PHDCCI and CGTMSE hold ‘MSME Access to Finance’ event in Srinagar

Ziraat Times News Desk

Srinagar, May 21: The PHD Chamber of Commerce and Industry (PHDCCI), in collaboration with the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), on Wednesday organized an awareness session in Srinagar focusing on improving access to finance for micro, small and medium enterprises (MSMEs) in Kashmir.

The session, titled “CGTMSE – Strengthening MSME Access to Finance: The Role of CGTMSE”, was held at the Amar Singh Club and witnessed participation from banking officials, industrial stakeholders and business leaders from across the Kashmir Valley.

The programme was attended by Manish Sinha, A P Vicky Shaw, MSRK Murthy, Balbir Singh, Sunil S, Tariq and Himayu Wani, besides representatives of major banks and financial institutions.

Officials said the session focused on the operational framework, benefits and lending mechanisms under the CGTMSE scheme, which facilitates collateral-free loans for micro and small enterprises by providing guarantee cover to banks and financial institutions.

Experts during the programme highlighted that the scheme helps reduce lending risks for banks while improving credit flow to small businesses and entrepreneurs.

According to the organizers, the event was the first large-scale awareness session on CGTMSE conducted in the Kashmir region.

Speaking on the occasion, A P Vicky Shaw said MSMEs remained the backbone of the local economy and noted that access to finance, particularly for the tourism sector, had long been a challenge in the region.

“This session marks a new beginning in bridging that gap through awareness and collaboration,” he said.

Manish Sinha appreciated the initiative taken by PHDCCI Kashmir and the active participation of the banking sector, saying such awareness programmes were essential for ensuring that the benefits of CGTMSE reach deserving entrepreneurs.

A detailed presentation on the scheme was delivered by MSRK Murthy, followed by an interactive session during which queries raised by stakeholders and entrepreneurs were addressed.

The programme continued for over three hours and concluded with discussions on enhancing coordination among banks, industry stakeholders and financial institutions to strengthen credit support for MSMEs and encourage entrepreneurship-driven economic growth in Kashmir.

The vote of thanks was presented by Himayu Wani.