Editor in Chief : S.N.Vinod    |    Executive Editor : Sunita Mudaliar
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Published On : Mon, Jun 11th, 2018
Business News | By Nagpur Today Nagpur News

Access to Capital determines the fate of MSME’s : Shri Pradeep Nath

While the Micro, Small and Medium Enterprise (MSME’s) form an integral part of economy, access to credit is a concern that continues to haunt the sector. While MSME’s are integral to the country’s economy, the success of the same is directly dependent upon the easy and effective access to the capital on a timely basis. The entrepreneurs have time and again approached different levels of the government and banks for assisting the MSME’s sector. Role of banks is assisting finance facilities ensures the MSME’s have continuous availability of funds so as to secure order and maintain sales said Shri Pradeep Kumar Nath, DGM, SIDBI speaking on a Seminar on Credit Facilities for MSME’s and Housing for All organized by Nagpur Branch of WIRC recently.

He further said promotion of cleaner production and energy efficiency should also be taken care while determining the financial viability of a project before financing. He further said that SIBDI too provides several schemes and also offers financial services and products for meeting individual’s requirement of various businesses in MSME Sector.

Further Mr. Gaurav Agarwala said that despite having made massive leaps in development over the last decade or so, India still has a large a population living in abject poverty, most of whom don’t have a house to call their own. The Indian government has taken serious steps towards abolishing homelessness with the introduction of Pradhan Mantri Awas Yojana (PMAY) along with other schemes. PMAY is a significant step in making the dreams of the poor come true. It shall ensure that the People of Urban India can live in their own house by providing financial support in the form of subsidy.

Under Credit Linked Subsidy Scheme (CLSS) – Subsidy of Rs. 2.30 to Rs.2.67 lakh shall be given by the government. He further said that If Income of a person is less than Rs.6 lakh per annum. Stamp Duty amount will be Rs. 1,000/- + 2.5% only (instead of 7.5%). Carpet Area of the residential property should be less than 60 sq. mts. He also informed the members that EMI on loans under PMAY can be paid through Provident Fund Accounts in case the employer with more than 10 employees opts for this scheme.

Chairman CA. Umang V Agrawal welcomed the guest speakers and all the participants. He highlighted that MSME are usually one man show and it is often not possible for the entrepreneurs to have bright balance Sheets and Trade Ratios and therefore banks entertain financing of MSME’s looking at the overall prospectus of the business. He further highlighted the NPA accounts in case of MSME’s is quite low when compared with the other sectors. He also briefed about the forthcoming activities of the branch.

CA. Abhijit Kelkar, Regional Council Member, congratulated the Branch in organizing a seminar on such a crucial subject while briefing the members about the initiatives undertaken by the WIRC and ICAI for promotions of MSME sector. He said that the Institute is continuously updating members with respect to newer means of finance so that the benefits are derived by a common man through proper guidance and support by Chartered Accountants.

The programme was coordinated by CA. Sandeep Jotwani, Immediate Past Chairman while CA. Kirit Kalyani coordinated the Technical Session.

Prominently present were Vice Chairman CA Suren Duragkar, Treasurer, CA Julfesh Shah, CA. Jiten Saglani, CA. Swapnil Ghate, Past Chairman and over 70 Chartered Accountant Members.

Bebaak
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