IndusInd Bank Celebrates MSME Day with ‘Level Up’ Knowledge Series

On June 27, 2024, International MSME Day, IndusInd Bank acknowledges the crucial role played by Micro, Small, and Medium Enterprises (MSMEs) in India’s economy. The company has launched a knowledge series called “Level Up,” focusing on MSMEs and highlighting various initiatives tailored to their needs.

This series features successful business owners and C-suite executives sharing insights on strategic planning, financial management, digital transformation, and market expansion. The aim is to equip MSMEs with practical strategies for sustainable growth in competitive markets.

IndusInd Bank stated that it is committed to strengthening the MSME sector by enhancing credit access, reducing operational costs, and ensuring business continuity. They have established 126 MSME Hubs across India, strategically located in key MSME activity areas, offering tailored banking experiences with quick loan approvals, customised products, and expert guidance. Digital transformation is a priority to expedite sanctions and disbursals in the MSME segment.

Additionally, the bank offers innovative products like GSTOD (Goods and Services Tax Overdraft) for registered MSMEs, providing instant funds up to ₹2 crore with minimal documentation using a one-time GST OTP. They also empower women entrepreneurs through the ‘IndusWE’ program, offering comprehensive support beyond banking services for their business growth. Furthermore, they provide collateral-free financing up to ₹5 crore under the CGTMSE scheme, enhancing credit accessibility.

IndusInd Bank continues to lead in sustainability with initiatives such as solar power financing to help MSMEs adopt sustainable energy solutions and reduce costs. Their ‘Loan Protect’ product ensures business continuity by safeguarding MSMEs against unexpected disruptions.

Commenting on this, the Head of Corporate, Commercial, Rural and Inclusive Banking at IndusInd Bank, Mr Sanjeev Anand, said, “India’s MSMEs are fundamental to the nation’s growth and serve as the backbone of the Indian economy. As our country strives for a $5 trillion GDP, MSMEs will be key in achieving this milestone, augmented by various government initiatives that are designed to enhance their competitiveness and growth. This MSME Day, IndusInd Bank recognises the contributions of MSMEs to India’s economy and remains steadfast in its effort to support their growth and success.”

On June 28, 2024, the share price of IndusInd Bank Ltd opened at ₹1,491.00, touching the day’s low at ₹1,478.35, as of 10:16 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.