Today Micro Small and Medium Enterprises (MSME) are facing severe problems of need-based working capital and other financial assistance from Financial Institutions and Banks. The availability of Finance and liquidity of money is the biggest challenge being faced by MSMEs. The gap between credit demand and credit availability is estimated at 400 billion dollars.
There is a large contradiction, where MSMEs are saying that they are not getting financial assistance from Financial Institutions. On the other side, the lending agencies say that the financial papers and CIBIL score of MSME does not entitle them to get the amount of loan they are demanding. Hence, it is time to bridge this gap.
The festival season is around the corner. In such a situation, need-based financial assistance if not made available to MSME, it will be a great setback to the economy as well as the GDP of the country. Keeping all these issues in mind, Confederation of all India traders is holding a camp on the financial health clinic of MSME at its meeting hall on the 4th floor, ’Sadoday’ building,77 Central Avenue, Gandhi Putla, on Tuesday 17th September from 11 a.m. onwards.
B C BHARTIA National President of Confederation of All India Traders (CAIT) has informed that senior experts from Credit Enable, Mumbai which has an International presence will be coming at the CAIT office at 10:30 am. He has appealed to the traders that whosoever wants to get their financial papers examined by the senior officials to know what are the shortcomings and how to improve the financial strength of their balance sheets should meet then.
Bhartia said that MSME can get their three years of financial papers and sit with this Senior Officers on one to one basis. They can also discuss the ways and means to improve their CIBIL score. They will also explain what are the reasons on the basis of which CIBIL score is reduced. This one to one meeting will maintain the secrecy of individual financials.
Chairman of Team CAIT Nagpur Gopal Agrawal has also appealed to traders to take advantage of this financial health clinic. President Kishore dharashivkar has said that if advance intimation is received from anyone then appointment time can be reserved. Organizing Secretary Nikhilesh Thakar has appealed to young Chartered Accountants to take advantage of Camp. Prabhakar Deshmukh and Gyaneshwar Rakshak president and secretary respectively of Kirana vyapari Sangh has appealed to retail traders to take advantage of the camp. Subhash Jobanputra Organising Secretary of Maharashtra Consumer Products Distributors has appealed to consumer product distributors to encourage their retailers for this program.
Swarnima Sinha and Jyoti Awasthi of women entrepreneur has also appealed to all the women entrepreneurs to come with their financials and take advantage. Those interested can contact Mansi Bajirao informed Secretary-General Farooque Akbani.
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