PHD Chamber of Commerce organized Seminar on Financing MSMEs

RBI panel suggests 5,000 crores stressed Assets fund for MSMEs

Amritsar, 27 June  (Punjab Post Bureau) – Addressing a Seminar on  Financing MSMEs – Growth Engines of Indian Economy organised by PHD Chamber of Commerce and Industry in association with Konrad-Adenauer-Stiftung(KAS), Germany here today at Amritsar, Mr. Anil Yadav, GM, Reserve Bank of India (RBI) said to support MSMEs, an RBI panel has recommended establishing 5,000 crore distressed assets fund, setting up a non-profit special purpose vehicle for crowd funding and doubling the limit for banks to extend loans upto 20 lacs without Collatoral security.

            While welcoming the participants, Shri Jaideep Singh,Convener- Amritsar, PHD Chamber of Commerce & Industry said that in the face of emerging challenges and the need to strengthen global outreach it has become imperative for the MSME sector to demonstrate greater competitiveness and position themselves strategically along the value chain.

            Mr. Major Singh, Director, MSME- Development Institute, Ludhiana apprised industry members of the various Fiscal incentives and support by the Ministry of Micro, Small and Medium Enterprises.

            Mr. A K Verma, Branch Manager, NSIC Amritsar mentioned marketing is very important factor for MSMEs and informed MSMEs regarding participation in both domestic and international exhibitions for promoting business prospects.

            Mr. Vivek Abbi, Cluster Head- Amritsar I, HDFC Bank shared information on policy guidelines for servicing and lending to MSMES. All the bank’s branches are networked to provide Anywhere banking services, further supported by alternate channels like ATMs, internet banking and phone banking, etc. The banks aim to provide end to end support for all the business requirements of MSMEs.

            Mr. Balvinder Pal Singh, GM DIC, Amritsar present on the occasion addressed the issues and queries of the industry members.

            Department of Industries & Commerce, Government of Punjab facilitated by Mr. Vishaw Bandu, Deputy Director, Policy Implementation unit made detailed presentation on Industrial Business Policy- 2017 and operational guidelines; ease of doing business; ZED scheme; Punjab Skill Development mission’ Ghar Ghar Rozgar yojna scheme and Business First Portal.

             Eminent speakers Mr. Munish Dhawan, Director-SME,Care Ratings Ltd., New Delhi, Mr. Ravi Mitra, Regional Head, Business Development-North; A.TREDS Ltd.;Mr. Ashutosh Aggarwal, Project Associate, Quality Council of India, Chandigarh apprised MSMEs on various schemes provided by their respective organizations.

            The programme ended with vote of thanks by Mr. Jasdeep Singh Makkar, EO, PHD Chamber.

                        More than 150 industry members from Textile Manufacturers Associations; Amritsar Computer Traders Association; Focal Point Industrial Welfare Association; Shawl Club and MSMEs from in and around Amritsar, Tarn Taran, Batala Sahib and Goindwal attended and benefited from the programme.