The existing banking system and procedure are failing in meeting the growing credit demand of trading community. The system norms and procedure do not match the traditional concept of trading community said Praveen Khandelwal at the Changemaker program jointly organized by Confederation of All India Traders and CreditEnable at Hotel Ashoka , 8 Rashta Square , Laxminagar, Nagpur. He said that there has to be procedure ease in getting funds by traders to meet the challenges of increasing credit demand in the market. Confederation of All India Traders is committed for improving the financial health of the traders.
Director MSME Govt. of India, P.M. Parlewar inaugurated the workshop of changemaker. In his presidential address Mr. Parlewar said that finance is backbone of any enterprises. Finance should be made available timely to the MSME for survivable and growth.
Message of CEO of CreditEnable, Nadia Sood was read on the occasion in her message she said “Indian SMEs are the key drivers if growth in India and are the reason India is one of the world’s fastest growing economics. Our mission is to help Indian SMEs to avail of affordable finance so they can live out their full potential. We are delighted to be working with CAIT the world’s largest SME association to identify and train CreditEnable Changemakers who can help unlock the vast potential of the SMEs segment in Nagpur which this year was named the No.1 Smart City in the country. Entrepreneurship is abundant in Nagpur and providing entrepreneurs with affordable finance is a key to unlocking an even greater level of productive output in this already great city”.
Managing Director, CreditEnable Mumbai, Mohd. Akabar Khan, said that the CreditEnable is a global credit insights and technology solutions company. The firm has developed numerous proprietary technologies in AI that it draws on to build solutions to world’s biggest financial problems. CreditEnable’s borrower solutions help SMEs better understand lenders credit requirements, get prepared for debt and secure the capital they need at an affordable rate. National President CAIT, B.C. Bhartia said the need of hour is to promote ease of doing banking. The existing banking system is so cumbersome that the traders are finding very difficulty in doing bank compliances. The cost of borrowing is increased the compliances of monthly stock statement, Insurance, final annual account, renewal of limit etc. is eating away time, energy and also proving costly. Bhartia said that in future term finance from non banking financial company will replace the existing system of cash credit and over draft by bank.
Channel Partner, CreditEnable Pravin Kumar explain the entire scheme of changemakers program and the incentives offered to changemaker. Later on a workshop of changemakers was also conducted. Training was given on what types of papers should be collected from the borrower and how the compliance has to be done. On behalf of, financer the representative of Edelweiss shared his experience on the subject of challenges being faced by changemaker both from the borrower side and lender side.
Traders and prospective changemaker from different District of Vidarbha were present Kishor Dharashivkar welcome the Guest, Farooque Akabani propose Vote of Thank. Jyoti Awashti and Dr. Swarnima Sinha assisted in technical session. Proceeding were conducted by Nikhilesh Thakar.
Ashok Dalmia Akola, Muresh Kashikar Wardha, Gopal Agrawal, Ramkrishna Gupta, S.B. Bhutolia, Ravindra Gupta, Anil Nagpal, Subhash Jobanputra, Vinod Gupta, Sanjeevani Chaudhari, Vijay Chaurasia, Sangeeta Khandelwal, Govind Patel, Sachin Gulati, Sarita Chaurasia, Madhusudan Trivedi, Satish Bang and Jayshree Gupta were prominently present at the ocassion.