28th Meeting of the Standing Advisory Committee to Review the Flow of Credit to MSMEs under the Chairmanship of Shri Swaminathan J, Deputy Governor, Reserve Bank of India

Summary:

The 28th Meeting of the Standing Advisory Committee (SAC) to review the credit flow to Micro, Small and Medium Enterprises (MSME) sector was held on September 29, 2023, in Lucknow. The meeting was chaired by Shri Swaminathan J, Deputy Governor, Reserve Bank of India. The Deputy Governor emphasized the significance of MSMEs in achieving the goal of a developed economy by 2047 and stressed the need for collaborative efforts to unlock the sector's potential. The SAC reviewed the credit flow to MSMEs and discussed various initiatives, including the Account Aggregator framework, digital Public Tech Platform, regulatory sandbox on MSME lending, and the role of Industry Associations in information dissemination and capacity building among MSMEs.