+

MSMEs Minister Anbarasan urges banks and insurers to aid Cyclone-Hit SMEs

  • Industry News
  • Dec 15,23
According to a statement released by the state government, the minister also instructed insurance companies to promptly settle claims filed by businesses for damages to their machinery, raw materials, and finished products.
MSMEs Minister Anbarasan urges banks and insurers to aid Cyclone-Hit SMEs

State Minister for Micro, Small, and Medium Enterprises (MSMEs), TM Anbarasan, convened a meeting with banks and insurance companies to provide support to MSMEs affected by Cyclone Michaung.

During the morning session, Anbarasan urged banks to offer overdrafts and loan assistance to MSMEs. According to a statement released by the state government, the minister also instructed insurance companies to promptly settle claims filed by businesses for damages to their machinery, raw materials, and finished products.

In an effort to expedite claim applications, Minister Anbarasan recommended that insurance companies deploy assessors from other districts to fast-track the processing of claims for MSMEs in the cyclone-affected areas. The meeting saw the participation of key figures, including Archana Patnaik, Secretary of the MSME department, Nirmal Raj, Commissioner of Commerce, and other officials.

Source: DT Next

Related Stories

Auto & Auto Components
Atmanirbhar by Design: Route to India’s Manufacturing Renaissance

Atmanirbhar by Design: Route to India’s Manufacturing Renaissance

For the success of Viksit Bharat 2047, the capital-goods sector needs to grow by tenfold from present Rs 5.5 trillion to Rs 60 trillion within two decades. Yogesh Pandit, Director of Product Acceler..

Read more
Fabrication
AIFI, Bureau of Energy Efficiency partner to Promote Energy-Efficient Forging

AIFI, Bureau of Energy Efficiency partner to Promote Energy-Efficient Forging

Association of Indian Forging Industry (AIFI) and the Bureau of Energy Efficiency (BEE) will promote energy-efficient technologies in the forging sector, enabling MSMEs to access support for adoptin..

Read more
Automation & Robotics
MSMEs: Backbone or Bottleneck?

MSMEs: Backbone or Bottleneck?

Finance remains the most pressing of these challenges. As noted by the Lok Sabha Standing Committee on Finance, India’s MSMEs face a staggering credit gap of Rs 20–25 trillion.

Read more

Related Products

Hi There!

Now get regular updates from IPF Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Industrial News on Whatsapp! Enjoy

+91 84228 74016