FISME to represent MSMEs in RBI's Industrial Monitoring Group
Updated: Oct 05, 2015 12:18:26pm
Mumbai, Oct 5 (KNN) Apex industry body for the micro, small and medium enterprises (MSMEs), FISME, will now represent the sector in the Industrial Monitoring Group constituted by the RBI.
The Reserve Bank of India (RBI) had constituted the IMG in the year 2009 in order to periodically assess the developments in Indian Industry against the backdrop of domestic and global developments.
RBI contacts the members of IMG on a regular basis to collect the members’ feedback and expectations on monetary policy and various other issues pertaining to industry.
The Federation of Indian Micro and Small & Medium Enterprises (FISME), a federation of over 700 MSME associations, will be represented by V K Agarwal, Past President and Chairman Policy Committee, FISME.
RBI is now planning to make the Group more broad-based and representative, by expanding the membership of IMG.
RBI, in a letter to FISME, said, “In view of your organization’s expertise in micro, small and medium enterprises, we would like to have representation of your organization in IMG.”
The representative will be required to provide assessment on the conditions of the MSMEs periodically and offer feedback and expectations on monetary policy which would be useful inputs for monetary policy formulation, RBI had said.
The Group had its first meeting on April 15, 2009, to discuss the pressure points faced by the
industry and the likely course of revival of the same from the stand point of requirements for formulation of monetary policy.
The Group, in its second meeting on July 16, 2009 had reassessed the state of the industries as well as prospects. (KNN Bureau)
The Reserve Bank of India (RBI) had constituted the IMG in the year 2009 in order to periodically assess the developments in Indian Industry against the backdrop of domestic and global developments.
RBI contacts the members of IMG on a regular basis to collect the members’ feedback and expectations on monetary policy and various other issues pertaining to industry.
The Federation of Indian Micro and Small & Medium Enterprises (FISME), a federation of over 700 MSME associations, will be represented by V K Agarwal, Past President and Chairman Policy Committee, FISME.
RBI is now planning to make the Group more broad-based and representative, by expanding the membership of IMG.
RBI, in a letter to FISME, said, “In view of your organization’s expertise in micro, small and medium enterprises, we would like to have representation of your organization in IMG.”
The representative will be required to provide assessment on the conditions of the MSMEs periodically and offer feedback and expectations on monetary policy which would be useful inputs for monetary policy formulation, RBI had said.
The Group had its first meeting on April 15, 2009, to discuss the pressure points faced by the
industry and the likely course of revival of the same from the stand point of requirements for formulation of monetary policy.
The Group, in its second meeting on July 16, 2009 had reassessed the state of the industries as well as prospects. (KNN Bureau)
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