What is an MSME? Pahle India Foundation and YES Bank partner to provide the answer
Pahle India Foundation (PIF), in association with YES Bank, is organising a seminar on ‘Definition of MSMEs’, to be conducted in Seminar Hall 1 & 2, India International Centre, New Delhi on May 8, say media reports.
The objective of the seminar is to contribute to policy advancement in this important area, by marshalling the available expertise and experience.
Understanding the significant role of MSMEs in the growth and development of the country, the experts participating in the seminar will deliberate on the ongoing debate with regard to the definition of MSMEs, whether it should remain the same, or other parameters such as annual turnover or employment should be considered.
The seminar will include panellists Ram Mohan Mishra, AS & DC, Ministry of MSME (Chair), TK Arun, Editor, Times Group, and Anil Bhardwaj, Secretary-General, Federation of Indian Micro and Small & Medium Enterprises (FISME).
Pahle India Foundation (PIF) is a not-for-profit policy think tank, established in June 2013. The company is working towards becoming a credible, trustworthy, and neutral bridge between economic agents like firms, farmers, and professionals on the one hand, and policymakers on the other, and to contribute to bringing the three principal stakeholders, namely the government, the industry, and academia on the same page - a key condition for ensuring India’s success in global markets.
Last year, SIDBI partnered with Yes Bank to facilitate working capital for its MSME customers. According to the deal, Yes Bank will provide banking services, including working capital, to SIDBI customers at its 1100 branches across the country.
YES Bank’s group president (international and institutional banking) Arun Agarwal said, “SME advances comprised almost 22% of Yes Bank’s total advances of about Rs 2 trillion. Through this association with SIDBI, we want to expand our SME portfolio and reach out to more customers.”