DIMAPUR — With an objective to promote Micro, Small and Medium Enterprises (MSME) development and financial support in Nagaland, the State Level Bankers Committee (SLBC) organised a national MSME cluster outreach programme in the conference hall of the deputy commissioner’s office in Dimapur on November 9.
A DIPR report stated that the event brought together key banking sector representatives and local MSME leaders to discuss financial resources and loan requirements for MSME.
The programme was chaired by SLBC coordinator, H Lalhimpuia, who welcomed participants and initiated discussions with banking officials and Dimapur cluster representatives.
Also read: Nagaland hosts academic assembly on NEP-2020 challenges
Dhruba Charan Pal, general manager (Network Work-II) of SBI Guwahati; Bhanu Prakash Verma, general manager and regional in-charge of SIDBI Guwahati; and Surabhi Bhattacharyya, deputy general manager of SBI, Jorhat, gave insights on accessing MSME financial services.
It stated that Aolemba Longkumer, chairman of Wooden Furniture Cluster in Dimapur, shared specific challenges and needs within Dimapur’s furniture sector such as access to advanced machinery and improved marketing resources.
It added that banking representatives outlined essential criteria for MSMEs to qualify for bank loans, emphasising the importance of good CIBIL score, organised financial documentation, transaction through bank accounts as well as adequate collateral and business plan.
The session covered 12 government initiatives supporting MSME including access to credit, market expansion, technology upgrades and ease of doing business.
The report added that PM Vishwakarma scheme, targeting artisans and craftspeople, was highlighted for integrating traditional skills into national and international markets.
It stated that Dimapur’s MSME cluster with 90 active members has identified improved technology and equipment as crucial for connecting with larger industries and increasing competitiveness.
Following the Dimapur outreach programme, the Dimapur cluster members and representatives from SBI bank joined the union Finance Minister, Nirmala Sitharaman, at the Peenya Cluster in Bengaluru, Karnataka, virtually.
Sitharaman virtually inaugurated six new Small Industries Development Bank of India, (SIDBI) branches, five Nari Shakti branches of Union Bank of India and a new learning centre for Canara Bank.
Sitharaman addressed the MSME representatives nationwide, wherein she emphasised the government’s ongoing commitment to expanding MSME opportunities.
Sushri Sobha Karandlaje, Minister of State for MSME; Pankaj Chaudhary, Minister of State for Finance; and Jitan Ram Manjhi, Minister of MSME, also spoke during the programme.