RBI forms expert committee to rejuvenate MSMEs

Note4students

Mains Paper 3: Economy | Changes in industrial policy & their effects on industrial growth

From the UPSC perspective, the following things are important:

Prelims level: Not Much

Mains level: Measures for revitalizing MSMEs


News

About the Committee

  1. The RBI has constituted an expert committee, which will review the current institutional framework in place to support MSMEs along with examining the factors affecting timely and adequate availability of finance to them.
  2. The new 8-member committee would be chaired by former Securities and Exchange Board of India chairman UK Sinha.

Terms of Reference

  1. The new committee will review the current institutional framework in place to support the MSME along with examining the factors affecting the timely and adequate availability of finance to the sector.
  2. The committee will also study the impact of the recent economic reforms on the sector and identify the structural problems affecting its growth.
  3. It will conduct a study about the best global practices with respect to MSMEs and recommend its adoption in India, wherever appropriate..
  4. Furthermore, the committee would also review the existing MSME focused policies and its impact on the sector and to propose measures for leveraging technology in accelerating the growth of the sector.

Compliment this newscard with:

[op-ed snap] Going beyond the credit requirements of MSMEs

Industrial Sector Updates – Industrial Policy, Ease of Doing Business, etc.
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