IIE Guwahati And RBI Host Workshop To Focused On Credit Access For MSME Clusters
Date
7/27/2024 2:26:56 PM
(MENAFN- KNN India)
Guwahati, Jul 27 (KNN)
The Indian Institute of Entrepreneurship (IIE), in collaboration with the financial Inclusion and Development Department (FIDD) of the Reserve bank of India (RBI), recently conducted a workshop focused on "Formal Credit Linkages for SFURTI Clusters under MSME, government of India for Cluster Strengthening" at its campus.
Key officials in attendance included Dr. Lalit Sharma, Director of IIE; Aloka Ranjan Ranarahu, Deputy General Manager (DGM) of RBI; and Ashwin Kulkarni, DGM of State Bank of India (SBI). The event also saw participation from IIE faculty and officials.
In his address, Dr. Sharma highlighted the need for tailored banking schemes to bridge the gap in seed capital requirements for clusters developed under IIE.
He emphasised the importance of easy financing options with low interest rates and extended gestation periods.
DGM Ranarahu from RBI provided insights into the central bank's guidelines for MSME financing.
He stressed the availability of collateral-free finance up to 50 lakh rupees for MSMEs and clusters, with potential extensions up to 5 crore rupees under the Credit Guarantee Trust for Micro and Small Enterprises (CGT MSE) scheme.
Representing SBI and serving as the Convener of the State Level Bankers' Committee (SLBC) for Assam, DGM Kulkarni advocated for a holistic approach to cluster financing.
He encouraged banks to adopt clusters and provide comprehensive support, including financial literacy programs for artisans and cluster member collectives.
The workshop featured a technical session followed by an interactive segment, where participants discussed challenges related to formal credit linkages for clusters.
As a concrete outcome, five clusters under IIE's purview as a Nodal Agency were selected for credit adoption by participating banks.
This initiative aligns with ongoing efforts to strengthen the Micro, Small, and Medium Enterprises (MSME) sector and promote financial inclusion in India's entrepreneurial landscape.
(KNN Bureau)
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