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Madurai, June 5

Majority of small and medium enterprises (SMEs) face lot of constraints and feel the heat of increasing competition. Being an important sector in the economy in terms of its contribution to exports and employment, they need to be run on a sustainable basis and the banks have a responsibility to facilitate the same, said Mr P. Subramonian, Assistant General Manager, State Bank of Travancore, here on Thursday. Inaugurating a seminar on ‘Cluster financing and an awarene ss programme on Rajiv Gandhi Udhayami Mithra Yojana’ (RGUMY), organised by the Madurai District Tiny and Small Scale Industries Association jointly with Rubber Park (Madurai) Ltd and State Bank of Travancore (SBT), he said that SMEs need to adopt a cluster approach as it brought in lot of benefits in terms of costs, logistics, time and so on. Mr R. Chinnasamy, Resource Person, SBT, said the initiative aimed at handholding of SMEs in their operations, especially the first generation entrepreneurs in successfully establishing their units.

— Our Correspondent

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