Patna: The Reserve Bank of India (RBI) in Patna has organised a workshop aimed at improving access to credit for micro, small and medium enterprises (MSMEs), in a move expected to ease borrowing challenges for small businesses in Bihar.
The “refresher workshop”, held at Hotel Maurya in the state capital, brought together officials from 14 major banks to focus on strengthening their approach towards MSME financing.
Addressing the event, Sujit Kumar Arvind, regional director of RBI Patna, described the MSME sector as the backbone of the state’s economy, highlighting its role in generating employment and promoting entrepreneurship.
He emphasised the need for banks to adopt a more responsive and sensitive approach while dealing with small businesses, particularly in ensuring timely disbursal of loans.
Officials noted that delays in credit delivery often push entrepreneurs towards informal lending sources, where interest rates are significantly higher.
The workshop included technical sessions on updated regulations, policies and practical aspects of MSME lending. Discussions focused on improving communication with customers, simplifying loan procedures, enhancing appraisal systems and addressing the needs of financially stressed enterprises through restructuring mechanisms.
Experts said the initiative is likely to benefit entrepreneurs by making loan processes more transparent and efficient. Bankers who attended the session also described it as useful in helping them better understand challenges faced by small businesses at the grassroots level.
The move is part of broader efforts to strengthen institutional support for MSMEs, which are seen as key drivers of economic growth and job creation in the state.
