Saturday, December 10, 2022

NIIE Business Summit highlights financial schemes/initiatives for entrepreneurs

The third session of the National Integrate, Innovate and Expand (NIIE) Business Summit discussed on the financial schemes/initiatives available for entrepreneurs, how financing can be made easier for entrepreneurs, current problems and possible solutions.
NIIE Business Summit organised by Business Association of Nagas (BAN) and supported by Union Ministry of MSME began on November 4. The third session was held Saturday morning at administrative block of NER Agri Expo.
According to a DIPR report, the third session which was based on “business financing” also highlighted the business financing of Nagaland with its numerous potentials, young population, and high literacy rate that have vast scope for SMEs to establish and grow.
The third session panelists were – DGM SME Business Unit, SBI, LHO, Guwahati, Samir Kumar Jha; chairman, Nagaland Rural Bank, V.V. Narayana; commissioner & secretary, Law & Justice & Finance, Taliremba; general manager, NABARD, Tiakala Ao; branch manager, NEDFi, K Jianthailung and Br. Manager, ICICI Bank, Assi Gogoi.
During the sessions, it was observed that one of the crucial inputs for businesses to grow and prosper was the timely availability of finance at reasonable terms. Post-covid, PM Modi’s “vocal for local” initiative and banks and financial institutions’ schemes have been the source to help build small businesses. The proficient and compelling arrangements by the financial players keeping in mind local factors are crucial to foster economic development.
Earlier, in a welcome remark, former DGM State Bank of India and chairman, Nagaland Rural Bank CEO, of BAN Thrift and Credit Cooperative Society Ltd., Sashi Pongener said BAN was actively engaged and committed to encouraging and supporting Naga entrepreneurs, especially the young entrepreneurs.
He also noted that one of the first joint stock companies to be set up in British India was in the north eastern state of Assam with headquarter based in London. Pongener said the industries set by the British grew, expanded, and gave employment opportunities to many. “Their success can only be attributed to their sheer determination, perseverance, proper planning, and disciplined approach,” he said. Pongener then reminded the gathering that today the people have so many opportunities, options, and possibilities at their disposal.
The moderator was BAN president and managing director, Symbios Creations Pvt. Ltd., L Mongkum Jamir.

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