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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 and SIRDs.

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 stated.

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.

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