For inclusive development it is necessary to develop medium and small industries, said chairman MCX Satyanand Mishra while speaking here at the sectoral seminar on ‘Credit flow to MSME’ at the Global Investors Summit. He said Micro Finance Institute (MFI) should be opened to develop micro and small industries.
Mishra said if the State government and bank encouraged credit flow then it would be more convenient for the industries to grow. He also stressed need for skill development.
CMD of Central Bank of India Rajiv Rishi said loan up to `10 lakh no collateral is needed. A loan of `8.52 lakh crore has been given to MSME in the country, he informed.
Rishi appreciated the vision of Chief Minister Shivraj Singh Chouhan to start venture fund of `100 crore. This will help MSMEs to prosper, he added.
President MSME Chamber, Chandrakant Salunkhe gave information related to the factors that influence MSME. He said that in industrial development MSME contributes 8 per cent. Salunkhe informed that banks are unaware of collateral free loan which obstructs the procedure of loan for MSME’s.
Director GC & PSRI Italy Albert Canperi informed about the loan procedure to small industries in Italy. He said that European Union also give loan to MSME’s in Italy.
Canperi said that India has a big market and micro, small and medium enterprises have vast opportunity.
MD, l&T Finance Dinanath Dubhashi gave information about his company. He informed about the difficulties faced by the entrepreneur to avail bank loan and non banking finance for MSME’s. Secretary, Finance Manish Rastogi apprised of the facilities being provided to micro, small and medium enterprises in the state. Experts also rectified the doubts asked by the entrepreneurs at the seminar. PNS