A conclave on ‘MSME Financing – Opportunities and Challenges’ organised by the Federation of Telangana Chambers of Commerce and Industry (FTCCI) at its premises here got underway on Thursday.

The two-day programme will serve as a platform for the micro, small and medium enterprise (MSME) entrepreneurs to interact with the bankers and financial institutions on the various funding opportunities.

Addressing the inaugural session, Deputy Managing Director of Small Industries Development Bank of India Manoj Mittal said SIDBI had met all credit policy targets in Telangana. Highlighting the importance of MSMEs in economic growth, he said units in the sector accounted for 60% of Telangana’s total exports of ₹ 40,000 crore. Going forward, MSMEs sector will be the largest job creator, he added.

RBI Regional Director Subrata Das said information dissemination is the key to the progress of MSMEs. “We at RBI firmly believe that timely, adequate and reasonable interest rates will enable growth of the MSME sector. Funds were never a problem, but lack of information is,” he said. FTCCI president Karunendra S Jasti emphasised the need for access to easy finance for MSMEs. Several banks have put up information stalls at the conclave, a release from FTCCI said.

Published On : 09-08-2019

Source : The Hindu