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CII Launches SME Finance Facilitation Centre in Rajasthan
Jun 25, 2016

The Micro, Small and Medium Enterprise (SME) sector is of critical importance in reviving growth. While the Government has taken several measures to promote MSME, access to credit remains a major issue which needs urgent attention. MSME, which constitute 70% of CII membership, are facing a lot of pain due to rising costs, lower demand and high cost towards accessing credit. There was a pressing need for setting up a support centre to ensure that MSME are provided with credit at cost effective rates, to meet their demand for working capital as well as for expansion and diversification.

Mr P K Jena, Chief General Manager, Reserve Bank of India, Jaipur launched the CII SME Finance Facilitation Centre at Jaipur by releasing its brochure in inaugural session. The CII SME Finance Facilitation Centre would provide advisory and credit facilitation support to SME. Mr Jena, during his address stated that the timely and adequate financial support is the need of the hour for SME’s and proper capital management training is a must for these industries which avail loans. He congratulated CII for coming up a very useful and thoughtful initiative for the SME’s across the Country.

Mr Rajat Agrawal, Chairman CII Rajasthan and MD, Gravita India Ltd In his address welcomed and congratulated CII for coming up with this unique initiative. He mentioned that the MSME’s are the Kitchen of the Country and they are the ones that feed the lakhs of citizens by providing them job opportunities. He said that around 1.8 crore youth would get in to the job market from 2016 onwards and to engage with them new industries should come up. He urged the bankers to treat the Start-ups / SMEs and Large industries separately and suggested to them to take more care of the start-ups and SMEs.  

Mr Basantt Khaitan, Vice Chairman CII Rajasthan & MD, WMW Metal Fabrics Ltd during his address said that the SME’s have a huge potential to grow and only the growth of SME’s will ensure the overall growth of the Country. He mentioned that the success of an MSME is that they graduate out of it & grow bigger. He appreciated CII starting Finance Facilitation Centre as it is a big milestone and will bridge gap between Banks and SMEs. He also urged the industries to visit the District Industries Centre to gain more knowledge about the schemes available for the SMEs from the centre. 

Mr Nitin Gupta, Director & Head, CII Rajasthan, said One of CII’s focuses on the MSME front is on technology and to see how we can reach to them with technology. Hence we have launched within CII a knowledge portal called mycii.in, through which we are able to interface with lot of MSMEs across India.

Mr Amit Kumar Tripathi, Deputy Director, CII briefed the participants about CII Finance Facilitation Centre which works towards creating awareness amongst the SME members about various financing options and schemes.. The Centre will operate as a one-stop-shop, aggregating financing options from multiple large financial institutions. It will match the SMEs financing demands with the banks and financial institutions, and also project large requirements for finance across financial institutions, provide facilitating role for SMEs to approach the process of accessing funds in a more professional manner. Finance Facilitation Centre will also work towards creating Financial Literacy amongst the SME members through Roadshows, Seminars Webinars and FFC Academy. The centre will provide Advisory / Guidance Support to SMEs by both Finance Providers and Seekers .

The centre will ensure a system based application process being scrutinized by experts and time bound delivery mechanism with a system generated status tracking model. High rate of application submitted through CII-FFC are accepted by Financial Institutions. Since the launch of this centre a year ago loans worth of over 680 Crore Rupees have been provided for SME’s.

CII has partnered with leading Banks & NBFCs to support MSME in availing of funds towards growing their businesses needs and expected to sign MOU with many more banks in the future.

The programme was well attended by more than 75 delegates representing various SME’s across the region.

24 June 2016

Jaipur

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