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Govt schemes - are they reaching SMEs
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Bikky Khosla | 09 Oct, 2012
We constantly hear politicians saying that small and medium enterprises (SMEs) are the backbone of the economy. Every now and then they speak about the sector's importance -- its job creation prowess, export share, and manufacturing output. There are a slew of schemes and incentives to promote the sector, and a dozen of websites to provide information about them. Time to time official statistics on which scheme has garnered how much are churned out. But still I have the feeling -- these schemes are not benefitting the sector much.
And this feeling gets stronger when I meet SME entrepreneurs -- both veterans and budding ones -- and listen to their side of the story. For some of them, these schemes are nothing more than white elephants; some others see favouritism for the bigger business; and there are many who spew venom against bank officials -- overall, their experience is pretty negative.
I availed the MDA scheme and participated in an international trade fair, but later I had to run from pillar to post to get reimbursement of portion of the air fare and space rental . . . . Under the PMEGP scheme an amount of Rs 3 lakh was sanctioned, but despite submitting all the necessary documents, the funds were released after a long long time . . . . Under the CGTMSE scheme banks are clearly directed to approve collateral free loans, but even after that I was asked for collateral -- such complaints are a dime a dozen.
The government, however, gives a different picture. According to recent statistics, funds released under most of the schemes, including PMEGP, CGTMSE, CLCSS, Market Assistance, Performance Credit, etc. have been well utilized over the years. They say that the SME sector would have beneftited more if more SMEs were aware about these schemes. Similarly, bankers blame SMEs' lack of financial knowledge and inconsistencies in their balance sheets. These views can't altogether be ignored, but they also don't reflect the whole truth of what is going on.
We all know which side holds more weight in the argument -- loopholes, babudom and red-tapism, cumbersome procedures, and risk aversion from bankers -- all these are some big roadblocks that need to be removed. In addition, this is true that many SMEs are unaware of many of the schemes, but here again the government has a role to play: propagate the schemes in an interactive way and encourage more and more SMEs to pick up the benefits. Bankers need to change their attitude and lend a helping hand in educating the small businesses.
In concluding, I feel that the write-up will remain incomplete without our readers' views. As small business owners, you know better than anyone else the difficulties and concerns. Your balance sheet was excellent, you got all the key financial ratios right, your documentation was impeccable, but still you had to kiss a lucrative scheme goodbye - if that is your story then share it with us.
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CGTMSE Scheme
Mahesh | Thu Jun 9 19:44:14 2016
Guys dont give up easily, you have every right to take CGTMSE scheme up to 1 cr. Apply for Nationalised bank and if they dont give, write to MD of the Bank, they will solve this. Ask the reason in writing, why they can not give the Loan
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Re: CGTMSE Scheme
Basha | Mon Jul 25 12:06:51 2016
I am one of the loan seeker in Nellore,Andra Pradesh to start new Micro industry.I have approached several banks to avail loan.Some banks said they don't support CGTMSE scheme,Some banks asks documents equal to existing industry ,Some banks denied because my profile not eligible as per the bank policy but said without having my profile ,some banks got angry asking for CGTMSE loan ,Some banks made fun for asking collateral free loan,Some banks told go to other banks,some mangers told if industry fails it is remark to his credibility,some banks quarreled. I have taken to the notice of banks internal ombudsman ,banks internal Grievance and Nodal officers but in vain I have taken to the notice of RBI Ombudsman but they are not responding properly even if they respond supporting banks only. Taken to the notice of MSME grivence but they will just sent letter to complainant and CGTMSE office and other concrens ,but there wont be any response and we can not go back update status in MSME the MSME grivence portal is made like that.Two times MSME sent letters to CGTMSE but two times no response no action There is no use of Grievance and ombudsman depts. It is true why banks has to think about others employment opportunities as they have job, monitoring system does not work properly so banks will not change. But govt says dont be job seeker be a job giver To fulfill this banks have to support but banks never do this until unless there is proper monitoring system
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Bank is not showing interest in CGTMSE
RITESH KUMAR MISHRA | Sat May 7 09:33:46 2016
i have applied loan under this govt scheme, but still i am running behind the bank for my loan and after an around 8 month,they are saying that they will not give under this scheme, i am having all the documents what any bank need for the loan under this scheme. If they don't want to give loan, then what is the use of these scheme. can any body help me, so i can start me factory, you can send me the details on my mail id ritesh2mishra@gmail.com
The alien type treatment by banks.
