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Corporation Bank launches national mSME excellence awards

Staff Correspondent

MANGALORE: The city based Corporation Bank had launched national mSME excellence awards — Corp Excel 2008 — to honour outstanding micro, small and medium enterprises in India.

A press release from A. Mohan Rao, General Manager, Corporation Bank, corporate office, here stated that the bank had launched this award in view of the good feedback received for the National SME award launched by it last year.

Mr. Rao said micro, small and medium entrepreneurs had been playing a pivotal role in India’s growth. They contributed to over 40 per cent of the industrial output and provide large employment opportunities in the country.

In view of this, the Union Government was focussing on mSME sector and had initiated several policy measures aimed at accelerating the growth of this sector. The bank’s current year business plan envisaged focussed attention on the mSME sector.

As on March 31, 2008, the bank’s mSME advances posted an annual growth of 25 per cent. It planned to double SME lending in just three years, Mr. Rao said. All mSMEs, whether customers of bank or not, were eligible to participate.

Besides, mid-corporates with annual turnover exceeding Rs. 100 crore were also eligible to participate. The mSME sector encompasses a wide variety of industrial units. The bank had short-listed 10 categories for instituting the awards.

There would be a separate award for micro enterprise and mid-corporate.

The selection of the short-listed SMEs would be done by a jury. The last date for receiving applications is June 7, 2008.

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