RBI tells MSMEs to pursue formalisation

MUMBAI: RBI governor Sanjay Malhotra on Monday urged micro, small and medium enterprises (MSMEs) to formalise operations and assured them of timely and adequate access to credit, calling improved credit flow to the sector a key policy priority for Reserve Bank of India. At an interaction with MSMEs and industry associations, the governor highlighted the sector's contribution to GDP, exports and employment, and outlined policy and regulatory steps taken by the central bank and govt to support it. He encouraged enterprises to strengthen credit discipline and adopt digital payments to enhance resilience and competitiveness.