Tamil Nadu - Chennai   

Incentive sought for rural-based firms

CHENNAI: Banks should help genuine micro, small and medium enterprises (MSMEs) whenever the latter approached them for financial assistance without any collateral. Besides, the State government should offer incentive to rural-based industries, said CavinKare chairman and managing director C.K. Ranganathan here on Thursday.

Addressing members of the Indo-American Chamber of Commerce, Tamil Nadu Branch, on ‘the road to success’ topic, Mr. Ranganathan said they also struggled for three years to get the first bank loan as they did not have any collateral to offer. But the company was paying taxes every year. This helped the company to a great extent.

Mr. Ranganathan, who is also the chairman of the Confederation of Indian Industry Tamil Nadu State Council, said “businessmen should operate within the legal framework. Businessmen do not need deep pockets to take on multinational companies.”

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Learning to empathise with the physically challenged
A star-studded fete
Stella Maris gets Rs.25 lakh to enhance facilities
Eye camp
Private bank ordered to pay compensation
“Alcohol consumption rate growing at 8 per cent every year”
Incentive sought for rural-based firms
PMK retains Velu, M.Ramadass
A roadshow of visually challenged people’s navigation skill
University’s scholarship scheme
There is more to fashion than meets the eye
Air is thick with more fitness awareness
Lifestyle changes: are they for better?
5 youths arrested for chain-snatching incidents
Minor fire atop internet cafe at Central station
Car fatally knocks two-wheeler rider into pit
Street children, street play and train of thought
Airport radar shut down
Two men electrocuted
Campaign launched to protect Virugambakkam canal
“Need to attract talents to teaching profession”
Rajasthanis’ contribution to society hailed
Download a ringtone to support a special child
In Chennai Today

Copyright © 2009, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu