Entrepreneurs - Bankers Meet 2016

BHUBANESWAR, INDIA - Entrepreneurs have an eloquent interaction with Bankers on Export Finance Facilitation

Exports are key for development of an economy said Mr. Santanu S. Barua, Deputy General Manager, Small Industries Development Bank of India (SIDBI) Bhubaneswar. Portraying the current global economic scenario and comparing the economies of various developing countries he emphasized that growth in merchandise export is the one of the most significant factors which would further strengthen and stabilize the Indian economy. This he said while delivering the inaugural address at Entrepreneurs – Bankers Meet 2016, organized on Friday, 22nd April 2016 by World Trade Center Bhubaneswar in association with Entrepreneurship Development Institute of India (EDII) Bhubaneswar at the Conference Hall of IDCO Towers Extension Building, Bhubaneswar. Further through a presentation he deliberated on the various initiatives and schemes of Government of India as well as SIDBI in relation to financing of MSMEs which could be leveraged upon by the entrepreneurs and start up enterprises.

Some of the other leading bankers from the State who participated and made their representations in the program were Mr. Mizra Baig, Chief Manager, SME, from State Bank of India, Mr. Barin Gopal Maitra, Chief Manager Credit from Indian Bank and Mr. Satya Sharan Mondal, Assistant General Manager (Credit) from IDBI Bank. The bankers subsequently presented on their products and services along with the schemes of the respective banks for the entrepreneurs to avail SME as well as Export Finance. They also shared the particulars on various critical areas of export finance such as guidelines, pre-shipment and post – shipments finance, advance disbursement, banking in foreign exchange etc.

Following which the stage was taken over by a very lively question answer session where the entrepreneurs not only came up with their general quires on export finance but also discussed the hurdles faced by them while approaching banks for finance on a case to case basis. A general discussion on the way forward for promotion of entrepreneurship and export oriented business and the role which banks could play in assisting them added more value to the session and enthused the participants.

Marking the importance of the meet Mr. C. R. Pattanayak, Coordinator of EDII, Bhubaneswar earlier in his opening remarks asserted the need for such interactions between bankers and entrepreneurs as well as other stake holders from time to time as because there exists a huge need to boost and motivate the educated masses of the State to take up entrepreneurship and remove certain mental barriers carried by them when it comes to devising a start-up firm. 

Earlier in her welcome address Ms. Nimeshika Natarajan, Manager, World Trade Center Bhubaneswar while welcoming the participants and bankers talked about various other initiatives of the Center over the past one year towards facilitating international trade and business by the entrepreneurs of the state. She emphasized that this meeting was organized with an objective to provide a common platform to the entrepreneurs and bankers for a healthy and fruitful interaction, as finance has always been one of the most critical areas of business and such interactions could provide an opportunity for the necessary orientation of the entrepreneurs.

The meet was attended by a cross section of entrepreneurs, start-ups and aspiring individuals from various sectors including Handicrafts, Handlooms, Logistics, Travel Services, Health Services, Food Processing Units, Sea Food Exporters and other Financial Institutions. The participants lauded and thanked the organizers for their initiative on such critical issue and expressed their keenness to be a part of such programs in future also.

PHOTO: A view of the meeting in session.

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