This story is from February 12, 2019

‘Indore has immense potential in garment, auto’

‘Indore has immense potential in garment, auto’
Indore: Indore has unlimited potential for micro, small and medium enterprises but lack of connect and awareness about schemes are major barriers that need to be focused on, top bankers said on Monday.
Leading bankers and budding entrepreneurships gathered at district MSME support and outreach programme organized by Indore district lead bank, Bank of India (BOI).

Atanu Kumar Das, BOI executive director said, “The potential of this region is limitless. Although Centre has identified it for pharmaceutical and food processing, other industries such as garment, automobiles also have immense potential.”
As part of the programme to support budding entrepreneurs and help existing players for facility upgrade, 55,250 beneficiaries were given loans in various categories like restructuring and social security schemes in Indore district through different banks. Indore district has surpassed the target of 54,897.
On Monday, loan disbursement letters were distributed to over 200 beneficiaries. Disbursement letters for loan worth Rs 938 lakh under PSB loans in 59 minutes and Rs 718 lakh in Mudra loan scheme were disbursed to beneficiaries of district.
Das said, “The target was achieved by combined efforts of Bank of India and other banks. There is still much more to do and we will take this mission beyond.”
Bankers said it is very important to bridge the gap between MSMEs and government schemes to increase number of beneficiaries.

Lead bank manager Mukesh Bhatt said, “We need to focus more on reaching out to each and every person at ground level. People need more awareness.”
In Indore, most beneficiaries availed loan for food processing, textile, pharmaceutical and automobile units.
Das said, “We are trying to take help from financial literacy centres to bridge the gap. We have got network here and a lot can be done.”
Praveen Garg, additional secretary, minister of environment and forest said, “Indore district has achieved 100 per cent target. Indore is one of the advanced districts because it traditionally has a lot of industry presence.”
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