TIHCL keen on offering more services to MSEs

June 26, 2020 11:17 pm | Updated 11:17 pm IST - YDERABAD

Telangana Industrial Health Clinic Ltd (TIHCL), a State government initiative to address stress in micro and small manufacturing enterprises (MSEs), plans to emerge a one-stop solution for such enterprises, be it by way of providing guidance or coordinating with banks and financial institutions.

Banks dealing with high volumes of micro, small and medium enterprises’ loan accounts and other responsibilities may not always be able to devote adequate time for small and micro businesses. TIHCL intends to fill this gap, a release on Friday by the office of Minister K.T.Rama Rao on the clinic completing three years said.

Also, the TIHCL seeks to focus on making MSEs aware of the various indicators of incipient sickness, something critical in the present dynamic scenario.

In the three years, the TIHCL took steps for helping MSMEs that were in distress. It worked with banks and conducted diagnostic studies, identified the causes of sickness and remedies available. TIHCL has evaluated 218 sick MSMEs and supported 104 which have potential for revival. Physical assets worth about ₹95 crore were safeguarded and employment of 1,800 workers was saved by TIHCL, the release said.

Meanwhile, retired CGM of the State Bank of India D.V. Suresh Kumar took over as new MD and CEO of TIHCL. A release earlier this week said Mr. Kumar was appointed after the founder managing director and CEO Sanjaya Maruvada demitted office on May 30 after serving for three years.

The TIHCL also recently got a Chief Operating Officer in U.V.V.L Prasad, a retired general manager of Andhra Bank. He took over from J. Sitapathi Sarma, who after two years as COO demitted office on April 30.

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