KCCI holds talk on MSME issues

KCCI holds talk on MSME issues

Mangalore Today News Network

Mangalore, Sep 3, 2011 : The Kanara Chamber of Commerce and Industry (KCCI) organized a talk in Micro Small Medium Scale Enterprises (MSME) and General Issues in the KCCI meeting hall on September 2 Friday.

 

 

 

 

 

 

Speaking on the occasion, H.S. Upendra Kamath, the chairman and managing director of Vijaya Bank, said that 60 percent of the funds lent by banks should be used on micro enterprises within the time frame set by the RBI. Both the financial secretary and the RBI has directed commercial banks to ensure that each branch opens 5 MSME accounts annually because the MSME sector is in dire need of financial assistance, he added.

Further, he said that the RBI has recommended that financial commitments should be restructured by sacrificing interest rates. While the banking sector has been growing at the rate of 20 percent, the number of beneficiaries should also increase, he added.

Sudhir P Ghate, Chairman, Magnum Intergrafiks Pvt Ltd, Ms Latha R Kini, President, KCCI and many eminent personalities were present on the occasion.

An interaction session followed the talk.