Lucknow Zone Hosts Event to Promote Financial Inclusion and Growth in the SME Sector
LUCKNOW: On the occasion of World Entrepreneurship Day, the Lucknow Zone of Union Bank of India, in a collaborative effort with Laghu Udyog Bharati, organized a major event at the Union Bank of India campus in Gomti Nagar. The primary objective of the program was to inform entrepreneurs from the small and medium-sized enterprise (MSME) sector about the bank’s various schemes, products, and services, and to help them maximize the benefits of these banking facilities.
The event was presided over by Rajesh Kumar, Zonal Head of Union Bank of India, who highlighted the critical role of the MSME sector in his address. “Small and medium industries are the backbone of the country’s economy today,” he stated. “Over 34 lakh jobs have been created in the MSME sector since 2014. MSMEs contribute approximately 45% to India’s total exports and account for about 30% of the nation’s total GDP.” He reaffirmed the bank’s long-standing support for entrepreneurs and its commitment to encouraging them through various schemes and financial assistance in the future.
Extensive Dialogue and Product Showcase
During the program, the bank delivered a detailed presentation on its MSME product offerings, which included a wide range of loan schemes, working capital solutions, term loans, special provisions for startups, collateral-free loans, and specific schemes designed for women entrepreneurs. Bank officials also demonstrated how entrepreneurs could easily access these schemes through the bank’s digital platforms, emphasizing a commitment to streamlined and efficient processes.
The event saw the participation of senior dignitaries from Laghu Udyog Bharati, including State President Ravindra Singh, State Vice President Rita Mittal, and Lucknow Unit President Keshav Mathur, who attended as special guests. They commended Union Bank for the initiative, noting that it would directly benefit thousands of entrepreneurs affiliated with their organization. Numerous senior members of Laghu Udyog Bharati and new entrepreneurs also actively participated in the program.
Direct Interaction and Positive Feedback
The presence of Deputy General Managers Pradeep Kumar Awasthi and Pyare Lal, along with Lucknow North Region Head Markandey Yadav, Lucknow South Region Head Himanshu Mishra, and other senior officials from Union Bank, lent significant importance to the event. A key feature was the direct dialogue session between entrepreneurs and bank officials, where entrepreneurs candidly shared their challenges, and the bank officials provided on-the-spot solutions.
The event was widely considered a resounding success. Attending entrepreneurs expressed that such events are crucial for fostering better coordination between banks and industries, making access to financial assistance much easier. They believe this will not only help existing businesses grow but also empower new entrepreneurs to successfully launch and scale their ventures.
In conclusion, it was agreed that the partnership between Union Bank of India and Laghu Udyog Bharati is poised to strengthen further, providing a new direction and momentum to the state’s MSME sector.
