Money & Banking

Dena Bank to support SSIs in Mysuru

Anil Urs Bengaluru | Updated on January 24, 2018

Mysore industrialists greeting Ashwani Kumar, Chairman and Managing Director, Dena Bank.

Dena Bank has extended support to the Mysuru-based Small Scale Industries (SSIs).

Ashwani Kumar, Chairman and Managing Director, Dena Bank, had extensive discussions with the Mysore Industries’ Association (MIA) and the Mysore District Micro, Small and Medium Enterprises Association (MDMSMEA).

Suresh Kumar Jain, General Secretary, MIA, briefed Ashwani Kumar about the industrial scenario of Mysuru district and requested him to extend need-based financial support to SSIs. In particular, the credit-linked capital subsidy scheme of the Ministry of MSME should be made available to SSIs under the Small Industries Development Bank of India’s collateral-free loans.

There is ample opportunity for Dena Bank to extend services in the industrial sector as new industrial areas are developing rapidly in Kadakola and Nanjanagudu and The New Industrial Policy of the Karnataka government is more attractive for investors.

After hearing both MIA and MDMSMEA, Ashwani Kumar expressed his willingness to extend all support from Dena Bank to industrial establishments but he cautioned against diverting funds for other purposes and restricting utilisation of the funds for the allocated projects only.

Published on June 22, 2015

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