MSMES are a key generator of jobs
The manufacturing sector including the infrastructure and services sector is a key generator of jobs. The Micro, Small and Medium Enterprises (MSME) cover a large number of employees and need a push, said Ashok Reddy, Chairman, Karnataka Vikas Grameena Bank (KVGB) while inaugurating a meeting involving MSME entrepreneurs, organised by KVGB at Dharwad. The bank wants to be an important player in the growth story of the region, especially in North Karnataka.
“The bank is
working on development initiatives for the benefit of MSMEs. Credit
disbursement to MSME rose from Rs 404.69 crore last year to Rs 617.61
crore as on March 31, 2014, recording a growth of 52.61 per cent. The
bank hopes to improve upon last year’s achievement with a handsome
margin,” said Reddy, as reported by Business Standard.
Influencing new and youth
entrepreneurs in his lines, he welcomed budding entrepreneurs to come
with a dream and announced that the bank will not refuse credit to
viable and transparent enterprises. He also promised that the bank
will also take steps to provide necessary training through Rudsetis
Station director of All
India Radio Channamallikarjuna Bellakki said, the MSME sector is the
best vehicle for inclusive growth, to create local demand and
consumption, and also fight global competition. He also suggested
that banks should do their own assessment before advancing loans
without depending on the credit rating agencies.
Although the government
and banking industry have taken significant steps to boost the MSME
sector, there is a huge reluctance and low awareness among
enterprises to take advantages, General Manager Suryakant Ganga
KVGB is promised to
cater diversified needs of MSMEs, analyse their problems, help them
face challenges and solve their issues and MSMEs should use these
facilities at the best, he added.