Mumbai, Feb. 17 -- Reserve Bank of India Governor Sanjay Malhotra on Monday held discussions in Mumbai with representatives of select micro, small and medium enterprises (MSMEs) and industry bodies as part of the central bank's continuing stakeholder outreach efforts.

In his address, the Governor emphasised the critical role of the MSME sector in India's economy, noting its significant contribution to GDP, exports and job creation. He stated that expanding timely and adequate access to formal credit for MSMEs continues to be a key priority for the central bank.

Malhotra detailed the policy and regulatory initiatives introduced by the Government of India and the RBI to strengthen the sector. He urged MSMEs to deepen formalisation, uphold...