Saraswat Bank, Global Chamber of Saraswats sign MoU; special loan scheme announced

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The SARASWAT BANK LTD has initiated an exclusive scheme “LOAN for ENTREPRENEURS and PROFESSIONALS ( LEAP) that would provide loans/ OD facility for first generation entrepreneurs from the Saraswat Community through Saraswat Bank at a concessional interest rates – a report by Rahul Laud who was in Goa at the Global conclave

A loan scheme to support young saraswat entrepreneurs was announced by the  Saraswat Bank top brass  Chairman of the bank Gautam Thakur, Arti Patil , Managing Director, Saraswat Bank , Pawan Deshmukh, Head of Retail Banking, with Founder Director, Siddharth Sinkar and lead members at the Global Chamber of Saraswat Entreprenurs and Professionals (GCSE) who signed a Memorandum of Understanding on 17 November.

The SARASWAT BANK LTD has initiated an exclusive scheme “LOAN for ENTREPRENEURS and PROFESSIONALS ( LEAP) that would provide loans/ OD facility for first generation entrepreneurs from the Saraswat Community through Saraswat Bank at a concessional interest rates.

An excited and happy Siddharth Sinkar, Director at the GCSE said , “LEAP will boost the morale of the existing young first generation Saraswat entrepreneurs for scaling up their businesses. This will also promote the entrepreneurial drive amongst the Saraswat minds.” “This facility will be offered ONLY to members of Saraswat Chamber”, he added. Elaborating further , Sinkar explained that “The chamber has framed a scheme and Saraswat bank would accept proposals under LEAP from chambers office. We would conduct a basic due diligence before submitting proposals to the bank. The final decision on grant of loan will be with the bank. If other customers approach bank for a loan , it’s at their discretion.”

At the signing ceremony of the MOU – (from Left to Right) Sanjay Kini, Administrator Saraswat Chamber, Ajay Pinge, Director Saraswat Chamber, Siddharth Sinkar, Founder Director Saraswat Chamber, Girish Telang, Director Saraswat Chamber , Arti Patil, Managing Director, Saraswat Bank,Gautam Thakur, Chairman Saraswat Bank, Pawan Deshmukh, Head of Retail Banking

Thakur had made a soft announcement of this support scheme to first generation young entrepreneurs as a special gift to the attendees at the 3rd annual Global conclave held at Panjim in Goa in September 2022. Over 300 attendees – young and old entrepreneurs and two generations had attended the conclave from different parts of India and abroad. These   entrepreneurs converged in Goa for their annual conclave to create business networking opportunities provided by the Saraswat Chamber to grow their business.

Upendra Pai Raikar and Avdhut Rege- event managers t 3rd global Saraswat Chamber Conclave at Panjim, Goa

“Saraswats are considered as Sadhaks of Goddess Saraswati from generations. It gives them opportunities to worship Goddess Lakshmi through this community initiative of the chamber”, said Siddharth Sinkar. The conclave was attended by many Saraswat stalwarts. Suresh Prabhu, former Union Minister addressed the gathering by emphasising the need of networking. More than valuation , Prabhu emphasised that value based business was pertinent.

The Chief Guest was Shrinivas Dempo popularly known as Baba from The House of Dempo. He explained the connection of all Saraswats towards their ‘Kuldaiwata’ as a natural bnding amongst its community. “This will act as a guiding force in the coming years to Saraswat Chamber”. He also offered a special welcome to all the non Goan delegates who came from their ‘Karma Bhoomi’ to the ‘Daiva Bhoomi’ to be part of the conclave.

Saraswat Chamber 3rd Annual Global Conclave, Panjim in Goa

The Keynote speaker was Ulhas Kamath, former Joint MD Jyoti Labs presented few data points on the challenges faced by the family businesses in India and what steps are needed to ensure to remain relevant as entrepreneurs in this fast changing world. Kamath also shared that the job availability at the middle level will disappear and only top and bottom opportunities will be available, as technology will take over most of the middle level jobs. “The community has to be ready for this challenge by becoming job givers rather than job seekers”, he added. He also urged the community to develop more women entrepreneurs to have more sustainability in businesses.

Felicitations and honour were conferred upon Saraswats who have made their mark and well established themselves in their entrepreneurial journey spread across different regions including Mumbai, Goa, Mangalore, Bangalore and Udupi.

Saraswat Chamber 3rd Annual Global Conclave, Panjim in Goa

To name a few, Saraswat Bank, SVC Cooperative Bank, NKGSB Bank,  Shrinivas Dempo, Daji Salkar (MLA), Audhut Timblo (Fomento Group), Shekar Sardessai (Kineco Group), Pravas Naik (Nanu Group), Dattaraj Salgaonkar (V.M. Salgaocar Corporation), Shivanand Salgaonkar (VIMSON), Manoj Caculo (Caculo Group), Anil Counto (Alcon Anil Counto Enterprise), Jagmohan Kaul (Verispring), Giridhar Prabhu (Achal Group), Bhushan Namlekar, R S Shanbhag (Value Point), Pradeep G Pai (Hangyo), Subhash Kamath (Abharan Jewellers), Dr Ushaprabha Nayak (Expert Group), Devendra Parulekar (Saffron Stays), Swarna Jewellers. Aditi Kare Panandiker and Sandeep Bambolkar of Indoco Remedies.

The conclave witnessed business sessions  on  finance for business which had the experts from banks. Gautam Thakur of Saraswat Bank  Anand Devidas Taggarsi CGM from SVC Bank, Santosh Borkar DGM of  NKGSB Bank and the finance expert CA Amit Pandit, while  the session was moderated by CA M N Pai from Mangalore.

Saraswat Chamber 3rd Annual Global Conclave, Panjim in Goa

On building value in the business had entrepreneurs like Aditi Kare Panandikar from Indoco Remedies, Jagmohan Kaul VeriSpring Group, Devendra Parulekar of Saffron Stays, Shekar Sardessai of Kineco and was moderated by Amit Rangnekar from  Centaur Labs.

Amit Pandit, Chamber’s director introduced the Saraswat Chamber and Sinkar  shared about the upcoming initiatives for the members of the chamber. The Vote of thanks was proposed by Pravin Kakode who is now newly nominated asa Director of the Chamber. The conclave was impeccably , stylishly and professionally compered by Mumbai based Mohit Bhende and Karnataka’s popular woman entrepreneur Vathika Pai. The entire event was seamlessly structured , meticulously planned and executed by two event management companies – Mumbai’s Shamang Events and Goa based Conquer events led by experts Avddhut Rege and Upendra Pai Raikar respectively. Both are members of the Chamber.

Saraswat Chamber 3rd Annual Global Conclave, Panjim in Goa

Saraswat Chamber with registered Name : Global Chamber of Saraswat Entrepreneurs is a section 8 company registered in India with the Ministry of Company Affairs (MCA)  as Non- Profit Organisation. The main objective of Saraswat Chamber is to promote entrepreneurship amongst community members and create a platform for connecting all community members across the globe.

Saraswat Chamber 3rd Annual Global Conclave, Panjim in Goa
Saraswat Chamber 3rd Annual Global Conclave, Panjim in Goa
Saraswat Chamber 3rd Annual Global Conclave, Panjim in Goa
Saraswat Chamber 3rd Annual Global Conclave, Panjim in Goa
Saraswat Chamber 3rd Annual Global Conclave, Panjim in Goa
Saraswat Chamber 3rd Annual Global Conclave, Panjim in Goa
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