Jagjit singh | Fri Oct 30 01:55:32 2015
Hi Bikky, read your article. It reflects all the problems faced by budding entrepreneurs. If by any means we come to know about schemes they are made in such a way that you cannot enjoy them unless you have big collateral, good money back up, heavy balance sheet etc. If a person has them all why does initially he or she will go to banks for loan. Every body in the system wants there share from the loan citing the subsidy one gets, as if we are not going to give back the loan or enjoy the loan. Banks i have found are obliging their current clients by attaching them to schemes like CGTMSE in various ways and corner the new comers by saying that how should i trust you as you don't have any association with bank.
i feel that it should be taught in collage or as vocational course that if you want to become business as livelihood then how you should making rapo with the bank in the desired direction (means the right bank for right work). Also should ask parents to arrange for collateral at the earliest.
PMEGP Loan Regarding
Shubham Kumar | Sat Oct 10 13:23:10 2015
Maine financial year 2015-16 me pmegp loan apply kiya tha jo pass hoke bank me chala gya lekin bank ko pmegp ke bare me pata he nhi hai sara document dene ke baad bhi loan sencation nhi kar raha hai sir main kya karu koi solution boliye.
Governer cruppt policy( no Banker are follow
Aman Raj | Sun Aug 9 07:42:16 2015
Raghu Raj raman not serious in msme project all prime minister are made bakuf our janta babu governer, neta only show sympathy to janta in the time of election why i am paying tax (any types) jabki uska koi benifit nahi milta why deposit in bank bankers said governer apne baap ke ghar se dega
No Bank Care/Folow RBI Guide Line for CGTMSE
M Chandra | Mon Mar 16 11:49:37 2015
Actually bank are not following RBI Guidelines and demand for coll security and they demand more and more documents for mortgage purpose. Even they delay and do not give in writing if they reject CGTMSE loan due to coll security. In uttrakhand all bank need to check the denial of loan soon for a hill state where development is slow and corruption in all deptt are very high.
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Re: No Bank Care/Folow RBI Guide Line for CGTMSE
Harish Garg | Wed Aug 19 14:47:37 2015
Same is the story in my case, banks are denying the loan under cgtmse even though we have produced the govt. of india order that my MSME is eligible for loan and I do not retail my product. From the experience of last 5 months, i can tell you that this is like hitting your head against the unbreakable walls. Don't know who to approach. When Mr. Modi was elected as our PM I thought things are gonna change, however, I am disappointing as he or none of his ministers are responding to my tweets, emails. I am feeling helpless.
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Technology up-gradation scheme -- only waste of time
BHAGAWATH PRASAD | Thu Nov 27 10:14:54 2014
In the year 2004 , we had availed loan of 99 lacs from KSFC for buying a machine under technology up-gradation scheme. KSFC had demanded 200% collateral to approve loan under SIDBI guidelines. Somehow we managed and given the amount to them. After that it took 6 months to clear the file , and released term loan. While we had maintained repayment schedule , an year later their collection drive started harassing us for prepayments , fortnight interest collections. All our time was spent on managing officers' attitude than production and selling , eventually we were fed up with it and took some suppliers help and cleared balance payable at one go and waited for 3 months to get our collateral papers back , post which sales tax harassment and claims mentioning various schedules that doesn't explain itself under what schedule we belong , confusions and time was again spent more on managing tax officers than upbringing firm. Finally we had closed the firm. A year later went to ksfc for claiming subsidy promised on interest paid , they said they had written to SIDBI and are awaiting for their reply. A year later they called us and said an Rs.100/- cheque had come in our firms' favour , to collect it we had to go four times and wait for whole day. Finally we decided that it's not sensible wasting time for government schemes and it's wise to move ahead with own energies than wasting time for schemes .
