Canara Bank promotes entrepreneurship
Updated: Jul 23, 2013 04:28:44pm
Bengaluru, Jul 23 (KNN) The Canara Bank has provided loans worth Rs 37,016 crore until March 2013 to micro, small and medium enterprises, said bank’s top functionary RK Dubey.
“The bank also covered 73083 accounts with an exposure of Rs 2528 crore as on March 2013 under the credit guarantee scheme of credit guarantee fund trust for micro and small enterprises,” said Chairman and Managing Director, RK Dubey, speaking at the 11th annual general meeting of the shareholders here.
As part of its initiative to promote artisans the bank is running a programme called Artisan Credit Card Scheme to provide them with need based financial support. So far the bank has reached out to 590 artisans.
Further, it has already covered 1524 entrepreneurs under the Laghu Udyami Credit Card involving an amount of Rs 37 crore.
“Besides formulating six area/cluster specific schemes for exclusive lending under MSME sector, the bank has also effected substantial reduction in interest rates varying from 0.25 per cent to 2.50 per cent and also reduced interest rate by 0.25 per cent for loans up to Rs 100 lakh covered under the CGTMSE scheme,” he said.
The bank has also taken up simultaneous entrepreneurship programmes for women.
“Women entrepreneurs are offered loans upto Rs 5 lakh at base rate and also interest concession is available for all other loans availed by them. The bank has also entered into MoU with brickworks, CARE, CRISIL, ICRA and SMERA for rating of MSME units,” he said.
In addition, the bank is taking all measures to train women entrepreneurs both at its head office and all 34 circle offices. The bank started a rural self-employment training institute at Harohalli in Kanakpura , Bangalore to raise entrepreneurial skills among the women.
So far 17.76 lakh women have been assisted to the tune of Rs 31340 crore.
Moreover, “In order to encourage entrepreneurship and reward successful women entrepreneurs the bank has launched an annual award scheme for successful women entrepreneurs financed by the bank with three cash awards of Rs 25,000, Rs 50,000 and Rs 1,00,000. To give focussed attention to the needs of women clientele, the bank is dedicating 10 all women employee branches,” he said. (KNN/SK/ES)
“The bank also covered 73083 accounts with an exposure of Rs 2528 crore as on March 2013 under the credit guarantee scheme of credit guarantee fund trust for micro and small enterprises,” said Chairman and Managing Director, RK Dubey, speaking at the 11th annual general meeting of the shareholders here.
As part of its initiative to promote artisans the bank is running a programme called Artisan Credit Card Scheme to provide them with need based financial support. So far the bank has reached out to 590 artisans.
Further, it has already covered 1524 entrepreneurs under the Laghu Udyami Credit Card involving an amount of Rs 37 crore.
“Besides formulating six area/cluster specific schemes for exclusive lending under MSME sector, the bank has also effected substantial reduction in interest rates varying from 0.25 per cent to 2.50 per cent and also reduced interest rate by 0.25 per cent for loans up to Rs 100 lakh covered under the CGTMSE scheme,” he said.
The bank has also taken up simultaneous entrepreneurship programmes for women.
“Women entrepreneurs are offered loans upto Rs 5 lakh at base rate and also interest concession is available for all other loans availed by them. The bank has also entered into MoU with brickworks, CARE, CRISIL, ICRA and SMERA for rating of MSME units,” he said.
In addition, the bank is taking all measures to train women entrepreneurs both at its head office and all 34 circle offices. The bank started a rural self-employment training institute at Harohalli in Kanakpura , Bangalore to raise entrepreneurial skills among the women.
So far 17.76 lakh women have been assisted to the tune of Rs 31340 crore.
Moreover, “In order to encourage entrepreneurship and reward successful women entrepreneurs the bank has launched an annual award scheme for successful women entrepreneurs financed by the bank with three cash awards of Rs 25,000, Rs 50,000 and Rs 1,00,000. To give focussed attention to the needs of women clientele, the bank is dedicating 10 all women employee branches,” he said. (KNN/SK/ES)
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