Athena – Economics and Public Policy SIG of IIM Nagpur, was honoured to host the guest Vineeta Hariharan, the Chief of Programmes, Externally aided mission, MSME, GoI.
In the interaction with students of IIM Nagpur, Ms. Hariharan started the discussion with the shift of focus on digitalization of MSME related operations with the onset of the UAM portal being one of the stepping stones. The discussion then shifted gears to MSME’s low access to credit being one of the biggest issues faced by this sector. Talking about various steps taken from Government to alleviate this issue, she emphasized on the introduction of PMEGP (Prime Minister Employment Generation Programme) using which MSMEs can get credit-linked subsidy loans. Also, the role of cooperative banks has increased in terms of loan disbursement.
Then she explained how the private sector has evolved to help the credit situation of MSMEs with the introduction of TReDS (Trade Receivables Discounting System) which acts as a unified platform for buyers, sellers, and financiers, thus providing easy access to funds at discounted rates.
With the offset of the Q&A session, we concluded the 2nd session under the PRAJNA series.