Banks need to be catalysts for MSMEs

PANAJI: Financial institutions in the state need to proactively fund entrepreneurs especially in the medium, small and micro enterprise (MSMEs) segment in order to propel Goa’s economy, said minister for panchayat and transport Mauvin Godinho here on Wednesday.
Chairman on ASSOCHAM’s council for MSMEs Manguirish Pai Raiker on his part said that financial discipline is lacking among entrepreneurs which prevents them from scaling up.The two were speaking at the financial literacy camp organised by ASSOCHAM in association with the department of Industries, Trade and Commerce and Goa Chamber of Commerce and Industry on World Entrepreneur Day.
“Banks need to sustain spirit of lending to entrepreneurs if we need new entrepreneurs to propel Goa’s economy. Don’t wait for entrepreneurs to come to you, this is my request to banks,” said Godinho.
The minister said that banks need to act as a catalyst for entrepreneurs and for this, banks have to identify young entrepreneurs who have good business ideas. “I want banks in Goa to take it upon themselves to propel our youth in the villages towards entrepreneurship,” said Godinho.