Dun & Bradstreet India and State Bank of India (SBI) organised a ‘Financial literacy’ workshop that focused on the financial needs of MSMEs here on Friday, in which BSE IPF was the exchange partner.
Entrepreneurs, managers, proprietors, directors in micro and small enterprises, non-finance and finance executives took part in the symposium, also attended by over 40 MSME representatives. The workshop touched upon key MSME issues such as, policy and regulatory frameworks, schemes of Central and State Governments for promoting MSMEs, financing options and modes, banks and FIs requirements, forms of organisational structure, benefits of registration, etc. The one-day workshop also got inputs including peculiar financing requirements and suggestions on improving credit flow to MSMEs.
Preeta Misra, Director, learning Solutions, D&B India, said that the financing schemes for MSMEs are of utmost importance and it is now well accepted that MSMEs are stepping stones of entrepreneurship development, innovation and risk taking behaviour and provide the foundation for long-term growth, especially in developing countries such as India.
MSMEs provide employment to around 69 million people, through 26 million units. Moreover, MSMEs account for around 45 percent of the country’s manufacturing output. “In recognition of this contribution, D&B Bradstreet learning Solutions is pleased to be associated with the stalwarts of the industry to serve the specific needs of the MSME community with innovative, high quality, comprehensive training and education programmes,” Misra said.
Speaking at the workshop, SBI spokesperson said, “SBI is a pioneer in SME financing in India. The bank has developed a wide array of products and services in order to cater to the evolving needs of the SME sector and has adopted cluster approach as a strategy to improve the credit flow to SME sector through industrial and artisan clusters across the country.” Sushil Kumar Agrawal, AGM Training, learning Centre, SBI, here also interacted with the participants in the workshop.