Essay competition for MSEs on financing
Updated: Nov 23, 2013 12:57:44pm
Pune, Nov 23 (KNN) In order to generate ideas for developing and improving access of micro and small enterprises to bank finance, the College of Agricultural Banking(CAB), Reserve Bank of India, is organising an essay competition here on the topic – “Ensuring adequate and timely credit to Micro and Small Enterprises (MSEs) by Banks – Identifying a success strategy”.
“We would like the staff members working at different units of various banks, retired bankers, entrepreneurs to contribute fresh ideas and thoughts through the competition on what should be the policy issues that need to be addressed by RBI, GOI and other authorities concerned in achieving the objective of inclusive growth,” CAB said in a notification.
While the date for participation is already closed for general public, the last date for submission of entries by MSE entrepreneurs has been extended to December 16.
“Only 5 per cent of the units (both registered and unregistered) avail the finance through institutional sources, while the remaining either seek finance from non-institutional sources or depended purely on self-finance thus adversely affecting their viability and scale of operations,” the notification added.
The objective of the competition is to stimulate innovative ideas for developing inroads for bank credits to the enormous MSE sector, of which only 5 per cent have today access to institutional finance.
The essay may be either in English or Hindi and should not be of more than 3,000 words. The essay can be broadly structured as introductory thoughts; strategy proposed and action required to be taken.
The cash prize would be starting from Rs 5,000 up to Rs 20,000 under different categories.
MSE sector employs more than 7 crore persons in over 3 crore enterprises throughout the country and is next only to agriculture in employment generation.
About 45 per cent of such enterprises are located in rural areas, thus offering a great potential for rural development and for reducing the strain on urban infrastructure. However, there are several challenges.
Almost 90 per cent of the MSEs are small and unregistered and established in the unorganized sector. They have lack of access to - modern technology; global markets, credit information about small enterprises; and they face constraints on modernization and expansion.
CAB is a training institute of the Reserve Bank of India. It aims towards capacity building in development of banking and finance in general and rural and cooperative banking in particular. (KNN/SD)
“We would like the staff members working at different units of various banks, retired bankers, entrepreneurs to contribute fresh ideas and thoughts through the competition on what should be the policy issues that need to be addressed by RBI, GOI and other authorities concerned in achieving the objective of inclusive growth,” CAB said in a notification.
While the date for participation is already closed for general public, the last date for submission of entries by MSE entrepreneurs has been extended to December 16.
“Only 5 per cent of the units (both registered and unregistered) avail the finance through institutional sources, while the remaining either seek finance from non-institutional sources or depended purely on self-finance thus adversely affecting their viability and scale of operations,” the notification added.
The objective of the competition is to stimulate innovative ideas for developing inroads for bank credits to the enormous MSE sector, of which only 5 per cent have today access to institutional finance.
The essay may be either in English or Hindi and should not be of more than 3,000 words. The essay can be broadly structured as introductory thoughts; strategy proposed and action required to be taken.
The cash prize would be starting from Rs 5,000 up to Rs 20,000 under different categories.
MSE sector employs more than 7 crore persons in over 3 crore enterprises throughout the country and is next only to agriculture in employment generation.
About 45 per cent of such enterprises are located in rural areas, thus offering a great potential for rural development and for reducing the strain on urban infrastructure. However, there are several challenges.
Almost 90 per cent of the MSEs are small and unregistered and established in the unorganized sector. They have lack of access to - modern technology; global markets, credit information about small enterprises; and they face constraints on modernization and expansion.
CAB is a training institute of the Reserve Bank of India. It aims towards capacity building in development of banking and finance in general and rural and cooperative banking in particular. (KNN/SD)
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