Mon. Jun 8th, 2020

MSME support and outreach program ‘UDAAN’ organized by Ramana Machines for hosiery industry

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Ludhiana, February 12, 2020: MSME support and outreach program ‘UDAAN’ was organized today for hosiery industry by Indian Overseas Bank in association with Ramana Machines at Guru Nanak Bhawan, Ludhiana.

Guest of honor for the occasion was Rohit Mehra – Additional Commissioner Income Tax Ludhiana. The program was organized to make the hosiery industry aware of schemes and incentives offered by the Government of India for the growth of industry especially MSME and how the banks can help in this regard. A special seminar was conducted by the International Business Coach and corporate trainer Sushil Arora who shared various business success stories and ideas to multiply business growth.

The seminar focused on various schemes offered by the government like MUDRA, Start up India, CGTMSE and through a government initiative of psb loans in 59 minutes by applying on its website and elaborated on the same. The key focus was to help the young entrepreneurs who are short of funds and don’t have any collateral to offer to banks for availing funds for business.

Parmesh Wassist (Roby) – Managing Director Ramana Machines said that, “Machinery installation is a very capital intensive business and requires long term funding and planning. Our seminar ‘UDAAN’ focuses on making funding and capital options available for young entrepreneurs without any collateral and we are explaining this through our 7 tools for business expansion. We are very thankful to Indian Overseas Bank for coming forward and taking this initiative to help the young entrepreneurs with bank funding and credit facilities and are thankful for their support. ”

Speaking on the occasion, J. Satyanarayana – General Manager Indian Overseas Bank Zonal Office said, Today we organized a very informative session for the hosiery industry to make them aware of the various bank funding options available through various government schemes to help the industry grow. We have more than 65 branches in Punjab and are eager to be on board to help the industrialists for their funding requirements and request more businessmen to avail these facilities. I, on behalf of IOB invite the industry to come forward and can get in touch with me and we assure the best possible support to everyone.”  

Sushil Arora – International Business Coach and corporate trainer said, “As business involves huge risk, I encourage and motivate the businessman and shared techniques to multiply their business and expand their horizon. I ask the entrepreneurs to widen their horizon and look for new markets like exports as India is going to be the engine of growth for global economy for next few decades, opportunity is ripe for taking.”


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