Outreach Programme on Financial Literacy and Emerging Opportunities for MSMEs

29th August 2023: SIDBI, in association with Department of Industries and Commerce (DIC), Government of Karnataka and Karnataka Small Scale Industries Association (KASSIA) is organising an Outreach programme on “financial awareness and emerging opportunities for MSMEs”, a first of its kind event being organised in Karnataka. The programme is scheduled to cover all the 31 districts of Karnataka, in phases, between August 2023 – March 2024. The financial literacy programme is being organised with the primary objective of empowering MSMEs in Karnataka.

The event is being inaugurated on 30th August 2023 at Bengaluru, followed by events planned at Yadgir, Vijayapura and Kalaburgi during September 2023.

Shri Satyaki Rastogi, General Manager & Regional Head, while acknowledging the support of DIC and KASSIA on this important partnership for organising financial awareness event, highlighted that “the Central & State Governments as well as SIDBI are introducing various schemes, subsidies, incentives, initiatives, etc. for the benefit of MSMEs, but lack of awareness is a major impediment which contributes to the MSMEs missing out on many benefits available to them. The success lies in information dissemination about these initiatives at the grass root level, to ensure benefits reach the last mile. The program, therefore, seeks to achieve this by creating awareness and facilitating credit linkage, market exposure, as well as expanding their customer base through digital presence, etc. The theme of the event will be “Creating opportunities, bridging gaps; to embark MSMEs on the path to financial empowerment and lead them to prosperity through imparting financial knowledge”. Shri Rastogi also emphasised that through the event, SIDBI would seek to create impact in terms of bringing the MSMEs from informal sector into the organised framework through Udyam Registration, provide them a market exposure through digital presence and encourage them to get ZED certification to increase their competitiveness, etc.

Shri. Vijayamahantesh B Danammannavar, IAS, Director (MSME), Department of Industries and Commerce, GOK The outreach programme on Financial Literacy and emerging opportunities for MSMEs would definitely create an impact at the grass root level to strengthen the MSME Eco System. Department of Industries and Commerce, GOK singed a MOU with SIDBI to accelerate the development of MSME Eco System in Karnataka in a structured and planned manner. Under the MOU, SIDBI is acting as the MSME partner for the state of Karnataka by working on designing of schemes, suggesting modifications and improvements in schemes, enabling digital interventions for the benefit of MSMEs, infrastructure development in Karnataka and impact evaluation. I am sure that together, we can transform the MSME Eco system in Karnataka.

Shri. Shashidhar Shetty, President, KASSIA, appreciated the efforts of SIDBI and Department of Industries and Commerce for coming together to organise outreach programme on Financial Literacy to empower MSMEs across Karnataka. He emphasised that this is very important initiative to accelerate the development of MSME ecosystem in Karnataka. He also appreciated the fact that Central and State Governments are reaching out to the MSMEs and creating enabling environment for the growth of MSMEs. He assured to collaborate with and support SIDBI and Department of Industries and Commerce towards empowering MSMEs through various initiatives

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