Hyderabad: Indian Bank launches its flagship Business Mentoring Program ‘MSME Prerana’ in the state of Telangana. ‘MSME Prerana’ is a novel, unique and innovative business mentoring program, first of its kind to empower MSME Entrepreneurs. The program is launched in the vernacular language of the state – Telugu.
Indian Bank has always been a front runner in providing financial support to its 20 lakhs MSMEs with credit exposure of over Rs. 70,180 Cr. While Indian Bank is the 7th largest Public Sector Bank in the country, however, in the MSME segment Indian Bank is the second largest in terms of percentage growth (15%). ‘MSME Prerana’ has been launched with an aim to develop managerial and financial capabilities of MSME Entrepreneurs besides creating awareness on various initiatives taken by GOI / State Govts. / RBI and Other agencies.
The share of Telangana’s economy in the national GDP has gone up by 26 basis points to touch 5% in 2020-21 against 4.74% in 2019-20. Telangana State houses around 26.05 lakh MSME units, including around 25 lakh Micro Enterprises. The state has Rs. 66,507 crore credit facilities from formal banking channels. Around 8, 25, 197 units have availed around Rs 63, 251 crore financial support from commercial banks which is 95.10% of total credit extended to MSME Units in Telangana.
Indian Bank is very active in Telangana in MSME Segment. The Bank’s CD (Credit Deposit) ratio in the State is around 179% which is higher than commercial bank average of 110%.
The program christened MSME Prerana has been designed in collaboration with Poornatha and Co. to empower entrepreneurs in driving business more efficiently by optimizing value and capacity. This business mentoring program enhances the confidence & sense of empowerment, especially among women Entrepreneurs. MSME Prerana has broken the geographical and language barriers by extending web-based training to Entrepreneurs in local dialects using simple terminologies without using jargon. A series of 10 virtual programs have been successfully conducted in the state of Uttar Pradesh, Tamil Nadu, Pondicherry, and parts of Uttarakhand. ‘MSME Prerana’ is spreading its outreach to Andhra Pradesh and Gujarat during the month of July 2021 and will be conducted in all major languages pan India in a phased manner.