Tamil Nadu - Tiruchi   

“Small units vital for growth”

HOW LOANS ARE RATED: CRISIL Branch Manager Lodd Rajendra interacting with participants at the “Session on SME Finance” organised by the CII’s Tiruchi Zone.

TIRUCHI: With a view to providing a sustainable focus on the future growth and development of the SMEs (Small and Medium Enterprises) across Tamil Nadu, Confederation of Indian Industry’s Tiruchi zone organised a “Session on SME finance” here on Friday.

The session had as its backdrop the global recognition of SMEs as an important sector for growth and development, and the need for reviewing the development agenda in view of the changing scenario worldwide.

The objective of the meet was to create awareness amongst SMEs about finance schemes provided by leading banks for upgrade and setting up of new ventures.

It also provided an insight into the bank loan rating systems for the SME sector.

Setting the tone for the session, J Leo Ananth, zone vice-chairman, dwelt on the importance of the sector for the development of the economy.

He pointed out that the sector, backed by medium and large industries, would form a powerful engine for realising the objectives of accelerated industrial growth and creation of additional productive employment potential.

The CII, he said, strove to build competitive, inclusive, innovative and sustainable India with a clear focus on the tier II and III cities.

Constituting a major group in the industrial sector, SMEs account for more than 95 per cent of all industrial units, about 40 per cent of the output in manufacturing sector and 35 per cent of exports, thereby forming the vibrant and vital sector of the state economy, he said.

Anil Nair, Regional Head–South, HSBC Bank, made a presentation on SME factoring services offered by the Bank.

He explained the advantages and uniqueness of those services.

Lodd Rajendra, Branch Manager, CRISIL (Credit Rating Information Services of India Limited), made a presentation on bank loan rating systems.

He explained to the audience about the direct and indirect benefits accruing to the sector from the rating systems. Praveen Kumar, Manager – MSME, HSBC Bank, detailed on the various financial support provided by the bank to the MSME sector. Over 60 participants benefited from the interactive session.

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