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Mumbai, NFAPost: Indian Bank launches its flagship Business Mentoring Programme ‘MSME Prerana’ in the state of Maharashtra. ‘MSME Prerana’ is a novel, unique and innovative business mentoring program, first of its kind to empower MSME Entrepreneurs. The programme will begin from Nagpur followed by other important cities in Maharashtra.

While launching this flagship program, Union Minister of MSME and Road, Transport and Highway Nitin Gadkari said he thanks and appreciates Indian Bank team for thinking out of the box and introducing this great initiative for MSMEs.

“The sector contributes 30% to Indian GDP and 48% to exports while creating 11 crore jobs in India. I suggest banks to introduce a mechanism that can help in evaluating the financial ratings of the MSMEs at the preliminary stage. New entrepreneurs have the energy, skill and talent and timely support to MSMEs by financial institutions like Indian Bank will help expedite the growth of this sector,” said Nitin Gadkari.

Nitin Gadkari also pointed out that such steps can helps the government in bringing down the imports by becoming Atmanirbhar. “With this initiative, I am confident that the MSME sector will succeed in this field,” said Nitin Gadkari.

Indian Bank has always been a front runner in providing financial support to its 20 lakhs MSMEs with credit exposure of over Rs. 70,180 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.

Currently, Maharashtra accounts for ~15% of India’s GDP gained through some of the prominent sectors such as BFSI, Entertainment, Textiles, auto & auto ancillary space. As per the MSME Annual Report by the Ministry, Maharashtra is one of the top 5 states with ~48 lakh estimated MSMEs reflecting the relevance of this programme to enhance productivity of the businesses in the state.

Indian Bank MD & CEO Padmaja Chunduru said the bank is delighted to extend its flagship programme MSME Prerana to customers in Maharashtra.

“We are the 7th largest Public Sector Bank in the country, and in the MSME segment we are the second largest in terms of % growth (15%). Maharashtra being one of the important markets for our Bank, it is our endeavour to instil confidence among small entrepreneurs and equip them with business acumen. We are committed on taking this one of its kind programme to other cities and empower the entrepreneurial community,” said Padmaja Chunduru.

The programme christened MSME Prerana has been designed in collaboration with Poornatha and Co. to empower entrepreneurs in driving business more efficiently by optimizing value and capacity. ‘MSME Prerana’ adopts a step-by-step approach in providing training to MSME, to understand their business numbers, the concept of the balance sheet, cash flow management, managing their business during the crisis time, decision making, communication and leadership skills, awareness on various initiatives taken by Govt. / RBI / Bank.

The trainers/ coaches extend hand-holding supports to Entrepreneurs for onboarding to various digital platform viz Udayam Registration, TReDS, MSME SAMADHAN, GeM portal etc.

This business mentoring programme enhances the confidence & sense of empowerment especially among women Entrepreneurs. Women found that knowledge and business planning helped them to set goals and targets for their enterprises.

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 10 virtual programmes have been successfully conducted in the state of Uttar Pradesh, Tamil Nadu, Pondicherry and parts of Uttarakhand.

‘MSME Prerana’ is spreading its outreach to Andhra Pradesh, Telangana and Gujarat during June / July, 2021 and will be conducted in all major languages pan India in a phased manner.

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