Indian Bank announced the launch of its flagship Business Mentoring Program ‘MSME Prerana’ in the state of West Bengal. ‘MSME Prerana’ is a novel, unique and innovative business mentoring program in collaboration with Poornatha and Co. to empower MSME entrepreneurs in driving business more efficiently by optimizing value and capacity. It has been launched in the local language of the state – Bengali.
Indian Bank has always been at the forefront in providing financial support to its 20 lakhs MSMEs with credit exposure of over Rs. 70,170 Cr. ‘MSME Prerana’ has been launched with an aim to develop managerial and financial capabilities of MSME Entrepreneurs besides creating awareness on various initiatives taken by GOI / State Govts. / RBI and Other agencies.
In 2019-20, West Bengal’s GSDP growth at 7.26 per cent was higher than the 4.0 per cent national GDP recorded the same year. As of 31.03.2021, the Bank, with 598 branches in the state, had an exposure of Rs. 8566 crores to MSMEs. It posted a growth of 27.64 % in the MSME portfolio on a year-on-year basis in the state and is confident to continue the momentum in the current FY too.
The Bank has developed 28 MSME Cluster schemes for providing financial support at very competitive rate of interest and terms to various sectors viz Ceramic, Pump, Packaging, General Engineering, Timber, Pharmaceutical, Textile, Dyes & Chemicals, Saw Mill etc.
On the launch of the program, Shri. Rajesh Pandey, IAS, Principal Secretary, MSME & Textile Department, Government of West Bengal, said, “I would like to congratulate Indian Bank team for introducing such a unique initiative in West Bengal. West Bengal Government and the MSME department of the State Government is delighted to join hands with Indian Bank to extend support to this sector which is the backbone of the economy, industries and employment of the country. West Bengal has the second highest number of MSMEs in the country with 90 lakh small and medium enterprises. The MSME Prerana program will equip the entrepreneurs with the relevant knowledge and awareness of business which will instil confidence in them. The state of West Bengal is one of the highest ranked states in ease of doing business and Indian Bank’s initiative will further give a boost to the entrepreneurs.
Shri. Imran Amin Siddiqui, ED, Indian Bank said, “We are delighted to scale up our unique ‘MSME Prerana’ program to our customers in West Bengal and are determined to channelize our resources towards empowering MSME entrepreneurs. Since West Bengal is an important market for our Bank, we look forward to equip customers with business acumen and heighten their confidence to face challenges. This customised program seeks to mentor the entrepreneurs in their local dialect, thereby, empowering them to become self-reliant.”
‘MSME Prerana’ has broken the geographical and language barriers by extending web-based training to Entrepreneurs in local dialects using simple terminologies without using jargons. A series of 13 virtual programs have been successfully conducted in the state of Uttar Pradesh, Tamil Nadu, Pondicherry, Maharashtra, Telangana, Gujarat and parts of Uttarakhand. ‘MSME Prerana’ will be conducted in all major languages pan India in a phased manner.