CICU Ludhiana Organises Mega Event on “Modern Ways Of SME Finance”

Ludhiana, August 25, 2018: Chamber of Industrial and Commercial Undertakings (CICU), Ludhiana Organised mega event on “Modern ways of SME Finance” here. Speaking on the occasion, Upkar Singh Ahuja, President, CICU said the main objective to organize this event is to create awareness about the transparency of finance and modern ways of finance among SME and MSMEs. He also said that the Industrialists should take benefits of this event. Pankaj Sharma, General Secretary, CICU said that the banks are providing umbrella when rain on the SME and MSMEs by the giving them support of finance. He also said that the SME and MSMEs should adopt the modern technologies, Digitalization and other modern ways for surviving in this competitive era. Iqbal Singh Guliani, Zonal Head, HDFC Bank, Punjab along with his team informed about the HDFC Bank. He further said that the HDFC Bank has World Record holder to provide loans within 10 seconds. HDFC Banks gives quality of business, quality of revenue, benefits to the share holder. His teams also gave presentation about HDFC apps, digital marketing etc. Ajay Thakur, Head - BSE SME Exchange, Mumbai, gave awareness session on BSE SME Exchange. He also said the when the demonetization and GST implementation MSMEs faced a lots of problems, but MSME are very intelligent, they well know, how move forward. He also explained the benefit at raising equity, which is very important for SMEs to grow. He also replied to various questioners asked by member and cleared the apprehension of the potential customers. Saahil Kinkhabwala, Deputy Vice-President – Pantomath Capital Advisors (P) Ltd., Mumbai in his presentation informed that “our diversified team comprises professionals being CS, CA, MBA, CFA, Lawyer and others for providing a one-stop-shop offering integrated business, legal and financial solutions to varied sections of society including SMEs and large corporate enterprises”. CA Bhagat Singh, Sr. Vice-President (F & A), Oswal Woollen Mills Ltd., Ludhiana informed about the benefits of private equity. He further said that the SME and MSMEs need to invest in private equity. The private equity institutions are managed by the professionals and they advise one by sitting along with one’s chair. They guide about the machinery, which will grow one’s business instead of old machinery. Vinay Chatli, Assistant General Manager, State Bank of India, Ludhiana informed that the State Bank of India is a pioneer in SME financing in India. As a bank, it has been playing a critical role in the overall growth and development of the SME sector. He also said that the apart from a wide network of branches across the country, 1248 branches are specialized in SME lending. Single point contact through dedicated relationship managers have been put in place to ensure end to end solutions such as customer convenience, risk mitigation, technology based digital offerings, etc. The Event was sponsored by Pantomath Capital Advisors (P) Ltd., Mumbai, HDFC Bank, State Bank of India, Bajaj Finserv and BSE SME Exchange, Mumbai. The event was attended by more than 150 industrialists. H.S Pahwa, S.B Singh, Vinod Thapar, Charnjit Singh, Rajnish Bansal, Jagbir Singh Sokhi, Satinderjit Singh, Sushil Kaura, T.R Misra and other prominent members of the chamber were among those present.