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Re: Technology up-gradation scheme -- only waste of time
Pradip singh | Fri Apr 10 04:57:20 2015
This is fact of all govt schemes and baburaj and lal fita sahi is hawi on system. Indian babus are very corrupt who stopping growth of the country. its sud be strictly banned to delay any work by babus more then 4 working days in one application. Even the most of the bank employee are wanting money for each work of advances .Corruption in bank is also very high in Uttrakhand; the development is stopped due to corruption in politics, govt offices and banks.
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CLAIM FOR CAPITAL SUBSIDY
INDUSTRIAL TOOLS | Wed May 21 10:14:29 2014
WE HAVE CLAIM FOR SUBSIDY ON 29-11-2010 TO OUR BRANCH AND OUR BRANCH SBI HAVE FORWADED OUR CLAIM TO NODAL BR. SBI 01-12-2011 BUT STILL TODAY WE HAVE NOT RECEIVED OUR CLAIM. OUR FILE NO, SS 1675 (TUFF CELL )
GOVT SCHEMES TO SME'S
AMIRTHASWAMY JAYARAJ | Thu Feb 6 14:48:30 2014
GOOD WISHES,INDEED THE COMMENT REFLECTING OUR OWN MIND AND TO BE FOCUSED IMMEDIATELY IN THIS HOUR.THE STRUGGLE GOING ON LAST THIRTY YEARS.WHOM TO BE BLAMED?
collateral free loans for mse under cgtmse coverage
SUNIL KUMAR | Tue Feb 4 11:12:48 2014
ANY Govt schemes - are they reaching SMEs - SME Schemes is indin public is not legal is to any bank officer to 3 to 5% co meson
to apply any Gove Schemes to bank Disbursed Government of India THIS IS MY INDIA
Harassment for sanctioning Loan
Supriya Sarkar | Mon Jun 3 19:59:30 2013
I have been harassed since last one year by UCO Bank, Badkulla Br. at Nadia, West Bengal. Zonal Manager needs bribes only, he has no interest in employment generation or bank business, etc. Can I have a proper address where this type of grievance can be informed rather it works, otherwise new entrepreneurs like me will lost their interests in starting a new business.
Credit issue
sudhir lal | Thu May 16 06:29:00 2013
I was going through the same problem few months back , then i consulted credit sudhaar ,they helped me in paying my debt and also counseled me in taking decisions to improve my credit score. I would suggest you to consult them once. You can contact them on 022-67886788 or can visit their websites at www.credit sudhaar.com
Msme scheme
Senthivel | Sat May 11 03:32:43 2013
Govt supports only MLA relatives and MP relatives, and all banks support like kingfishers airlines, because they are rich;
then bank managers help his relatives and the relatives of employees only. If you have money start SME, MSME, otherwise don't make any dreams my friends.
it is very very tough to get a loan sanctioned under CGTMSE scheme
sardar safiur rahman mob#9804374719 | Thu May 9 06:26:37 2013
I hv been turned down by many nationalized bank for CGTMSE loan. Although I hv some exports and local orders jute bags.
Even I have a proof that I can execute good orders fr overseas as well as locally but still banks are asking fr collateral which disgusting and giving lame excuses fr rejecting the loan. I believe govt should take action on the same.
Rgds
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Re: it is very very tough to get a loan sanctioned under CGTMSE scheme
souvik nandy | Mon Nov 17 13:24:05 2014
I agree with you; even I am facing the same problem; govt should seriously take note of these things otherwise time will come when every young entrepreneur will turn up into a criminal.
