IamSMEofIndia is Awesome, says Kshatrapati, CMD – SIDBI


In what Mr. Rajiv Chawla, Chairman, IamSMEofIndia fondly calls ‘Tryst with Visionary Leadership’, hundreds of MSME entrepreneurs, professionals, bankers, consultants and media persons got an opportunity to interact with Mr. Kshatrapati Shivaji, IAS, Chairman & Managing Director, SIDBI.

 

Mr. Chawla yet again left the entire audience that included apart from the SIDBI CMD Special Guest Mr. K C Lakhani – Chairman, Lakhani Armaan Group and popularly known as the Bhishm Pitamah of Faridabad Industries, Senior officials from SIDBI Mr. Namgial – Chief General Manager, Mr. Sanjay Goyal – General Manager, Mr. Rishi Dwevi – Dy. General Manager, Mr. Gurmeet Singh Kular – President FICO Ludhiana, Mr. R N Chaudhary – President, Bhiwadi Chambers of Commerce & Industry to name a few, spellbound with his address that talked about the journey of IamSMEofIndia which started in 2009. Mr. Chawla in his brief presentation showcased a whole range of Tried, Tested, Credible, Affordable and Readymade solutions that IamSMEofIndia has introduced to save time, energy and cost for the MSMEs.

Mr. Dwivedi in his crisp presentation talked about SMILE (SIDBI Make In India Loan For Enterprises). SMILE aims at providing soft loans in the nature of quasi-equity and term loans on relatively soft terms to MSMEs to meet the required debt-equity ratio norm as also for pursuing opportunities of growth by existing MSMEs.

The evening also saw the signing of an important MOU, between IamSMEofIndia and SIDBI for Collateral-Free Equipment Finance Scheme upto Rs.75 lacs for Capital Expenditure, Plant and Machinery, Office Equipment @ 11.75%. The MOU was signed by Mr. Chawla and Mr. Namgial on behalf of the two institutions. Mr. Sanjay Goyal was very appreciative of the response this scheme got in the past from IamSMEofIndia members, while Mr. Chawla at the same time acknowledged that this achievement was possible because of very co-operative, supportive and business friendly approach of SIDBI officials, especially in Faridabad branch.

In his address to the audience, Mr. Kshatrapati Shivaji mentioned that various important initiatives taken by the government were sanguine that ‘Make In India’ initiative with a conducive financial ecosystem will make India a manufacturing hub very soon. Two funds were launched by SIDBI, a funds of funds, recently with a total corpus of Rs 12,000 crore. The funds are Rs 2,000-crore India Aspiration Fund (IAF) and SMILE scheme with an investment size of Rs 10,000 crore. The Rs 10,000-crore SMILE scheme, which has built-in higher concessional terms for the enterprises promoted by scheduled caste (SC)/Scheduled tribes persons with Disabilities (PwD) and women, is expected to benefit around 13,000 enterprises with employment of nearly 2 lac persons. SIDBI will be providing 15 per cent of the total corpus which will be mobilised by the start-ups through various resources under IAF or fund of funds. "We have already made a commitment of financing Rs 752 crore to the start-ups which will be further mobilising Rs 8,620 crore under IAF and we are expecting to provide Rs 2,000 crore under the scheme which was likely to mobilize fund to the tune of Rs 20,000 crore in future," said Mr. Kshatrapati Shivaji.

 

Mr. Lakhani talking of brand IamSMEofIndia said he feels very proud that this institution from Faridabad is spreading its wings not only across the length and breadth of the country but also crossing the national borders.

 

It was very recently that IamSMEofIndia had organized the first Tryst with Visionary Leadership wherein the MSEMs had got a chance to interact with wizards like the Governor of Bangladesh Bank, CMD of EXIM Bank and CMD of NSIC.

 

Our association with SIDBI is right from the inception stage of IamSMEofIndia said Mr. Chawla while Mr. Kshatrapati Shivaji said that he would like SIDBI to replicate such models of perfect bonding in other parts of the country also. “IamSMEofIndia is Awesome”, added Mr. Kshatrapati in his concluding remarks.