Wednesday, February 8, 2023
News

Odisha signs MoU with BSE, NSE to promote local MSMEs to access capital Markets

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Bhubaneswar (Odisha) | December 2, 2022 2:30:53 AM IST
Odisha on Thursday signed an MoU with BSE -NSE to promote local MSMEs.

In order to enable MSMEs to access capital markets, the State signed MOUs with BSE Ltd and NSE Ltd for facilitating the listing of MSMEs from Odisha under the aegis of the MOU, BSE and NSE shall provide handholding to MSME to impart training and education required for listing and improving financial credibility.

The MoU was signed at the Make in Odisha Conclave 2022 where a Business Leadership Talk was organised by Finance Department on Emerging Solutions for Financing Industries and Infrastructure.

The session was attended by S S Mundra, Chairman BSE, Ramann, CMD, SIDBI, Mahadeo Jaiswal, Director IIM Sambalpur, Moazzam Mekan from International Finance Corporation, The World Bank, Rachana Bhusari, VP-NSE and PR Jaishankar, MD, IIFCL. The session was moderated by Vishal Dev Principal Secretary Finance Department, Government of Odisha.

The session dealt with two sub-themes, one focusing on financing MSME and the other on infrastructure.

During the session, a few progressive and forward-looking initiatives were announced including, the launching of electronic Bank guarantees in collaboration with National EGovernance Services Ltd. (NESL).

MR Mundra citing the benefits of listing in capital markets suggested to the state to prepare a list of 10-15 MSMEs which could aspire for listing and the government can hold seed equity in these through a dedicated corpus till they mature.

Bhusari from NSE assured her support for the listing of state MSMEs on the NSE Emerge platform.

Gulshan Malik, Dy Managing Director from SBI appreciated the projects announced by the State and assured all support for industrial growth. SBI also signed an MOU for financing start-ups and MSMEs of Odisha.

Ramann, CMD SIDBI spoke about their commitment to creating a Corpus for guaranteeing loans to MSMEs in Odisha which could be supplemented by the State to further enhance the quantum of guarantee. SIDBI would like to partner with the State for onboarding and facilitating digital funding support to MSMEs.

On Infrastructure financing, PR Jaishankar, MD, IIFCL spoke about the relay and refinancing of debt and suggested the state to take up a Hybrid annuity model for financing its infrastructure. Complementing the discussion Mr Moazzam Mekan, from International Finance Corporation, suggested the State to upscale the PPP portfolio through creating a project pipeline, and incentivising projects through VGF support.

Professor Mahadeo Jaiswal, Director IIM Sambalpur highlighted the need of skills and trained manpower for the promotion of MSME. IIM Sambalpur has already taken up a pilot program to upgrade the marketing and financial service skills in the weavers' cluster of western Odisha.

The State shall take forward all the concrete suggestions given by various speakers to strengthen the MSME eco-system, particularly ensuring timely and adequate finance availability to MSMEs in the State. For infrastructure financing, State shall explore new options for structuring PPPs, creating a corpus for VGF support and engaging with departments to create a pipeline of projects.

The session was attended by officials from Banks, FI, Industry Associations, Financial service providers, FinTech companies, Business Schools and Officials from Government Departments. (ANI)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
One killed in fire after cylinder explod...
Maharashtra: Belapur to Gateway of India...
'They mislead and lies just to get votes...
Mumbai: Two persons arrested in rape cas...
Being a Hindu, one should agree to Hindu...
37 women among 379 candidates in fray fo...
More...    
 
 Top Stories
"Rat climbed into my pants": Amitab... 
India under 'Operation Dost' deploy... 
Check out how ancient extreme clima... 
New way to rearrange store products... 
Pakistan: Unknown miscreants throw ... 
Pollution in national capital has g... 
5 fabulous places you can go around... 
In Tripura, Rajnath coins slogan fo...