Arun Kumar Yadav had joined SBI as PO in 1990 and handled various operational assignments including that of Regional Manger / Dy General Manager (zone), Forex Treasury/ Global /Currency operations/ Money market operations. Keen interest in MSME financing and NPA resolution. An avid reader, loves listening to Rabindra Sangeet and Punjabi Sufi songs.
BWDisrupt's team member interacts with Arun Kumar Yadav, Dy General Manager (Business & Operations), SBI and spoke to him
India has seen the explosion of entrepreneurship in last 2-3 years, how are nationalized banks helping entrepreneurship grow?Banks and financial institutions provide financial assistance for companies at all stages of the business lifecycle. Startup companies can avail a host of term loan or working capital or asset backed loans based on their requirements. Banks provide support to budding entrepreneurs through their entrepreneurship development programmes and extending financial help, if they are satisfied with the business model and its financial viability. The entrepreneurs can also approach banks for financial assistance under any of the government schemes.
What are various funding options available with startups under government schemes?The entrepreneurs can be assisted under various schemes viz, MUDRA, Standup India, CGTMSE, PMEGP, NULM etc. on very easy terms and with simplified processes. SIDBI also offers revolving Fund for Technology Innovation which provides financial assistance to MSMEs towards development, up scaling, demonstration and commercialization of innovative technology based projects.
Which schemes are you looking at with keen interest?We have launched various schemes for SME like e-smart SME (for e-commerce sellers), tie-ups with various online retailers and electronic dealer/vendor finance schemes are also our major focus. Additionally, we open to financing under cluster approach to promote and develop local skills.
SBI has started a tech incubator in Bangalore, please tell us more about that?
SBI Incube, a Tech Incubator is a dedicated branch for startups in Bengaluru. It is providing free professional advisory services to the entrepreneurs. The branch has empanelled professionals in various domains like CA, CS, Legal Advice, Forex related queries etc., to address the specific issues faced by startups and regular events are being conducted to facilitate interaction between startups and professionals. Thus, SBI Incube is a “one-stop shop” for entrepreneurs.
Entrepreneurship is now expanding to Tier-1 & Tier-2 markets, how are you helping those entrepreneurs who have the potential to grow?We grant financial assistance to technically qualified, trained and experienced entrepreneurs for setting up new viable industrial projects under “SBI Entrepreneur scheme”. Loans are provided to technocrats who are unable to meet the normal margin requirements under the liberalized scheme. Besides this, the schemes launched by the Government are being implemented, specially MUDRA and Stand Up India and we are witnessing a very good response from budding entrepreneurs to start and own their business enterprise in such markets.
How important is government role in expanding the entrepreneur eco-system in India. What steps do you think can be taken to encourage entrepreneurship further?Government’s role is very crucial in the expansion of entrepreneurship. Though Government has fulfilled its role on the policy front, still there is plenty of room for improvements in many domains of entrepreneurial ecosystem that include:
- Building and imbibing an entrepreneurship culture
- Nurturing entrepreneurship
- Educating and reaching out to entrepreneurs
- Creating more and more platforms facilitating communications among funding agencies and aspiring entrepreneurs and startups.
