RBI sets up eight-member panel under former SEBI chairman UK Sinha to study current framework for MSME sector

Mumbai: The Reserve Bank on India (RBI) on Tuesday set up an eight-member expert committee under the leadership of the former chairman of SEBI UK Sinha to review the current framework for the MSME sector. The committee will suggest long-term solutions for the economic and financial sustainability of the micro, small and medium enterprises, RBI said in a statement, adding the panel will submit the report by the end of June.

The central bank said the committee will study the impact of the recent economic reforms on the sector and identify the structural problems affecting its growth. “The committee will examine the factors affecting the timely and adequate availability of finance to the MSME sector,” the RBI said. The other members include development commissioner for MSME Ram Mohan Mishra; joint secretary at the department of financial services Pankaj Jain; SBI managing director PK Gupta; ICICI Bank executive director Anup Bagchi; IIM-Ahmedabad professor Abhiman Das; Ispirit Foundation founder Sharad Sharma and Dvara Trust chairperson Bindu Ananth. The committee will review the existing MSME focused policies and their impact and will propose measures for leveraging technology in accelerating the growth of the sector apart from recommending the global best practices. The central bank had announced setting up this expert committee at the December 2018 monetary policy announcement.