- This marketing event connected over 120 artisans with the microfinance institutions and also provided direct selling facilities
- SIDBI digitised lending processes to process loans in 48 hours: CMD Ramann
- SIDBI Regional Office, Ahmedabad has been organizing ‘Swavalamban Melas’ since 2021.
NE BUSINESS BUREAU
AHMEDABAD, FEB 22
The Small Industries Development Bank of India (SIDBI) on Monday said it has conducted the third edition of Swavalamban Mela in the city during February 16-20 at Ahmedabad Haat, Vastrapur with an objective to help micro-entrepreneurs, artisans and self help groups (SHGs) in expanding customer base.
The five-day marketing event also connected them with the microfinance institutions, fintech partners for lending support.
“We are encouraging micro-enterprises, especially women-led units from Gujarat to use this platform to showcase and sell their products. 120 artisans and entrepreneurs from all parts the state took part in this mela,” said Sivasubramanian Ramann, Chairman & Managing Director of SIDBI.
SIDBI digitised lending processes to process loans in 48 hours: CMD Ramann
The CMD said that SIDBI has fully digitised its lending processes to extend financial assistance in 48 hours. With this SIDBI aims to offer financial assistance to MSMEs in Gujarat. He also mentioned that SIDBI has been taking new initiatives to increase the flow of credit to MSMEs.
“SIDBI has fully digitised its lending processes to extend financial assistance in 48 hours,” he said.
He expressed SIDBI’s commitment towards increasing the flow of credit to MSMEs particularly underserved/unserved MSMEs.
Out of the Rs 15,000 crore direct lending in the country, Gujarat’s share was Rs 4,000 crore, And all three offices in Ahmedabad fare well, Ramann added.
To a query on micro-lending in Gujarat, while Tamil Nadu and Maharashtra were the major beneficiaries, Gujarat was more prosperous and the demand for micro loan was very less, Ramann said.
Continuing its promotional & developmental initiatives, SIDBI has been organizing ‘Swavalamban Melas’ across the country for the benefit of micro and small artisans. The basic objective of organizing such Melas is to give a platform to these small artisans for display and sale of their products thereby giving a fillip to ‘Vocal for Local’ and making these small artisans ‘Atmanirbhar’. It is in this context, SIDBI Regional Office, Ahmedabad has been organizing ‘Swavalamban Melas’ since 2021.
Sivasubramanian Ramann, Chairman & Managing Director of SIDBI along with other senior officials & dignitaries from RBI, NABARD, Government of Gujarat etc. attended the closing ceremony of the ‘Swavalamban Mela’.
