Laghu Udyog Bharati, Karnataka organized a one day Zonal conference of Southern States on “Credit Flow to Micro and Small Enterprises on 7th July, 2016 in Bangalore.
Shri K S Sharma, President Laghu Udyog Bharati Karnataka delivered the Welcome speech.
Shri Arjun Ram Meghawal, Hon’ble minister of state for Finance and Corporate Affairs inaugurated the Zonal Conference of Southern States on “Credit flow to Micro and Small Enterprises organized by Laghu Udyog Bharati – Karnataka.
Hon’ble minister mentioned that he was very delighted to address his first event since being inducted into the Finance & Corporate Affairs Ministry. He also said that he knew the scenario of the Indian Micro and Small Enterprisess. And that would passionately work towards the growth and help in every way possible. He invited the entrepreneurs to straight away approach him and solve their issues. Shri Arjun Ram Meghwal assured the gathering to take forward the two major issues concerning the sector to the Centre. One was the NPA Norms. The other on submission of Online Application for availing credit facilities with Banks. He has asked the National President of Laghu Udyog Bharati to meet him in Delhi with a brief of issues concerning Micro & Small Enterprises.
Shri Om Prakash Mittal, National President Laghu Udyog Bharati presided over the function. Laghu Udyog Bharati is a bridge to the Government and Entrepreneurs. He mentioned that Youth of the country are having apprehensions about Finance , Labour and regulatory mechanisms in place at the moment.
Mr. Srikanta Dutta, Vice President of Laghu Udyog Bharati – Karnataka in his Key Note address put across the many challenges faced by the Micro and Small Enterprises sector in obtaining credit facilities. The Micro and Small Enterprises which is the back bone of economic development of the country. It is contributing nearly 45% of industrial output. Yet it is facing many challenges such as credit facilities, sourcing of funds, rate of interest, quantum of financing, etc. Additionally lack of knowledge on the various schemes and the hurdles faced in availing them and other Administrative challenges. He also spoke about the difficulty in getting payments from PSUs & Government Departments. At times it takes anywhere from 90 – 120 days. The entrepreneurs have to pay taxes such as Central Excise, Service Tax, VAT, PF & other statutory payments. Hence it leads to shortage of working capital. He also requested for more financial assistance & also ease of getting the same to Women entrepreneurs and encourage more participation from them.
Shri Anand Chandra Sahu, General Manager, SIDBI spoke on the importance of Micro and Small Enterprises. He mentioned that the sector significantly contributes to GDP of India. Mentionable also is the generation of employment opportunities in the country by Micro and Small Enterprises. He gave an overview of various initiatives such as Start Up India, Standup India, & other initiatives by Government. These initiatives are being implemented through SIDBI , NABARD & other institutions. He outlined the aim to reduce the gap, make finance affordable and accessible.
Shri Ravindra Bhandari, General Manager, Canara Bank complimented Laghu Udyog Bharati – Karnataka for organising the conference and welcomed the entrepreneurs to sort out issues . There is no dearth of finance and said banks are for the entrepreneurs. Canara Bank would like to associate with Laghu Udyog Bharati. The presence of GM of four Banks itself shows the support, they intend to provide to Micro and Small Enterprises.
Shri Jitendra Gupta, National General Secretary Laghu Udyog Bharati, Shri T Srinivasan, National Vice President Laghu Udyog Bharati were present and Shri Yagnanarayana M N , General Secretary Laghu Udyog Bharati – Karnataka proposed the vote of thanks at the inauguration of the Conference.
Laghu Udyog Bharathi team consisting of Immediate National Past President, Shri HVS Krishna, Shri Bhojaraj National Secretary, Shri B S Srinivasan Vice President, Laghu Udyog Bharati – Karnataka, Shri Manjunath Treasurer Laghu Udyog Bharati – Karnataka and Women entrepreneurs Cell team were present.
Officers from major financial institutions attended the event. Presidents of Industry Associations such as FKCCI, KASSIA, PIA were present during the conference.
The Conference was supported by SIDBI, Canara Bank, Syndicate Bank, Corporation Bank, Wadhwani Foundation and the MSME – DI & DICs of various districts. The conference was attended by nearly around 850 entrepreneurs. All of whom had come from southern states – Telangana, Andhra Pradesh, Tamil Nadu, Kerala and Karnataka.
There were two technical sessions in the afternoon –
1. Micro and Small Enterprises Financing – Medium & Long Term Lending: The various panellists who spoke during this session were
- Sh. Prabakar Rao, General Manager, Syndicate Bank,
- Sh. A C Sahu, General Manager, SIDBI,
- Sh. Rangaprasad, Director, MSME-DI,
- Sh. Brahmamand Hegde, Managing Director and CEO of Vistaar Financial Services Pvt Ltd.
2. Micro and Small Enterprises Financing – Working Capital & Bill Factoring: The various panellists who spoke during this session were
- Smt. Lalitha Rao, Ex-Banker,
- Sh. Kris Sridhar, Entrepreneur,
- Sh. Paramasivam, General Manager, Corporation Bank,
- Sh. Godwyn Crosse, Regional Head Karnataka – Business Banking, IDFC Bank,
- Sh. Tushar Garimala, Vice-President, Capital Float,
- Sh. K S Sridhar, Chartered Accountant.