Credit Guarantee Access for MSMEs: PHDCCI Kashmir participates in awareness program

Srinagar: The Kashmir team of the PHD Chamber of Commerce and Industry (PHDCCI) participated in an interactive awareness session organized by the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), in collaboration with Women’s World Banking, at Orchard Retreat, Srinagar. Accorning  to a statement issued to Ziraat Times, the event, held as part of CGTMSE’s 25th anniversary celebrations, aimed to promote awareness of credit guarantee schemes among micro, small, and medium enterprises (MSMEs) in the region.

Kirti Pratik Patil, Manager at CGTMSE, and Nirmala Vedula, Senior Relationship Manager at Women’s World Banking, led the session with comprehensive presentations on the workings and benefits of the CGTMSE scheme. Their inputs were followed by an engaging discussion with local bankers, entrepreneurs, and stakeholders, focusing on improving access to finance and capacity-building for small businesses.

The PHDCCI Kashmir delegation, led by Himayu Wani, Co-Chair of PHDCCI Kashmir, included Er. Bilal Ahmad Bhat, Bilal Kawoosa, CA Anil Sharma, Er. Owais Raja, Er. Fayaz Bhat, Er. Ruhaan Rafiq, Madeena Mir, Shabina Khan, Qaiser Mir, Syed Zainab, and Tabassum. The session provided an important platform to deliberate on operational hurdles, implementation challenges, and outreach strategies related to CGTMSE’s credit guarantee initiatives.

Speaking during the event, Himayu Wani emphasized the need to sensitize both entrepreneurs and banking professionals about the CGTMSE scheme. He lauded CGTMSE’s 25 years of service in facilitating financial inclusion for small businesses and advocated for intensified awareness efforts to increase the scheme’s utilization by first-generation and rural entrepreneurs.

The session successfully fostered collaborative dialogue among various stakeholders, addressing regional challenges in credit accessibility and highlighting pathways to improve financial support for MSMEs. PHDCCI reaffirmed its commitment to promoting entrepreneurship and economic development through strategic partnerships with institutions such as CGTMSE.