Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2013-10-24

R&D, Technology & knowledge dissemination key to revive MSMEs: Jaspal Singh

“Technological advancement, Research & Development, enhanced awareness about the assisting schemes and knowledge dissemination can work wonders to upscale the level of MSMEs in India and particularly in North,” said Mr Jaspal Singh, Secretary-Expenditure Dept of Finance & Planning, Government of Punjab.

Technological advancement, Research & Development, enhanced awareness about the assisting schemes and knowledge dissemination can work wonders to upscale the level of MSMEs in India and particularly in North,” said Mr Jaspal Singh, Secretary-Expenditure Dept of Finance & Planning, Government of Punjab.

 

He was addressing a Conference on Financing for Growth-Focus on sustainable development of MSMEs, organized by the CII (Confederation of Indian Industry) at CII Headquarters here in Sector 31 on Wednesday.

 

"It is imperative that finance is easily available to MSMEs and at reasonable rates so that they can grow to the next level. We are continuously working to create an enabling environment for the MSMEs in Punjab as they play a critical role in Punjab's economy", he added.

 

On this occasion, an MOU was signed between CII and Canara Bank to facilitate credit access for Micro, Small and Medium enterprises. Under this MOU, Canara Bank shall extend a concession of 50 bps on the applicable card rate of interest and rebate of 50% in the processing/Upfront fee to the current MSME members of CII applicable all across India.

 

This MOU was signed by  Mr R Madhusudan, General Manager, MSME Wing, Head Office, Bangalore on behalf of Canara Bank and Mr Raman Saluja, Chairman Regional committee on MSMEs, CII Northern Region on behalf of CII.

 

Mr P S Rawat, Executive Director, Canara Bank, said, “In north, 71.15 lac MSME enterprises (27.3% of India’s total MSMEs) provide employment to approximately 1.53 crore people i.e. 25.8% of national MSMEs, hence it really needs help from financial institutions in current scenario. Against this backdrop, Canara Bank has signed this first of its kind MoU that will provide structural finance to the sector.”

 

Related opportunities
  • Herbal, Ayurvedic, Homeopathic & Natural Care products
    About Us: CARRIER WITH SHOP ''HEALTHCARE ADDA'' Our Objective is to present..
    Locations looking for expansion Madhya pradesh
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 50 K - 2lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Indore Madhya pradesh
  • Quick Service Restaurants
    About Us: Established in 2012, formed in the trend setting street..
    Locations looking for expansion Delhi
    Establishment year 2012
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Juices / Smoothies / Dairy parlors
    About Us: Founded in 2016 and now stand with more than..
    Locations looking for expansion Telangana
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 20lac - 30lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Hyderabad Telangana
  • Want to start your own preschool with different approach? HPS..
    Locations looking for expansion Andhra Pardesh
    Establishment year 2009
    Franchising Launch Date 2009
    Investment size Rs. 10lac - 20lac
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Secunderabad Andhra Pardesh
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts