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Business EconomyPosted at: Apr 2 2018 4:02PM


TIHCL launched

Hyderabad, Apr 2 (UNI) Telangana Industrial Health Clinic Limited (TIHCL), a co-financing Non-Banking Finance Company (NBFC), to provide financial support to sick Micro and Small Medium Enterprises (MSME) units, was launched here on Monday.
It is the first-of-its kind in the country.
TIHCL is promoted by the Telangana Government with 10 per cent of the capital of Rs 100 crore. About 5 per cent of the capital comes from micro and small enterprises which seek its facilitation and services. Banks, financial institutions and high networth individuals are expected to contribute the rest of the capital.
Speaking on the occasion as a Chief guest, Telangana Principal Secretary I&C, IT, Jayesh Ranjan said that this was the brain child of Industry Minister K T Rama Rao. “ It is a very rare opportunity to create role model institution not only in the country but also in the world. With this efforts may be able to revive more than 60 per cent of the industries (MSMEs) in the state by providing financial, market and other supports”, he said and thanked all the stockholders for making the institution a successful one.
Speaking on the occasion, its Chief Executive Officer, Sanjaya Maruvada, said that this was the latest institutional innovation especially meant for MSME. From the RBI prospective , the TIHCLwas regulated entity. It was a kind of non-banking finance company registered with the RBI. “We are looking more partners to reach our financial inclusion goal and lending to MSME.” he said.
Talking to newsmen on the sidelines of the programme, Mr Sanjaya said before launching it we have been engaged with 54 micro and small sick units. Of them 30 units prolems including 23 weaving units from Siricilla has been solved.
There were 7,000 sick units in Telangana as per State Level Bankers’ Committee (SLBC) data.” If we can revive at least 100 units in the next one to two years, it will be a very fruitful endeavour,’’ he added.
B Yerram Raju, Economist and Advisor, RBI Regional Director R Subramanian, SBI Telangana Circle Chief General Manager and SLBC president J Swaminathan and among others also spoke on the occasion.
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