SBM officials meet Mysuru industrialists

The bank has decided to offer special training to its officers on various industrial issues

Officials of the State Bank of Mysore (SBM) held discussions with industrialists of Mysuru over the weekend to discuss the current industrial environment in the district and decided to offer special training to the bank's officers on various industrial issues.

Officials led by Chief General Manager Sajeev Krishnan met the industrialists belonging to the Mysore Industries Association (MIA) on May 9 and took stock of the current status of industries, opportunities for starting new industries, and reasons for industries becoming sick or shutting shop.

Accepting a suggestion made by MIA General Secretary Suresh Kumar Jain, the Chief General Manager decided to offer training in various industrial development areas including those envisaged by state and central governments, schemes, timely financial assistance, and the resultant loss to the bank.

Krishnan said experts would be deputed from the head office to provide special technical and financial advice to industrialists.

Jain said, SBM was a leading bank in the state having an image of its own. However, industries were turning sick for inadequate or excess leveraging due to excessive finance made available to them. "This needed to be set right. The bank should think of organising programmes on issues like financial management, proper utilisation of loans, and management in association with the MIA," he added.

SBM General Manager Bangara Raju said, the bank had cordial relations with industrialists and was partnering in industrial development with them. Welcoming SBM officials holding interaction with industrialists, MIA President P Vishwanath said, it would help industrial development of the district.