The opportunity offered by the present situation should be used to address global imbalances, to move towards more sustainable fiscal positions and to press ahead with structural reform. The recent agreement to continue the Doha trade round was a welcome step forward in our efforts to bringing the fruits of sustainable growth to all.
To specifically address the issue of delayed payments to the MSME sector, TReDS has been conceptualised as an authorised electronic platform to facilitate discounting of invoices/bills of exchange of MSMEs. On the other hand, as part of capacity building of MSME divisions in banks and to develop entrepreneurial sensitivity, RBI has recently launched targeted training programmes for the functionaries in commercial banks.