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‘Banks should also guide MSMEs'

Special Correspondent

HYDERABAD: The need for more banks to extend hand-holding guidance besides finance to Micro, Small and Medium Enterprises was emphasised at a seminar organised by the Federation of Andhra Pradesh Chambers of Commerce and Industry here on Saturday.

The meeting was organised in connection with the India Corporate Week celebrations under the aegis of the Ministry of Corporate Affairs.

Mr. P. D.Sudhakar, Special Secretary, Ministry of Corporate Affairs who was the chief guest said that the Ministry was focusing on partnership and mutual trust among all stake holders- RBI, banks, industry, MSMEs and government.

He later released a book ‘Industrial development of Andhra Pradesh 1956-2010- Past, Present and Future' edited by veteran journalist Hanumantha Rao.

Ms. Renu Challu, Managing Director, SBH said their bank worked closely and guided the small and medium enterprises in building commercially viable businesses. R.Ramachandran, CMD, Andhra Bank said banks should initially spend time with the small and medium units till they understood basic principles of business.

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