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Saturday, Mar 15, 2008
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Online edition of India's National Newspaper Saturday, Mar 15, 2008 ePaper | Mobile/PDA Version |
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Tamil Nadu
TIRUCHI: Bankers acknowledged their responsibility of fulfilling social obligations while expanding business by taking maximum advantage of the Micro, Small and Medium Enterprises Policy-2008 of the State Government, at a regional workshop on ‘Government Schemes for MSME Sector’ organised by the District Industries Centre (DIC) on Friday. They were hopeful that the new policy replete with attractive subsidies and concessions for promoting entrepreneurship would reflect in prompt repayment of loans, and, on their part, expressed commitment to provide the right guidance and mentoring for first-generation entrepreneurs to make the best use of the support systems. The policy, bankers felt, would also help them comply with the directive of the Reserve Bank of India (RBI) to bring about 20 per cent year-on-year growth in exposure to MSME sector, in view of the employment generation potential in it ranking top next only to agriculture. Economic progress of developed countries has accrued from the thrust they had accorded for development of agriculture and small scale industries, observed Renuka Mohan Rao, Chief Regional Manager, Indian Overseas Bank Regional Office, Tiruchi. Presiding over the workshop, she said that subsidies and concessions in the new policy lessen the risk factor substantially in lending. Inaugurating the workshop, S. Nagarajan, Deputy General Manager, Canara Bank Circle Office, Tiruchi, emphasised that bank officials ought to derive intrinsic satisfaction from promoting entrepreneurs and generating jobs for economic growth. Citing the substantive business development of Canara Bank in promoting entrepreneurship owing to the supportive role of Tiruchi District Tiny and Small Scale Industries Association (TIDITSSIA), he appealed to all other banks to take advantage of the association’s proactive role under its STED (Science and Technology Entrepreneurship Development) programme. Offering felicitations, S. Sridharan, TIDITSSIA president, said the new MSME policy augurs well with the necessity of banks, flush with funds, to meet lending targets. While the government could put support systems in place, bankers are the main stakeholders in industrial development, Mr. Sridharan said. In his special address, R. Ravi, Deputy General Manager, Indian Bank Circle Office, Tiruchi, detailed the economic growth indicators arising from robustness of small scale industries sector. R. Krishnan, Chief Manager, State Bank of India, Zonal Office, Tiruchi, saw in the readiness of nationalised banks to lend loans to entrepreneurs, based on their attitude and capacity to repay, a transformation caused by increasing competition from private and foreign banks. The responsibility of ensuring repayment vests with field officers, who, he stressed, must provide sustained guidance to entrepreneurs. Earlier, B. Baskaran, General Manager, DIC, explained the salient features of the MSME Policy 2008. C. Ramasamy Desai, Project Director, TIDITSSIA – STED, dwelt on the methods of smoothening the process of credit-linkage.
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