The Economy & Finance Forum of Vidarbha Industries Association (VIA) recently conducted a session on “SIDBI new schemes of assistance for MSME” at VIA Auditorium as well as virtual platforms. Eminent speakers and chief guest of the session, Anjani Kumar Srivastava, General Manager of Small Industries Development Bank of India (SIDBI), Pune Region, addressed the participants and highlighted the potential and importance of the region and developmental role which SIDBI can play. He shared his experiences and exposure of customers from Nagpur. Srivastava briefed about SIDBI, which acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium. He said SIDBI’s role is to facilitate and strengthen credit flow to MSMEs and address both financial and developmental gaps in the MSME eco-system. He gave an overview of the various new schemes of SIDBI and spoke about schemes like Arise, Sthapan, Ubharte Sitare and other activities of SIDBI for the MSME sector. D Prasad Rao, Branch Manager of SIDBI, Nagpur Branch gave presentation on “SIDBI new schemes of assistance for MSME” and also elaborated the ARISE Scheme, which planned incentive programmes for units having excellent repayment track record with SIDBI and timely implementation of the project. He further said this is 100 per cent financing for purchase of machinery only is allowed for smaller loans up to Rs 3 crore and sectors under the scheme include automobiles and automobile components, aerospace and defense, biotechnology, chemicals and chemical products, textile and garments, electronic systems, electrical machinery, drugs and pharmaceuticals, food processing, renewable energy, etc.

 

STHAPAN Scheme is exclusively for assisting greenfield units in specified sectors like PLI, medical equipment, A&D, auto, project funding including purchase of industrial plot, civil works, purchase of machinery, MFAs, etc. Incentive is given one-time grant support of Rs 1 lakh or 0.1 per cent of term loan outstanding, whichever is lower, shall be provided to a borrower provided they adhere to milestones set under terms of sanction. He further elaborated on other schemes. Earlier, Suresh Rathi, President of VIA, welcomed, Anjani Kumar Srivastava and D Prasad Rao by offering the floral bouquet. S S Muddamwar, General Manager of DIC was also present on the occasion and was welcomed by CA Girish Deodhar. CA Naresh Jakhotia, Treasurer – VIA, introduced the guest speakers and moderated the Q&A session. CA Sachin Jajodia proposed vote of thanks. Members of the association, MSMEs, industrialists, professionals, entrepreneurs and interested persons attended the session at VIA as well as joined on virtual. Prominently present were Girish Deodhar, Dushyant Deshpande, Rakesh Khator from Lighthouse System, Nitin Agrawal, Jethalal Rukhiyana, Anup Bhalerao, Rishabh Chopra and others.