Narayan Rane Inaugurated MSME Conclave 2022 in Sindhudurg, Maharashtra; Launches Union Bank MSME RuPay Credit Card

On February 25-26, 2022, a two-day MSME Conclave 2022 organized in Sindhudurg, an administrative district of the Konkan division in Maharashtra which was inaugurated by Union Minister Narayan Tatu Rane, Ministry of Micro, Small & Medium Enterprises (MSME). It was organized by the Ministry of MSME.

• The Conclave aims to promote entrepreneurship and trade opportunities for MSMEs in the Konkan region with the use of technology, product development and skilling.
• Union Minister also inaugurated Coir Board Regional Office at Kankavali in Sindhudurg. As part of the 2-Day MSME Conclave by the Ministry of MSME,  B.B Swain, Secretary, Ministry of Micro, Small & Medium Enterprises, chaired the MSME Conclave for National SC/ST Hub (MSME- NSSH) at Sindhudurg in Maharashtra

Objective:

The objective behind this conclave is to make Sindhudurg region a top industrial sector which will create employment opportunities. Currently, most of the residents of Sindhudurg had to leave the city for job opportunities and to earn a living. 

Launch of Union Bank MSME RuPay Credit Card:

During the conclave, the Union Minister Narayan Rane launched the Union MSME RuPay Credit Card which is being offered by Union Bank of India in partnership with the National Payments Corporation of India (NPCI).

• This card is a simplified payment mechanism for MSMEs to meet their business-related operational expenses.
• The Union Minister also distributed the first batch of RuPay cards to select MSME entrepreneurs.

Benefits by RuPay Card:

i.It offers anytime digital payments that will reduce the demand for cash withdrawal, interest-free period and will carry interest rate similar to the rate charged for loans.

• MSME borrowers will get an interest-free credit period of up to 50 days on their business spends.

ii.It also offers the EMI (Equated Monthly Instalment) facility for business-related purchases.

iii.MSMEs will also get specially curated business services on this card that will bring their business on most of the digital platforms.

iv.It will also enable banks to monitor the transactions at granular level. 

v.It includes accidental insurance coverage, lounge access, rewards being offered by NPCI on RuPay cards, additional features and business services for the MSMEs. 

Rs 200 Crore MSME Technology Centre to be set up in Sindhudurg

The Union Minister also announced the establishment of MSME-Technology Centre with an outlay of Rs 200 Crore in Sindhudurg, Maharashtra.

• It will provide the best of technology, incubation, and advisory support to the industry, especially MSMEs, to enhance their competitiveness. 
• It will also provide skilling services for the employed and unemployed youth of the area to enhance their employability.

Narayan Rane inaugurates KONBAC-SFURTI Bamboo Cluster at Kudal 

The Union Minister, Narayan Rane inaugurated the KONBAC SFURTI (Konkan Bamboo and Cane Development Centre – Scheme of Fund for Regeneration of Traditional Industries) bamboo cluster at Kudal, a town in Sindhudurg to support 300 artisans. 

• The cluster will be set up with Ministry of MSME funding of Rs 1.45 crore.
• This will attract people to the bamboo business and will be beneficial for locals.

About KONBAC :

It is an independent non-profit organization with a fully developed facility for designing, prototyping and producing premium bamboo products for Indian and international markets. 

About SFURTI:

It is an initiative by the Ministry of MSME to promote Cluster development. The scheme organizes traditional industries and artisans into clusters to make them competitive and to provide employment for traditional Industry artisans and rural entrepreneurs.

Other Participants:

Secretary MSME, B.B Swain; Chairman, Khadi and Village Industries Commission, Vinay Kumar Saksena; Director KONBAC Mohan Hodavadekar, among others

Other Highlights of Conclave:

i.The Minister distributed electric potter wheels, bee boxes and Agarbatti making machines to rural artisans of Ratnagiri and Sindhudurg District and adjoining areas. 

ii.He also felicitated 25 Khadi artisans and handed over certificates on completion of training.

iii.Sanction letters were handed over to 10 PMEGP (Prime Minister Employment Generation Programme) beneficiaries who will associate with self-employment activities of Khadi and Village Industries Commission (KVIC).

Points to be noted:

i.MSME Ministry has set up nearly 2000+ new manufacturing units in Konkan resulting in creation of 16,400 direct employment. 

• To support these projects, the Ministry has disbursed a subsidy amount of Rs 71.65 crore.

ii.The Central Government is promoting entrepreneurship and employment creation in the region by rigorous implementation of flagship programs like PMEGP, SFURTI,  Honey Mission and Kumhar Sashaktikaran Yojana for empowerment of potters.  

Recent Related News:

Union Bank of India has entered into a strategic co-lending partnership with Home First Finance Company India Ltd (HomeFirst) to offer home loans to customers at competitive interest rates.

About Ministry of Micro, Small & Medium Enterprises (MSME):

Union Minister– Narayan Tatu Rane (Constituency- Maharashtra) 

Minister of State– Bhanu Pratap Singh Verma (Constituency- Jalaun (SC), Uttar Pradesh)