Source: The Sangai Express
Imphal, January 18 2010:
A seminar on the Credit Guarantee Scheme, Credit Rating and North East Industrial and Investment Policy 2007 was organised by the All Manipur Entrepreneurs' Association under the sponsorship of the Development Commissioner (MSME), Govt of India, Credit Guarantee Fund Trust for Micro and Small Enterprises and Onicra Credit Rating Agency of India.
The inaugural session of the seminar was attended by Deputy Chairman of the State Planning Board Bijoy Koijam as chief guest, president of the All Manipur Entrepreneurs' Association S Rishikumar as functional president and Assistant Director Commerce and Industries V Tualthang as guest of honour.
Speaking at the occasion, Bijoy Koijam decried politicising the process of loan payment.
Rather than giving loans to the genuine entrepreneurs and helped them in rising their productivity, loans were given to many individuals who only made merry with the loan amounts.
This was one reason for the inability of loanees to repay loans.
Now, very few individuals are ready to act as guarantors for people seeking loans.
S Rishikumar said that better cooperation between entrepreneurs and banking institutions can ameliorate the economy of
the State.
For lack of perseverance and knowledge, many entrepreneurs of the State could not capitalise on the various schemes launched for them.
Today's seminar was aimed at generating awareness on such matters among entrepreneurs of the State, he added.