As part of the week-long activities being organised to commemorate International MSME Day, observed annually on June 27, the Reserve Bank of India (RBI), Shillong, conducted an Awareness Camp for MSME entrepreneurs at the State Convention Centre, Shillong, today. Around 150 existing and aspiring entrepreneurs from across Meghalaya participated in the programme.
The programme was inaugurated by Shri Olden Nongpluh, General Manager (Officer-in-Charge), RBI Shillong. Shri Moon Lander Wanshnong, Director, Department of Commerce and Industries, Government of Meghalaya, attended as the Chief Guest. Senior officials from the Directorate of Commerce & Industries Centre (DCIC), NABARD, SIDBI, MSME Development & Facilitation Office (MSME-DFO), Meghalaya Rural Bank, State Bank of India, HDFC Bank, Canara Bank and other stakeholder institutions were also present.
Welcoming the participants, the Deputy General Manager, RBI, highlighted the importance of creating greater awareness among entrepreneurs regarding the various financial and developmental support mechanisms available for the MSME sector. He outlined key RBI initiatives aimed at strengthening MSME financing, including Priority Sector Lending targets, Trade Receivables Discounting System (TReDS), Unified Lending Interface and measures promoting formalisation and timely credit access. He encouraged entrepreneurs to adopt digital payments, maintain credit discipline and embrace digital bookkeeping practices.
Addressing the gathering, Shri Olden Nongpluh underscored the critical role played by MSMEs in driving economic growth, generating employment and fostering entrepreneurship. Describing MSMEs as the “nurseries of entrepreneurship”, he urged young entrepreneurs to embrace innovation and contribute to Meghalaya’s economic development. He reiterated RBI’s commitment to facilitating structured access to formal credit through close coordination with the Ministry of MSME, State and Central Governments, financial institutions and regulators. He also highlighted recent initiatives such as enhancement of collateral-free loan limits up to ₹20 lakh, waiver of prepayment charges on eligible MSME loans and measures for expediting loan sanctions.
In his address, Shri Moon Lander Wanshnong highlighted the State Government’s efforts to promote entrepreneurship through incubation support, market linkages, skill development initiatives, facilitation centres and various support schemes for MSMEs. Emphasising the need for timely and affordable credit, he noted that MSMEs are key drivers of Meghalaya’s socio-economic transformation. He appreciated RBI’s initiative in bringing together stakeholders on a common platform to support the entrepreneurial ecosystem of the State.
The programme featured interactive sessions by officials from RBI, DCIC, MSME-DFO, SIDBI, NABARD and participating banks on RBI policy measures, Central and State Government schemes, banking products, eligibility criteria and institutional support available to MSMEs. Successful entrepreneurs also shared their experiences and insights on business planning, expansion and market linkages, inspiring aspiring entrepreneurs.
Participants appreciated the initiative and actively engaged in discussions during the sessions. The Awareness Camp reaffirmed the collective commitment of stakeholders towards strengthening the MSME ecosystem, promoting financial inclusion and encouraging entrepreneurship in Meghalaya.
