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RBI sets up a committee to review the current framework for the MSME sector

Last Updated: June 19, 2019

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RBI sets up a committee to review the current framework for the MSME sector

RBI sets up a committee to review the current framework for the MSME sector

19 June 2019 Current Affairs: The Reserve Bank of India had set up an eight-member expert committee under the leadership of former chairman of SEBI, UK Sinha on 18 June 2019. The aim is to review the current framework for the MSME sector. 

Members of the committee:
1)Head: UK Sinha, former chairman of SEBI
Other members:
2)Ram Mohan Mishra, development commissioner for MSME
3)Pankaj Jain, Joint secretary at the department of financial services 
4)PK Gupta, SBI managing director 
5)Anup Bagchi, ICICI Bank executive director 
6)Professor Abhiman Das, IIM- Ahmedabad 
7)Sharad Sharma, Ispirit Foundation founder 
8)Bindu Ananth, Dvara Trust chairperson 

Purpose of the committee:
The expert committee was set up to:
♦ suggest a long-term solutions for the economic and financial sustainability of the micro, small and medium enterprises
♦ to study the impact of the recent economic reforms on the sector 
♦ to identify the structural problems affecting its growth
♦ to submit the report analysis by the end of June
Upon reviewing the existing MSME focused policies and their impact, the committee will propose measures for leveraging technology in accelerating growth of the sector apart from recommending the global best practices.
The setting up the expert committee was announced by RBI at the December 2018 monetary policy announcement.
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