CII Ludhiana Zone alongwith IDBI Bank Organised Workshop On Financing For MSMEs

Ludhiana, September 9, 2023: CII along with IDBI Bank organised a Workshop On Financing for MSME’s on 8th September, here wherein around 35 CII members attended the same. 

In the opening remarks, Rishi Pahwa, Chairman, CII, Ludhiana Zone and JMD Avon Cycles Limited shared that MSME sector is the backbone of our nation's economy, with immense potential to drive growth, create jobs, and foster entrepreneurship. It is vital that we ensure our MSMEs have access to the financial resources they need to thrive and contribute to our collective goal of achieving a $5 trillion economy. CII will be delving into various government schemes designed to facilitate access to funds, understanding the documentation procedures, and exploring the role of alternate data in facilitating credit disbursement, Pahwa said.

Virinder Sharma, Director, MSME, Chief Guest of the event shared that Government of India has been taking proactive measures to create an enabling environment for MSMEs and encouraging the industry especially the Micro, Small and Medium Enterprises (MSMEs) by providing valuable insights and solutions. 

Ranjeet Soni, Zonal Head, Chandigarh, IDBI Bank, Speaker for the Event threw light on various Government schemes that can be availed by MSMEs for availing funds, various MSME products of IDBI Bank suitable for various businesses, required documentation and procedures etc. In addition, various new developments in MSME sector and information on TReds platform for financing of trade receivables and LC bill discounting was also shared with the participants. The role of alternate data in disbursing credit to MSMEs for their working capital and long-term financing requirements was also discussed.

It was a fruitful session for one and all that concluded with a vote of thanks by Randeep Bhogal, Convenor CII Ludhiana.

Many prominent members attended the interactive session Including Kundan Lal, Asst. Director - MSME, Sarvpreet Singh, Mini Riat, Ashpreet Sahni, Jasminder Singh, CA Abhilash Aneja, Dr. Prem Kumar, Dr. Deepak Jain, Nipan Bansal, LB Maurya, Dr. Abhishek Tripathi, Rakesh Kumar etc.