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| Virtual interactive awareness session on schemes of SIDBI, credit rating held | | |  Early Times Report
Jammu, Jun 1: PHDCCI J&K in association with J&K SIDCO organized a virtual interactive awareness session on schemes of SIDBI, credit rating and alternative source of raising finance for MSMEs of J&K
Chief Guest Ranjan Prakash Thakur IRTS, Principal Secretary Industries and Commerce J&K mentioned that the industries department has made structures ready for all the policy matters for Central Incentive Scheme, Land Allotment policy, industrial development scheme of the UT, rules and guidelines, Single Window clearances, all these things have been positioned and essentially the framework for moving ahead is ready and available but the Covid Situation has slowed down the whole process but it will not hold us back.
Thakur further said that SIDBI has an important role to play in the entire system as most of the MSME`s in Kashmir and part of them in Jammu need substantial support. Senior Vice President PHDCCI Pradeep Multani stated that J&K has proven capacity in overcoming many business challenges and winning the market if they are properly supported by the government and a conducive atmosphere required for it.
Anil Khaitan former president & mentor of MSME Mentoring & Guidance Centre, PHDCCI mentioned about the alternate source of funding like Fintechs - digital lending Fintechs platforms have the potential to significantly bridge the funding gap and are able to change the way the MSME sector accesses credit. Rahul Sahai, Chairman PHDCCI Jammu took questionnaires from the audiences to the elite panel of experts of the session and while highlighting the role of SIDBI he mentioned that SIDBI - Refinance and supports small scale industries, Funds support to MSME sector, discounts bills of these industries, offers financial services of hire and purchase, factoring and leasing services, promotes employment, assists exports and provides loan to women and underprivileged people.
Baldev Singh Raina chairman PHDCCI Kashmir stated that this would serve a platform for devising ways to foster the growth of Start-ups and Entrepreneurship in the UT. The webinar also aimed to disseminate and discuss the various Schemes and facilities introduced by the Government as well as by SIDBI and NBFC`s.
Mohammad Haroon (KAS) Managing Director J&K SIDCO extend special thanks to PHDCCI-J&K for organizing this awareness webinar for the entrepreneurs of J&K and he further added that It is my sincere hope that we shall be seeing more of these kinds of awareness workshops in the future.
Rahul Priyadarshi, General Manager (SIDBI) Chandigarh, presented an overview of SIDBI and he explained in detailed the key products of SIDBI like AROG/ SHWAS/ SPEED/PRATHAM/DC`s / Working Capital. He further told the audience that SIDBI has entered into an MoU with PHD Chamber of Commerce & Industries to provide financial assistance to its members through which the Chamber would recommend its MSMEs seeking financial assistance to SIDBI with a pre-designed Recommendation Sheet for Term Loans upto Rs. 5 crore can be covered under the arrangement at a nominal Upfront fee of 0.25% and assistance for both Term loans and Working Capital facility.
Nazim Khan (KAS) Director Industries Kashmir, gave a detailed presentation on role and function of Industries department in Kashmir and he highlighted the role of industries and commerce department as enablers for various government schemes and he mentioned the various components of New Industrial Development Scheme and PMEGP and he told that the decision has been taken to shift Soft Loan component shifting to bank.
Anoo Malhotra (KAS) Director Industries Jammu gave a detailed presentation on role and function of Industries department in Jammu and she thanked PHDCCI J&K for organizing the webinar in association with JKSIDCO. She stated that the SIDBI is an important nerve modern organized society and will definitely play an important role in the transformation of MSME`s with customized schemes for the enterprises. |
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