Mumbai, Apr 5 (KNN) A move that would bring financial inclusion in the MSME sector, RBI Governor Raghuram Rajan today announced that by September this year RBI will lay down a framework for accreditation of credit counsellors who can assist MSMEs access loan easily.

“The Reserve Bank will lay down a framework by September 2016 for accreditation of credit counsellors who can act as facilitators for entrepreneurs to access the formal financial system with greater ease and flexibility,” Rajan said this in the First Bi-Monthly Monetary Policy 2016-17 statement.

The statement said, “Credit counsellors will also assist MSMEs in preparing project reports in a professional manner which would, in turn, help banks make more informed credit decisions.”

The announcement with this regard was made under Developmental and Regulatory Policies 17. This part of the Statement reviews the progress on various developmental and regulatory policy measures announced by the Reserve Bank in recent policy statements and also sets out new measures to be taken for further refining the liquidity management framework; strengthening the banking structure; broadening and deepening financial markets and extending the reach of financial services to all. (KNN Bureau)