SMEs are a true manifestation of creative entrepreneurship: Rana Kapoor

New Delhi, Mar 21 (KNN) YES Bank chief Rana Kapoor has been conferred the SKOCH Award for SME Enablement at the 43rd Skoch Summit focused on the theme '25 Years of Indian Reforms'.

The Award was presented by M. Venkaiah Naidu, Union Minister, Urban Development, Housing & Urban Poverty Alleviation.

On this special occasion Union Minister of Finance, Arun Jaitley also conferred the ‘SKOCH Challenger Lifetime Achievement Award’ to M. Venkiah Naidu.

The Summit, presided by Jaitley, witnessed participation from several senior Ministers, including Suresh Prabhu, Minister of Railways; Rajiv Pratap Rudy, Minister for Skill Development and Entrepreneurship & Parliamentary Affairs; Kamineni Srinivas, Minister of Health, Andhra Pradesh, \K.T. Rama Rao, Minister of IT, Telangana, amongst others.

On receiving the prestigious recognition Kapoor, MD & CEO, YES Bank said, “I have always believed that the SME Sector is the backbone of the Indian Economy, not just because they create granular employment by reducing poverty and creating balanced regional growth, but also more importantly, SMEs are a true manifestation of Creative Entrepreneurship. We have the golden chance to rejuvenate our SME sector which will have a cascading effect on India’s growth story. YES Bank recognizes the true potential of the sector and the achievements of Entrepreneurs and Entrepreneur-led Companies.”

Speaking at the event, Naidu, Hsaid, “The motto of this Government is to reform, perform and transform. The Government is working towards poverty alleviation, ending illiteracy and urban-rural divide, rooting out corruption and fighting social evils. The Real Estate (Regulation and Development) Bill, 2013, and the ‘Housing for All by 2022’ program for the rehabilitation of slum-dwellers and promotion of affordable housing for the urban poor will make people’s life more comfortable. ‘Housing for All’ will be a reality by 2022.”  

Jaitley said, “As the economy grows faster, people get more jobs, wealth is generated, people are pulled out of poverty lines and then a resource-full state is able to generate a lot of anti-poverty programs. If we continue to follow the reforms path, we will be able to write a new chapter in history.”