Unsecured Credit to MSMEs up to 2 Crores Launched
Author(s): City Air NewsLudhiana, July 27, 2017: Today, Sh.Rajive Chawla, Chairman, IamSMEofIndia (Integrated Association of Micro, Small & Medium Enterprises of India) Inaugurated the one-day special camp for collateral-free credit limit...
Ludhiana, July 27, 2017: Today, Sh.Rajive Chawla, Chairman, IamSMEofIndia (Integrated Association of Micro, Small & Medium Enterprises of India) Inaugurated the one-day special camp for collateral-free credit limit upto Rs.2.0 crore for FICO Members.
FICO-IamSMEofIndia organized an Industrial camp to facilitate its members by providing collateral free credit limit upto Rs. 2.0 Crores To be Used for purchase of Raw Materials, Capital Goods, Machinery, Solar Power. At FICO Office B-XXI, 1856, Jaimal Road, Janta Nagar, Ludhiana.
In his speech Mr. Rajive Chawla elaborated that these types of camps are very useful for the manufacturers. This is the additional credit limit which we can use for the purchase of raw material, for purchase of machinery to upgrade our factories & technologies and we have to return this money within 90 days and again we can use this limit. Limit can be used anytime. The said credit limit is subjected to sanction is accordance to your credentials. In this critical time of Demonetization & GST, these kind of collateral free funding will act as oxygen to the industry. Beside that Mr. Chawla also elaborated that how we can use this money in aggregated buying which will make us eligible for bulk bargains, which can save a huge amount of Industry’s money. Mr. Chawla has also introduced the concept of “Order From Order For” for the business. The Team for 15 members of the banking experts were there with Mr. Chawla, they have gone through the documentations and the credentials of the members and will sanction the limitwithin 48 hours.
Amongst Present were Sh Rajive Chawla Chairman IamSMEofIndia, Sh. Gaurav Kumar Rai Vice President IamSMEofInida, S. Gurmeet Singh Kular President FICO & State Head IamSMEofIndia, Sh. Manjinder Singh Sachdeva General Secretary, Sh. Baldev Singh Amar Vice President, Sh. Satnam Singh Makkar Propaganda Secretary, Sh. Rajesh Mongia Executive Member, Sh. Dinesh Bhogal Organizing Secretary, Sh. Gurmukh Singh Rupal Sewing Machine Division Head FICO.