PUNE: Bank of Maharashtra, Goa Zone holds massive MSME outreach programme; Creates a dedicated cell for E – discounting of Trade Receivables of MSMEs on TReDS platform at Panjim Branch. Goa Zone conducted a massive “MSME outreach programme” at Hotel Taj Vivanta, Panaji, to connect with MSME and other business bodies at a time when the sector is witnessing a difficult time with the slowdown of business activities on account of the COVID-19 pandemic.
The programme was inaugurated by Dr. Pramod Sawant, Hon’ble Chief Minister of Goa State in the presence of Mr. Hemant Tamta, Executive Director and Ms. Narmada S Sawant, Zonal Manager, Goa Zone of Bank of Maharashtra.
In his inaugural address, the Hon’ble Chief Minister emphasized the role of MSMEs in the economic development of Country. Expressing concerns over the delay in realization of receivables to MSMEs in the face of COVID 19 pandemic, he hailed the Bank of Maharashtra in organizing such a game-changing endeavour to educate the MSMEs to reap the benefits from the plethora of measures initiated by Govt. of India, Reserve Bank of India and Bank of Maharashtra. He also conveyed his appreciations to Bank of Maharashtra over its good intervention to resolve the issue of delayed realization of payments of Contractors and Vendors of Goa Government by discounting their bills under Trade receivables electronic discounting system (TReDS).
Addressing the participants of the programme, Mr Hemant Tamta, Executive Director of Bank of Maharashtra outlined the contribution of MSMEs in the economic development of the nation, describing the MSME sector as the backbone of the economy. He deliberated on the special initiatives of the Government of India and Bank of Maharashtra for handholding and strengthening the MSMEs. Providing adequate and timely credit flow to MSME sector has always been an area of priority for Bank of Maharashtra, he added.
In order to have direct communication with MSMEs and assuring them continued support of Bank, this outreach programme is organized, he said. To provide support to the MSME sector and resolve their problem of delayed realization of receivables, Mr Hemant Tamta inaugurated a dedicated cell at their Panjim branch for discounting the “Trade Receivables of MSMEs” on TReDS platform. The Bank has also made arrangements for providing technical support to MSMEs for using this platform for discounting of their Trade receivables.
The well-attended Programme ended with the vote of thanks proposed by Mr Anand Shankar, Deputy Zonal Manager of Goa Zone.