Online session on financial help to MSMEs

Amritsar, March 26

The state chapter of PHD Chamber of Commerce and Industry (PHDCCI) organised an online session on “Banking and innovative financial solutions for Micro Small Medium Enterprises (MSMEs).

Mukul Bansal, Convener, Banking and Financial Services Sub-Committee, Punjab State Chapter, PHDCCI welcomed the speakers and participants. While moderating the session, he said the MSME sector in the country accounts for 99 per cent of all registered businesses in the country. He added that there is an urgent need to address the delayed payment and ease of working capital for MSMEs.

SB Singh, Convener, MSME Sub-Committee, Punjab Chapter, said the MSME sector was facing a lot of issues due to increase in cost of raw materials; lower demand and also high cost of accessing finance. Key constraints to the MSME sector are inadequate market linkages, inadequate finance, lack of technology which affects their business growth.—