In a first, Telengana Industrial Health Clinic gets green flag from Reserve Bank

Hyderabad, Jan 4 (KNN) In a first, Telengana Industrial Health Clinic, that aims to assist in rehabilitation of sick Micro, Small and Medium Enterprises (MSMEs), was given approval to operate as a non-banking finance company marking it as first of its kind co-financing NBFC in the country.

Dr. Yerram Raju, Economist and Advisor for the Telengana Industrial Health Clinic (TIHC) informed of the latest development.

Raju informed that with the Reserve Bank giving its approval to the clinic, it is set to become the first state sponsored NBFC in Telengana as well.

The State government will be adding 10 crore rupee towards equity for the venture.

Spelling out the roadmap, Raju informed that the clinic in its first phase will be focussing to resolve stress in the handloom and power loom sector.

The Clinic is set along the concept of offering four fold solutions to the MSMEs.

First window is to offer preliminary diagnosis; this service is going to be free for all the associated MSMEs as they too are investing in the formation of the clinic. The second window is to facilitate the SMEs in going to the equity market. For this purpose the TIHC is collaborating with the NSE and BSE. The third window is to provide rehabilitation and revival support to the MSMEs who are not functioning well.

The fourth window provides room for TIHC to collaborate with other national and international organizations for knowledge sharing, collaborative researches to help build sustainability in the long run.

(KNN/DA)