Home » Business » Odisha Signs MOU With BSE & NSE To Promote Local MSMEs To Access Capital Markets

Odisha Signs MOU With BSE & NSE To Promote Local MSMEs To Access Capital Markets

Bhubaneswar:1/12/22: In the MIO Conclave’22, on day 1 a Business Leadership Talk was organised by Finance Department on Emerging Solutions for Financing Industries & Infrastructure. The session was attended by Mr S S Mundra, Chairman BSE, Mr Ramann, CMD, SIDBI, Mr. Mahadeo Jaiswal, Director IIM Sambalpur, Mr Moazzam Mekan from International Finance Corporation, The World Bank, Ms Rachana Bhusari, VP-NSE and Mr P R Jaishankar, MD, IIFCL. The session was moderated by Mr 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 few progressive and forward looking initiatives were announced including, launching of electronic Bank guarantees in collaboration with National E-Governance Services Ltd. (NESL). To enable MSMEs to access capital markets, the State signed MOUs with BSE Ltd & NSE Ltd for facilitating listing of MSMEs from Odisha. Under the aegis of the MOU, BSE & NSE shall provide handholding to MSME to impart trainings and education required for listing and improving financial credibility. 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 Govt can hold seed equity in these through a dedicated corpus till they mature. Ms Bhusari from NSE assured her support for listing of state MSMEs on NSE Emerge platform.

Mr 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.

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

On Infrastructure financing, Mr P R Jaishankar, MD, IIFCL spoke about relay and refinancing of debt and suggested the state to take up 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 incentivize projects through VGF support.

Professor Mahadeo Jaiswal, Director IIM Sambalpur highlighted the need of skills and trained manpower for promotion of MSME. IIM Sambalpur has already taken up a pilot program to upgrade the marketing and financial service skills in 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 MSME in the State. For infrastructure financing, State shall explore new options for structuring PPPs, creating corpus for VGF support and engage 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,

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

Check Also

Prime Minister launches E20 Fuel & flags off Green Mobility Rally

Bengaluru:6/2 /23: Prime Minister inaugurated India Energy Week (IEW) 2023 in Bengaluru, Karnataka, on 6th Feb 2023. Being held from 6th to 8th February, IEW is aimed to showcase India’s rising ...