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    <title>Welcome to India: State of the Indian economy, banking sector and factoring services (Opening Address by Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India at International Factors Group’s Annual Conference on October 7, 2013 in New Delhi)</title>
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    <description>The address outlines India&#039;s macroeconomic challenges and reform priorities, the multi tiered banking structure with public sector predominance and RBI proposals to expand and diversify banking licences, and MSME financing constraints addressed through collateral free lending, outreach roadmaps, rehabilitation guidelines and equity access initiatives. It explains factoring as a liquidity and services solution for SMEs, summarises the Factoring Act and RBI&#039;s NBFC Factor regulation, and notes remaining needs for credit insurance, SARFAESI extension to NBFCs, greater market penetration and industry capacity building.</description>
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