NITTE-KBL MSME Conclave inaugurated, business achievers awarded

Mangaluru: The city’s premier educational institution, NITTE Deemed to be University, along with leading public sector bank Karnataka Bank Ltd., organised a conclave for MSME Business Entities with the objective to identify and address issues that are creating hurdles in the growth of MSMEs and help them conduct business more effectively. The event was inaugurated at Hotel Ocean Pearl on Saturday, November 3.

The event was inaugurated by MD and CEO of Karnataka Bank Ltd. Mahabaleshwara M S, in the presence of Vishal Hegde, Pro-Chancellor, NITTE Deemed to be University, Suresh K Rao, Chief General Manager, MRPL, and Dr Sreekanth A K, Managing Director DXC Technologies, Bengaluru.

In his inaugural address, Mahabaleshwara M S said, “We are in the festival season. Deepavali has already started and the message is ‘let us stop polluting nature and start promoting it’. During this Deepavali, all of us assembeled here must stop polluting nature by bursting crakers and start lighting the earthen lamps, start planting saplings and start donating the amount otherwise meant for spending on crackers to the needy. It will be the best way to celebrate this Deepavali.”

“Today NITTE and KBL, two great organisations have come together to host this event. One represents Education- Goddes Saraswathi, and the other respresents Financial Instituitons- Goddes Laxmi. For MSME’s to grow and prosper, both knowledge and capital are essential. One can’t become a succesful entrepreuner if he has only knowledge or capital, both are needed and Karnataka Bank Limited is at the forefront to always support these MSME’s,” he said.

Speaking about the recent developments in the economy, he said, “Yesterday, the PM launched an MSME support and outreach programme. The uniqueness of this programme is that it is supported by technology and the theme of the day is also technology. A credit sanction to any MSME, upto to 1 crore, will be given within 59 minutes. This is definitely a welcomed move. Across the globe, MSMEs are treated as the engine of economic growth. In India alone, 45 percent of the manufacturing output is contributed by the MSME units. This reflects the enormous potential we have in India to contribute to the economic growth of the country. From this angle, we can realise the importance and significance of MSME units.”

About MSMEs role, he said that they create a lot of employment opportunities and can help solve the imbalance in population betweeen cities, rural and semi urban areas. “It is the combined responsibility of all the business managers, facilitators, regulators, financial institutions and apex bodies of the MSMEs to extend a helping hand. Financial support is important. There are institutions, including the government, that provides financial support. The banking sector has also realised that this sector deserves continuous attention and support. Keeping this in mind, the Karnataka Bank is building a different business platform called ‘BRE’ (business rule engine) to help make the credit decision process faster. With this, a credit decision for an MSME can be given in 20 minutes,” he said.

In conclusion, he applauded NITTE deemed to be university for emphasising on the utilisation of technology to the centre of the seminars, as a problem-solving approach. He then appealed to the people to make use of the credit facilities and maintain financial discipline by paying back the loans with interest. He then wished the conclave success.

Vishal Hegde, Pro-Chancellor, Nitte Deemed to be University, Suresh K Rao, Chief General Manager, MRPL, Dr Sreekanth A K, Managing Director DXC Technologies, Bengaluru also shared their views during the event.

The full-day event will have eminent speakers and industry experts conducting various sessions. There will be a Business Award presentation ceremony at the end of the event. There are 250 MSME entrepreneurs and industry delegates from different parts of the country (especially Karnataka) participating in the event.

Justice K S Hegde Institute of Management Director Dr K Sankaran welcomed the gathering and Dr A P Achar, Dean Corporate Programmes gave a briefing about the event.