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NT Bureau
Chennai, May 30:
 

Indian Overseas Bank executive director Ashok K Dugade addressing SME entrepeneurs during a seminar on 'Improving effiency of SMEs through proper documentation, organised by SMERA, in Chennai yesterday. Ashok Leyland executive director S Nagarjan is also seen.

        Documentation plays a significant role in present-ing an accurate image of the efficiency of SMEs.

        Speaking at a seminar on 'Improving efficiency through proper documentation' organised by SME Rating Agency (SMERA) in the city yesterday, Rajesh Dubey, CEO, SME Rating Agency India Ltd (SMERA) said that credit rating SMEs is one of the key approaches to empowering them. And when a third party rating agency is going through the balance sheets and records of the performance of an SME, the document-ation plays a vital role in presenting the correct picture of the SMEs.

        The seminar, attended by as many as 120 SME entrepreneurs, focused on the role of documentation in improving efficiency in SMEs and the steps to be followed in implementing for better documentation processes.

        Indian Overseas Bank executive director Ashok V Dugade in his address, said that SMERA's ratings as an independent rating agency would enable faster and more transpa-rent decision making.

        Ashok Leyland executive director S Nagarajan spoke about the emerging opportunities in auto components for SMEs. He elaborated on the mutually beneficial role that can be played by big companies by outsourcing certain production units to SMEs to cut costs. This was followed by a presentation on IOB schemes for SMEs and interactive session with SME entrepreneurs.