Small Scale Industry plays a vital role in the overall Economic Development of the country. Today it accounts for 80% of Country’s industrial employment, 40% of total manufactured goods, 35% of country’s exports and produces nearly 6000 items. But the Small and Medium Enterprises (SMEs) would continue to remain as the powerful instrument of economic growth in the era of unprecedented technological revolution and globalisation. In India during the post reform era, while the large and medium scale grew at 6% p.a., the growth rate in the SSI sector was 18% p.a. the Institutional Credit support plays a catalytic role in accelerating the pace of economic development of a country. Financial Corporation are an integral part of the overall mechanism of economic development. Considering these facts; SFCs provide finance mainly to small and medium enterprises. So it is imperative to study the impact of financial institution in relation to financing Small and Medium Enterprises. It is a well-known fact that Small and Medium Sized Enterprises (SMEs) are playing a significant role in the economy, particularly with regard to innovation and new job creation.
ABOUT THE AUTHOR Ashok Kumar Mohanty
Dr. Ashok Kumar Mohanty is the Reader in the P.G. Department of Commerce, Berhampur University. He was the recipient of Gold Medal by security First Class First Position in M.Com. Examination, 1981 of the University. He is having twenty years of Post-Graduate and M.Phil. Teaching experience in Commerce, MFC, MBA and Future Studies. Dr. Mohanty did work on a U.G.C. sponsored research project on the Management f Technology Transfer for his doctoral degree. He has successfully guided for research scholars who were awarded with Ph.D. degree in the areas of rural banking, port infrastructure, investment banking and consumer protection, Presently scholars under his guidance working in the area of foreign trade and EXIM Bank, DFLs and LIC. He has written a book titled Technology Transfer in Indian Automobile Industry, “A Study on Operational Analysis of Regional Rural Banks in Rural Developmentâ€. Dr. Mohanty has published more than fifty research articles in various national and state journals of repute. He regularly participates in national and international seminars, conferences and workshops and he has already attended 40 such events by contributing articles so far. He was heading the P.G. Department of Commerce, Berhampur University during the period 2000-02 and was member of Senate, Academic Council, Regulation Committee, etc. of the University. He is the life member of academic bodies like Indian Accounting Association, Indian Academy of Social Sciences and Orissa Commerce Association. At present he is the Associate Editor of the Orissa Journal of Commerce the prestigious research journal of Orissa Commerce Association in the State.
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