Karnataka Vikas Grameena Bank (KVGB), a Regional Rural Bank sponsored by Syndicate Bank, plans to disburse Rs. 1,000 crore to Micro, Small and Medium Enterprises (MSME) sector by December.
“The bank is already working on development initiatives for the benefit of MSMEs to fund 1,000 crore. We are also advising budding entrepreneurs to come with project proposals or dream projects,” S Ravindran, Chairman, KVGB told.
“The bank will not refuse credit to viable and transparent enterprises and will also take steps to provide necessary training through RUDSETIs and SIRDs,” he added. Recently the bank chairman inaugurated a Stone Crusher Unit financed by it (KVGB) at Chikodi in Belagavi district. KVGB is exploring funding MSMEs in manufacturing including the infrastructure and services sector which are key generator of job opportunities.
Ravindran mentioned that although the government and the banking industry had taken many initiatives to boost MSME sector there is huge reluctance and low awareness amongst the enterprises to take advantage.
“KVGB is meant to cater to the needs of MSMEs, analyse their problems, help them face challenges and solve their issues. MSMEs should make the best use of these facilities,” he added.
Source: Business Line
