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Our Correspondent

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Madurai March 6 `Swift In Disposal Beyond Imagination' is the new avatar of the Small Industries Development Bank of India (SIDBI) and funds up to Rs 50 lakh are disposed within a week's time by the administration without recourse to an early legal processing.

The increase in the outstanding from Tamil Nadu region from Rs 890 crore to Rs 1,245 crore in a short span is reflective of the change that the organisation has undergone in its mindset in facilitating growth, observed Mr A.R. Muralidharan, General Manager, SIDBI, Chennai.

With credit guarantee scheme in place for small-scale industries, there is no need to fear funding the small units. More so, with the provision to be raised from 75 per cent to 80 per cent, Mr Muralidharan said while delivering the keynote address at the `One Day Awareness Programme on Cluster Intervention' organised by Madurai District Tiny and Small Scale Industries Association (Maditssia) in association with Small Industries Service Institute (SISI) and SIDBI, Chennai, here on Tuesday.

Cluster approach works

A sum of Rs 1.15 crore was disbursed recently for a powerloom cluster consisting of 28 units at Kancheepuram. Cluster formation is the right approach in creating a brand and to survive in the competitive scenario for the small-scale units, he added.

Speaking earlier, the Director of SISI, Mr S. Sivagnanam, said cluster approach has helped in saving costs for small units, while enhancing their competitiveness and collective capability in responding to big orders. They cannot work in isolation in the present global market scenario, he pointed out.

Mr K.R. Gnanasambandan, Chairman, Cluster Development, Maditssia, in his address said efforts are on to establish clusters in rubber, food, pharma, plastics and textiles in the region.

More Stories on : Financial Institutions | SSI | Tamil Nadu

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