Rahul Sahai of PHDCCI Jammu pushes for MSME funding

Rahul Sahai, Chairperson of PHDCCI Jammu, participated in the Reserve Bank of India’s (RBI) Town Hall meeting focused on addressing the funding challenges faced by Micro, Small, and Medium Enterprises (MSMEs). The event, held at ITC Welcome Hotel in Katra, saw the active involvement of Sahai, along with Ashish Jain and Raj Dua, Co-Chairs of PHDCCI Jammu Chapter.

The meeting, organized by RBI, primarily delved into the financing hurdles encountered by MSMEs. Comprehensive presentations on the Treds (Trade Receivables Discounting System) and SIDBI’s schemes were delivered by the respective heads of these financial agencies Rahul Sahai, in his deliberations, highlighted the need for increased participation of buyers on the Treds platform, emphasizing its potential to benefit MSMEs registered with Udyam. Sahai underscored Treds as an effective avenue for MSMEs to leverage bill discounting, resolving issues related to the blocking of funds.

Addressing senior officers from RBI J&K and Ladakh, Sahai emphasized the importance of enhancing risk-taking capacity at the managerial level across all bank branches. He urged for expedited resolution of MSME funding cases, stressing the significance of a time-bound approach in bolstering financial support to MSMEs.

Sahai also commended the upcoming opportunities in the lithium-based industry in District Reasi. In the presence of officials from the industry department, including Arun Manhas, Director Industries Jammu, and G Velladurai, MSME DFO Jammu, Sahai urged the industry and MSME departments to encourage and support local businesses in exploring opportunities related to lithium products.

Following Rahul Sahai’s address, Kamal Patnaik, Regional Director Reserve Bank of India Jammu Kashmir, and Ladakh, invited representatives from various banks, notably PNB and SBI, to respond to the issues raised by PHDCCI Jammu Chapter. The bank officials assured the audience that they are actively working on enhancing risk-taking capacities, closely monitoring accounts, and guiding lower-level staff to expedite case resolutions in a time-bound manner.

The Town Hall meeting witnessed the participation of over 100 MSME representatives from Reasi district, along with senior officials, including Sandeep Mittal (GM RBI), Arun Kumar Manas (Director Industry Jammu), G Velladurai (MSME DFO Jammu), Anil Sharma (DGM SIDBI), Ravindra Kumar Gupta (DGM SBI), and DGMs from PNB. The collaborative efforts of stakeholders aim to pave the way for a more robust and responsive financial ecosystem for MSMEs in the region.