Bankers told to give loans to aspiring entrepreneurs

Gadwal: With an aim to uplift the industrial sector in Jogulamba Gadwal, District Collector Rajat Kumar Saini urged the bankers to provide loans to the enthusiastic entrepreneurs, particularly from SC and ST communities.

While taking part in an awareness seminar with the entrepreneurs and bankers at the Collector Meeting Hall in the district, the Collector said, “SC and ST communities in the district are industrially backward. The government is always trying its best to back these communities to develop industrially.

However, because of busy schedule of the bankers and lack of proper understanding between bankers and the entrepreneurs, not many banks are coming forward to extend loans to the upcoming entrepreneurs. In view of this, we wanted to give them a platform where the entrepreneurs and the bankers can interact together and understand each other’s needs and entrepreneurs also take this as an opportunity to convince the bankers and get financial funding.”

The Collector, while giving tips to the entrepreneurs, said the industrialists must clearly prepare a detailed project report as to what would be the total cost of their project, how much they were investing and how much amount they want as loan from the banks.

Not only that the Collector asked the entrepreneurs to be clear in their report about the sustainability of their project, he asked them to be clear about as to how much they would earn and what kind of employment they would generate.

“Most of the time the banks go back on funding because of lack of clarity on the part of the entrepreneurs. I hope this seminar will give them an idea as to how to approach the banks. At the same time, the bankers will also understand the needs of the industries and accordingly grant them loans,” observed Saini.

At present, the government was providing various schemes for the welfare of industrialists from the backward and weaker sections. The T-Wallet and various start-up programmes, in addition to providing land on subsidy, giving reimbursement on power bills and other benefits like Tax Holiday for five years were some of the encouraging initiatives given by the government to encourage entrepreneurs from the SC, ST and other backward communities.

The Collector asked the entrepreneurs to utilise these opportunities and set up industries in the district. As many as 28 small and big entrepreneurs and industrialists along with representatives of leading banks took part in the programme.