RBI constitutes committee to look into issues of MSMEs

Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday said to have formed a committee, which would look into the issues related to Micro, Small and Medium Enterprises (MSMEs).

"We have constituted a committee to look into the issues related to Micro, Small and Medium Enterprises (MSMEs). We are looking at what kind of governance reforms can be brought about in the functioning of the banks," the RBI Governor told the media persons here.

He said that he would meet the representatives of Non-Banking Financial Company (NBFC) in Mumbai on Tuesday for discussing the liquidity issues.

"I will meet Non-Banking Financial Company (NBFC) representatives in Mumbai tomorrow. We will discuss the liquidity issue of NBFCs. Liquidity conditions are being monitored constantly," he said.

Urjit Patel, the 24th RBI Governor, stepped down abruptly in December last year, weeks after differences between the Central bank and the government came out in the public.

Das, a member of the 15th Finance Commission and former Economic Affairs Secretary, was appointed RBI Governor, a day after Patel quit. Das will have the tenure of three years.