Faridabad(Manoj bhardwaj).. The event was organized to make people aware about the working system of SIDBI under the aegis of Small Industries Development Bank of India and Faridabad Chamber of Commerce & Industry in which SIDBI General Manager Shri Mani Lal Choudhary, SIDBI, Gurugram R.O. was the chief guest.
The program was inaugurated by Chief Guest Shri Mani Lal Choudhary, SIDBI, Gurugram R.O. was welcomed! The guest was welcomed by Dr. HK Batra, President of Faridabad Chamber of Commerce , Rohit Rungta, General Secretary and Founder members of FCCI Sh. M.P.Rungta and PastPresidents Sh. T.C.Dhawan along with other Governing body members who were present in the meeting.
Chief guest Shri Mani Lal Choudhary, while giving detailed information about the working style of SIDBI, said that Small Industries Development Bank of India (SIDBI) is a major development financial institution of India. Its objective is to provide refinance facilities and short-term loans to industries. It serves as the apex financial institution for the micro, small and medium enterprises (MSME) sector. Giving information, he said that SIDBI also does the work of coordination of institutions engaged in industrial activities. SIDBI works under the Department of Financial Services of the Government of India.
The inaugural address was delivered by Satish Nema Ji-Deputy General Manager, SIDBI, Faridabad!
Sh. Dinesh Kumar- Joint Director(MSME).
CA Tarun Gupta (TAMS & CO. LLP) – explained in detail about MSME incentive schemes and also appreciated the Haryana Government. To create awareness and helps the industries by giving various MSME schemes.
CA Mohan Soni- Partner TAMS- Impact of ESG on MSME sector and also made us aware about social commitments.
Ajay Gupta -Investment Banker
Everyone was made aware about how we can move forward and also about ownership and team building by coordinating the work of the organizations engaged in development.
Yash Arora tells us about loan options and how effective these schemes are.
Atul Seksaria- Former Partner at E&Y and Mentor.
Share experiences with people on how we can move forward SIDBI works under the Department of Financial Services, Government of India.
The entire program was moderated by Mr. Rohit Rungta and Mr. Mayank Goyal.
SIDBI was established on 2 April 1990. Charter of its establishment SIDBI is envisaged in the Indian Small Industries Development Bank Act, 1989 for the promotion, financing and development of small scale industries and to coordinate the work of institutions engaged in the promotion, financing or development of small scale industries and It has been designated as the lead financial institution for matters relevant to this.
SIDBI is one of the four all-India financial institutions regulated and supervised by the Reserve Bank of India; The other three are Export-Import Bank, NABARD and National Housing Bank. Shri Singh said that through lending and refinancing operations activities, they play a supporting role in the financial markets and meet the long-term funding needs of the industrial sector.
Also, SIDBI, through SIDBI Foundation for Micro Credit, is active in the development of micro finance institutions and helps in providing microfinance through Micro Finance Institutions (MFIs). Its promotion and development program focuses on promotion of rural enterprises and entrepreneurship development.
Not only this, it operates a refinance program known as Institutional Finance Program to support and increase the supply of funds to the MSE sector. Under this programme, SIDBI provides term loan assistance to banks, small finance banks and non-banking financial companies. Apart from refinance operations, SIDBI also lends directly to MSMEs.
He was also told that the Government of India is the largest shareholder of SIDBI with 20.85% shares. This is followed by State Bank of India (15.65%) and Life Insurance Corporation of India (13.33%).
The President of the Chamber of Commerce, Shri Batra, while expressing his gratitude to the Chief Manager of SIDBI, said that FCI is fully committed to the welfare of its members. While addressing, he said that SIDBI has promised to all the respected members of Faridabad Commerce that whatever facilities it can provide as per the government rules, it will be provided to all the members.
Shri Batra said that in the coming future, Faridabad Chamber of Commerce will continue to provide information to its members by organizing similar joint events.
On the occasion of the program, Dr. CA Raj K Aggarwal presented the vote of thanks.
Following Members Presented at the event are Sh. M.P. Rungta, Sh. R.K. Goel, Sh. Surendar Kapoor, Sh. Jagat Madan, Sh. Sachin Madan,Sh. T.C.Dhawan, Sh. R.C. Khandelwal, Sh. Krishan Kaushik, Sh. Sri Ram Aggarwal, Sh. DineshSharma, Sh. Surendar Bohra, Sh. Deepankar Goel, Sh. Nirmal Mehendale, Sh. Pankaj Aggarwal, Sh. Sanjay Mittal, Sh. Rakesh Rathore, Sh. Vijay K Suneja, Sh. Balwinder Singh, Sh. Rohit Aggarwal, Sh. Kuldeep Sethi, Sh. Yogesh Gupta, Sh. O.P.Kamboj, Sh. Rajan Wadhwa.