and awareness about how to obtain bank finance and other financial products and support available from Government and Financial Institutions.
According to the release, it was an opportunity for prospective entrepreneurs to know more about various financial facilities for enhancement of business activities, export promotion, technology upgradation and expansion under MSMEs. The programme also highlighted the formalities involved in preparing business plans, project reports and financial documents and performance results to obtain more financial support.
Representatives from NeDFI, SIDBI, MSME-DI, DIC, banks and other agencies involved in MSME activities also attended the programme. An open house session was also organised to clear doubts on many aspects of starting new economic ventures, the release adds.