What's New?

Pursuing Entrepreneurial Pursuits Ms Poongodhai is the beneficiary under STAND UP INDIA loan scheme of Rs.10.50 lakh. She has been given loan for setting up of Optometric clinic with vision therapy as she is a low vision therapist as well as OPTICAL GALLERY at Ashok Nagar Chennai. The loan has been sanctioned by PNB, Anna Nagar Branch, Chennai. The account is regular. Gaining experience from her father in law, the promoter has become a specialist in low vision therapy and is happy that she is able to STAND ALONE as an optometrist. There is an OPTICAL GALLERY along with her OPTOMETRIC CLINIC which has sheet magnifiers, hand magnifiers, telescope, illuminated magnifiers, scanner – all to improve the vision and correct the vision through these magnifiers and therapy. The promoter has seen the website and learnt about the Anna Nagar branch extending STAND UP INDIA scheme and approached directly. According to the promoter, she never dreamt of getting the loan sanctioned in shortest time and is very happy and able to earn Rs.1 lakh per month from the Optical Gallery cum Optometric Clinic, which has vision therapy—as a low vision specialist the promoter has utmost satisfaction of serving the society As the Bank is empowering the women by various schemes, the promoter is fully committed to the Bank to repay the dues promptly and thereafter she can even demand further finance when she goes for further expansion-- the full satisfaction of being SELF EMPLOYED AND SELF DEPENDANT.

Transforming Lives Loan for the new entrepreneur and especially where the woman is the Proprietor was the biggest challenge. The customer had applied directly under the ‘STAND UP INDIA’ through IDBI Bank, Bhavnagar Branch. The enterprise is manufacturing of PSC Cement Poles (Use for Electric Line Erection). The customer had applied for all kinds of Statutory Registration and made the production unit efficient, well equipped and well Advanced were the major challenges faced. The challenges were overcome successfully from Term Loan from Banker. The customer has applied for CLCSS Subsidy which is under process. The enterprise has employed many skilled & unskilled labor along with Clerical & Supervising staff will get the direct employment and many raw material supplier and Transporters will get the indirect employment. Within two and half month of manufacturing, the unit has registered a turnover of Rs.38.68 lakh and also got approved from the Govt. of Gujarat and also studying the demand of Cement articles. The customer has applied for quality certificate (ISO: 9001) for its product.

Facilitating shift from Hand to Tech Mrs. Samin Yasim, aged about 23 years from Minority Community, a new women entrepreneur approached the Bank for setting up a unit where computerized embroidery machines can be installed. Before the installation of Computerized Embroidery Machines, she was doing embroidery by hand and not able to get sufficient income (due to time taken for embroidery work). She did not have sufficient capital to buy the computerized embroidery machines and approached the bank for the finance on the basis of information collected through visual media. Though starting up a new venture invites many hardships which was lessened by availing a term loan and overdraft under the government’s new scheme Stand Up India though Dena Bank. The bank supported the Greenfield venture by sanctioning loan on the basis of the experience of the promoters. As Varanasi is known for its Banarasi saree worldwide, setting up such unit would enable the entrepreneur to excel well in this field. The automatic embroidery machines purchased out of the bank finance would enable the raw saree/ textile material to have the desired embroidery done on it; after which final saree is ready to supply. Promoter contribution is through its own sources. Employments are generated directly to the skilled and unskilled laborer. The unit has employed ample of unskilled as well as skilled laborers. The unit is getting regular orders from the different manufacturers for the embroidery on sarees. The unit has targeted to achieve a net profit of 1.69 lakh and sales of 31.20 lakh in the six month, after its establishment. The entrepreneur get’s the orders as job works. The ready material is marketed locally and it is planned to supply it to other parts of the state and country.

Homemaker Turns Entrepreneur Mrs. Manasi Devi, a small businesswoman in Dhubri town thought of starting a new business. The idea was quite new to the market and could fetch her better income. Keeping that point of view, she, with the help of her family savings, set up a factory for steel fabrication and manufacturing of steel products. Under the Stand up India scheme, the Bank financed Mrs. Devi Rs 15 lakh (Rs 13 lakh as working capital and Rs 2 lakh as for purchase of machinery). It helped her to set up “STEEL POINT” at prime location of Dhubri Town giving direct employment to 15 people at a time. Presently the turnover of the store is around 5000/- to 7000/- per day with approx 3-4 work order per day. She has also started receiving enquiries/ work order from various govt. organizations, schools etc. She has also started engaging labour for manufacturing of steel products as per order in the work site. With her hard work and good marketing skills she is poised to grow. Stand up India has helped her to take a leap in following her dreams of expanding her business and providing employment to other people. She has plan to go for quality certificates.

Go Online Go Digital Mrs. Saee Kaustubh Hastak established a new unit by the name M/s Shubhavi Enterprises for conducting all types of Compititive Examinations which are nowadays being conducted through Online Mode. She approached the Bank for Financial Assistance for Setting up of online examination centre at Aurangabad. The Bank suggested to apply under Stand Up India Scheme & she readily accepted the same. This would be the first such Centre in Aurangabad ,engaged in Online Examinations. At one instance approximately 150 Students can appear for the Examination. Aurangabad is main center in Marathwada Region hence candidates from whole Marathwada region are expected to come to Aurangabad for attending the Compititive Examinations. The location of the Business is at Satara Parisar which is newly developing Area & also there are 2 / 3 Colleges surrounding the Location of Business. Thus a new & innovative set up was supported by SME Centre Aurangabad thereby fulfilling the dream project of our Hon’ble Prime Minister.

Setting Example A partnership firm M/s Adaa Creation was constituted in October 2016 by two ladies Mrs Bhumika Agarwal and Mrs Himani Sijwali who decided to run a showroom for ladies’ wear by engaging professional tailors. For this purpose, they have taken premises on lease at prime locality within Walkway Mall on Nainital Road, Haldwani. The partners contacted OBC and submitted their proposal for credit facility. The appraisal team convinced by the entrepreneurial skills of the partners from the conversation and considering the fact that the partners have invested on furniture and fixture at the showroom from their own sources, credit facility of Rs.12.00 lakh was sanctioned under Stand Up India scheme. Further post demonetization need of POS machine was felt by the firm to provide the additional facility to customers for making payments through digital channel, the bank provided the same at the outlet which also proved quite helpful to boost the sales of the firm. Despite being a new venture, the firm is doing very well which could be vouched from the fact that total 102 credit transactions amounting to Rs.21.16 Lac was recorded for the period Nov-2016 to Jan-2017. The firm has given employment to 8 persons. Both the partners are thankful to bank for its timely, quick and smooth credit delivery as well as installation of POS Machine.

Passion of Being an Entrepreneur Mrs. Sheeba Sebi and Mrs. Mercy Varughese had very high dreams and desire to succeed. Though they are from a middle class family, they wanted to improve the economic condition of their families and also contribute to the growth of the society. They took up the challenge to realize their dreams and learnt tailoring which was done on job work basis. Due to lack of financial support and other financial commitments, they could not be an entrepreneur. Also due to the lack of Banking Knowledge, they were unable to approach Banks for financial assistance. Incidentally, both the entrepreneurs had come to Canara Bank, Adajan Branch during Stand-up India campaign and expressed their desire for purchasing of moulding machine and starting a partnership firm for manufacturing Textiles and Dye business in the name of M/s Subham Textiles and Dye. The branch assisted them by financing under Stand-Up India Scheme within a very short period. The borrowers are now running the unit successfully and have become financially independent. Now, the unit is also providing employment to more than 10 employees. The Borrowers also recall the good gesture of Bank which has now transformed their life.