Indian Bank launches business mentoring programme to support MSMEs

'MSME Prerana' will train entrepreneurs in business skills, communication, credit assessment.

Finance Minister Nirmala Sitharaman on Tuesday launched in Chennai Indian Bank's mentoring programme that aims to support 1,500 entrepreneurs across India in small businesses.

Padmaja Chunduru, MD & CEO of Indian Bank, said 'MSME Prerana' gives inputs without jargon and in local languages. The objective is to equip entrepreneurs with business skills and communication. The programme will begin in Tamil for the Coimbatore clusters of Indian Bank and later spread across the country.

The programme will educate entrepreneurs about measures taken by the government, central bankers and lenders for MSMEs. Entrepreneurs will trained for due diligence, credit assessment, compliance, and risk mitigation. 

Indian Bank has supported 1.6 million MSME customers and it has an exposure of Rs 65,315 crore in the sector. It has given loans worth Rs 3,459 crore through the Mudra scheme.