What is the full name of the VSTEM programme organised by RBI Nagpur?

Vidarbha Specific Training for Empowering MSMEs — VSTEM stands for Vidarbha Specific Training for Empowering MSMEs, as stated in the event details.

On which date is International MSME Day observed every year?

27 June — The United Nations designated 27 June as International MSME Day to recognise the role of small businesses in sustainable development.

Which edition of the VSTEM series was the Bhandara workshop?

Fifth — The Bhandara workshop was the fifth in the VSTEM series, following earlier editions in Gadchiroli, Nagpur, Yavatmal, and Wardha.

Approximately how many entrepreneurs participated in the Bhandara VSTEM workshop?

Over 180 — The workshop drew enthusiastic participation from over 180 aspiring and existing entrepreneurs from Bhandara district.

What does the CGTMSE scheme specifically do for small businesses?

It acts as a guarantor so businesses without assets can get bank credit — CGTMSE is a government-backed scheme where the trust acts as a guarantor, enabling small businesses that lack collateral to access bank loans.

Which of the following was NOT among the government schemes explained at the Bhandara VSTEM workshop?

PM Kisan Samman Nidhi — PM Kisan Samman Nidhi is an agricultural income support scheme and was not mentioned among the topics covered at the workshop.

What is the Government e-Marketplace (GeM) portal?

An online marketplace where businesses can sell goods and services to government buyers — The GeM portal is an online platform where businesses, including MSMEs, can register and sell their products and services directly to government departments.

Which RBI department's Deputy General Manager attended the Bhandara workshop?

Financial Inclusion and Development Department (FIDD) — Anjana Shyamnath, Deputy General Manager of the Financial Inclusion and Development Department (FIDD) of RBI Nagpur, attended the workshop.

What is the primary purpose of Udyam Registration for a small business?

To formally register as an MSME and thereby access government schemes, subsidies, and easier bank loans — Udyam Registration is the official process to formally recognise a business as an MSME, which unlocks access to government schemes, subsidies, and formal credit benefits.

Which organisation, focused on rural and agricultural financial development, participated in the Bhandara VSTEM event?

NABARD — NABARD, the National Bank for Agriculture and Rural Development, participated in the Bhandara VSTEM workshop alongside RBI and other officials.

Economy27 Jun 2026· PIB

RBI Holds VSTEM Workshop in Bhandara to Boost Small Businesses on International MSME Day

Tap a highlighted term — or any word — for a quick explanation.

Every year on 27 June, the world observes International MSME Day — a date set by the United Nations to highlight how micro, small, and medium enterprises (MSMEs) are the backbone of economies everywhere. In India, MSMEs employ hundreds of millions of people and drive a large share of manufacturing and exports. To mark this occasion, the Reserve Bank of India (RBI), which is India's central bank and chief financial regulator, organised a special workshop in the Vidarbha region of Maharashtra.

On 25 June 2026, the RBI's Nagpur Regional Office held the fifth edition of its Vidarbha Specific Training for Empowering MSMEs, or VSTEM, programme at Bhandara, a district in eastern Maharashtra. The workshop brought together over 180 aspiring and existing entrepreneurs from the district, alongside government officials, bankers, and representatives of Self-Help Groups (SHGs) — informal community groups, often of women, who pool savings and support each other financially.

The VSTEM series was designed specifically to address the unique challenges faced by small business owners in Vidarbha, a largely agrarian sub-region of Maharashtra that has historically lagged behind in industrial development and access to formal banking. Rather than a one-size-fits-all approach, each edition of the workshop is tailored to the conditions and opportunities of a specific district. Earlier editions were held in Gadchiroli, Nagpur, Yavatmal, and Wardha.

The Bhandara workshop was themed 'Building Resilience through Skill Development, Market Access, and Prudent Financial Management.' Sessions covered a wide range of practical topics. Participants learned about Udyam Registration — the government's official process for formally registering an MSME, which unlocks access to many benefits and schemes. They were also walked through record-keeping practices that help businesses maintain proper accounts, a critical step for getting bank loans.

Several key government schemes were explained in detail. These included PMEGP (PM Employment Generation Programme), which gives subsidies to help people set up new businesses; CMEGP (Chief Minister's Employment Generation Programme), the state government's version of a similar scheme; MUDRA loans, which are small collateral-free loans offered through banks for micro and small businesses; CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises), a scheme where the government acts as a guarantor so that small businesses without assets can still get bank credit; and PM Vishwakarma, a scheme that supports traditional artisans and craftspeople. Participants also received guidance on digital tools like GST (Goods and Services Tax) registration and the Government e-Marketplace (GeM) portal — an online platform where businesses can sell goods and services directly to government departments.

Senior officials attended and addressed the gathering. Sachin Y. Shende, Regional Director of RBI Nagpur, emphasised the importance of bringing small businesses into the formal financial system — meaning registered, tax-paying, bank-account-holding enterprises rather than informal ones operating outside the regulated economy. Also present were Anjana Shyamnath, Deputy General Manager of the RBI's Financial Inclusion and Development Department (FIDD), and Arup Patra, Deputy General Manager of Bank of India. Officials from the District Industries Centre (DIC), Bhandara — a government body that promotes local industry — and NABARD (National Bank for Agriculture and Rural Development), which supports rural financial development, also participated. Banks set up stalls to promote their MSME lending products directly to entrepreneurs.

The event also featured product displays by local entrepreneurs and SHGs, giving small producers a platform to showcase what Bhandara district has to offer. The workshop concluded with interactive sessions where participants could ask questions and get practical guidance from experts.

The VSTEM series is a rolling programme with no fixed end date. Each future edition will target a new district in Vidarbha. The next location has not yet been announced by RBI Nagpur. Participants from this Bhandara session are expected to use what they learned — about loans, guarantees, registrations, and digital marketplaces — to grow their businesses and plug into the formal economy.

Why it matters

Vidarbha is one of Maharashtra's most economically stressed regions, known for agrarian distress and limited industrial activity. Many small businesses there operate informally, which shuts them out of bank loans, government subsidies, and export opportunities. Initiatives like VSTEM matter because they bring critical information directly to districts where entrepreneurs may not know what help is available or how to access it. By covering schemes like MUDRA, CGTMSE, and GeM in one place, and having banks set up stalls on the spot, the workshop lowers the barrier between struggling small businesses and the formal support systems designed to help them. Formalising MSMEs — getting them registered, credit-linked, and market-connected — is seen as one of the most reliable ways to generate local employment and spread economic growth beyond big cities.

Test yourself

1. What is the full name of the VSTEM programme organised by RBI Nagpur?
2. On which date is International MSME Day observed every year?
3. Which edition of the VSTEM series was the Bhandara workshop?
4. Approximately how many entrepreneurs participated in the Bhandara VSTEM workshop?
5. What does the CGTMSE scheme specifically do for small businesses?
6. Which of the following was NOT among the government schemes explained at the Bhandara VSTEM workshop?
7. What is the Government e-Marketplace (GeM) portal?
8. Which RBI department's Deputy General Manager attended the Bhandara workshop?
9. What is the primary purpose of Udyam Registration for a small business?
10. Which organisation, focused on rural and agricultural financial development, participated in the Bhandara VSTEM event?

Your notes

Source: PIB

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