Union Minister of MSME (Ministry of Micro, Small and Medium Enterprises) and Road, Transport and Highways, Nitin Gadkari launched Indian Bank’s first of its kind flagship Business Mentoring Program named ‘MSME Prerana’ in Maharashtra.
- Objective: To develop managerial and financial capabilities of MSME Entrepreneurs and create awareness on various initiatives taken by the central government (govt)/ State govt / Reserve Bank of India and Other agencies.
- The programme will be started from Nagpur, Maharashtra followed by other important cities of the state.
Key Facts of ‘MSME Prerana’:
i.It was designed by Indian Bank in collaboration with Poornatha and Co. to empower MSME entrepreneurs (especially women), under which MSMEs will be trained through capacity building workshops in local languages for skill development and business understanding.
ii.Under training, the trainers/coaches will support the Entrepreneurs for onboarding to various digital platforms viz Udayam Registration, Trade Receivables Discounting System (TReDS), MSME SAMADHAN, Government e-Market (GeM) portal etc.
iii.Initial Launch: Initially it was launched by Union Finance Minister, Nirmala Sitharaman, in October 2020. At 1st the programme was implemented in the language Tamil for the Coimbatore, Tamil Nadu clusters of Indian Bank. Click here to know more
- Until now, a series of 10 virtual programs have been successfully conducted in the state/Union Territory of Uttar Pradesh, Tamil Nadu, Pondicherry and parts of Uttarakhand.
iv.Indian Bank is planning to extend the programme to Andhra Pradesh, Telangana and Gujarat in June/July, 2021.
MSME Sector of Maharashtra:
i.Maharashtra accounts for ~15 percent of India’s GDP, it was gained through prominent sectors such as Banking, financial services and insurance (BFSI), Entertainment, Textiles, auto & auto ancillary space.
ii.As per the Annual Report of the MSME Ministry, Maharashtra is being one of the top 5 states with ~48 lakh estimated MSMEs, this program will enhance those MSME’s productivity.
Note – MSME sector creates 11 crore jobs in India, contributes to 30 percent of Indian GDP and 48 percent to exports.
Recent Related News:
To extend support to Start-ups under the program ‘IND SpringBoard’, Indian Bank made an agreement with The Chennai Angels, an angel investment group on April 22, 2021.
About Indian Bank:
i.It is India’s 7th largest Public Sector Bank and the 2nd largest MSME segment (in terms of percentage growth (15percent)).
ii.It provides financial support to 20 lakh MSMEs with credit exposure of over Rs 70,180 crore.
Establishment – 1907
MD & CEO – Padmaja Chunduru
Headquarters– Chennai, Tamil Nadu
Tagline – Your Own Bank