Money that we lend you is hard earned by your Collegue! Karnataka Bank Mg. Director MS Mahabaleshwara Rao.
By NV Paulose / Canute Pinto
Digital transformation can make MSME to improve their performance! Karnataka Bank has made a landmark achievement by reducing MSME loan processing time from 20 days to 20 minutes; said MS Mahabaleshwara Rao, Chairman of Karnataka Bank. He also advised the people to remember that the money that banks lend are not from their pocket. Money is hard-earned by your Colleagues and hence you should have a mind to repay the loan to the Bank. He was inaugurating Nitte KBL MSME Conclave 2018 at Hotel Ocean Pearl .
President of the function Vishal Hegde, Pro Chancellor of Nitte University applauded the speed in giving loans to fund entrepreneurs and their ideas. The change is promising. Recalling the past from the experience of Sri. Vinaya Hegde who had approached a Bank for an entrepreneurship loan; that was rejected saying the project report is handwritten. Luckily he coincided to meet the Chairman of the Bank on his way back from the Bank. Chairman brought him back and enquired with the Bank officials about the reason for rejection of the loan application. It was because of the application was handwritten and not typed. Bank Chairman intervened and said to call one of the many typists in the Bank to do the task. Typists are plenty and that should not be a reason for rejection of a loan application. The rest is history and the establishment flourished to give employment for many people from this region; said Vishal Hegde.
Banks should process proposals with genuine interest. Digital technologies can do a lot of help. Nitte KBL MSME Conclave is a beginning in this line. MSMEs in the program will get hand holding from experts in various streams through this initiatives; said Dr. AP Achar, Dean, JKSHIM. Corporate Training and Industrial Education interface is the initiative under the leadership of him supported by Dr. K. Sankaran, Director, JKSHIM.
Program at Hotel Ocean Pearl was Comprehended and presented by Prof. Sudhir Raj and team. MSME Awards were also presented in the meet.