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Re: Re: it is very very tough to get a loan sanctioned under CGTMSE scheme
sweta | Wed Aug 5 14:03:19 2015
It is not tough but impossible to get loan under any govt schemes.MSME sites have tonnes to offer but no one can avail them ironically.
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Bibby Financial Services India Pvt Ltd
Karan Malhotra | Mon May 6 10:24:59 2013
We provide SME funding solution based on receivables of the company. www.bibbyfinancialservices.com Benefits to you 1. Flexible Funing 2. Fast Approvals 3. We help where banks dont help 4. We chase your payments from your debtors Call us now - 0124 4675300 , 9582510755 or write to us at indiasales@bibbyfinancialservices.com
Want to make the bank managers accountable ?
ramiyer32@gmail.com | Thu May 2 18:14:58 2013
I have a project, which will make the bank managers accountable, and also almost we can solve the credit support issue from bank in a legal way, anybody can joint hand with me, will move ahead in a big way as a social venture
msme schemes
joseph lawrence | Thu May 2 02:28:44 2013
I would like to introduce myself as a skills provider in the baking industry.
In our country many budding entrepreneurs are willing to take up the profession of their choice.But the problem with the the nodal agencies are they are not clear about their priorities.for example if a person wants to start a Bakery business first of all the funding agencies should evaluate the candidate for the willingness to work in the chosen field and ascertain whether they have the passion,Patience & perseverance to take up the job of their liking.
Second once the evaluation is done the entrepreneurs should be send to a reputed skill development institute or the funding agency itself should provide the right skill at a cost & under their supervision.only after the successful completion of the program the funding agency should accept the application for consideration of financial assistance.
only in this manner the candidate will be able to chose the right equipments & tools for the trade.Then onwards the funding agency can provide all the necessary training related to starting an industry like banking, licensing ect .
with out the basic & fundamental training to an entrepreneur the project is bound to fail due to lack of knowledge.
above all the information related to the various MSME schemes should be clearly exhibited in all the nationalized banks and all district industries center& MSME offices.
Joseph Lawrence
JM bakers academy- Coimbatore
jmlawrence1000@ yahoo.co.in
0999 437 437
ALL THESE LOANS AND SCHEMES ARE A BIG HUMBUG
VIJAYAKUMAR | Wed May 1 21:38:37 2013
These schemes and assistance are only in paper and in practice given to those who can grease the concerned people. My application for Rs 15lakh for export trading against confirmed irrevocable l/c is pending with SBI kumarapark for the last one year, I have even offered my house as collateral which is worth Rs 1.20 crore but nobody is responding as to whether they are approving or rejecting. Meantime I have lost my buyer due to late delivery again due to late financing. Now I have joined the ranks of unemployed searching for jobs. Now I have found another buyer for a different product and am waiting for him to open l/c and searching for private financiers to help out any body out there reading this. No scheme from the government will help any SME. Unless it is implemented in letter and spirit.
Govt schemes - are they reaching SMEs
S.V. Ravikumar | Wed May 1 18:50:39 2013
Whatever has been told was true when we approach bankers for collateral free loans.
MDI schemes for exporters
Debashis Mukherjee from Au Naturel | Wed May 1 14:06:23 2013
I am an exporter for the past 13 years in the MSME sector. MDI grants are limited quite contrary to Govt. claims. Too much of paperwork, red tapism and ultimately non workable website created by NIC.
These schemes should be disbursed within a fixed time frame say, maximum 3 months from the date of filing papers. Paperwork should be kept to the minimum.
Taking out various schemes only confuses exporters and GOI officials and ultimately nothing happens. GOI or State officials must be taken to task if all applications are not disbursed within time frame.
Unless such steps are taken NO GOVT CAN IMPROVE EXPORT situation no matter how many schemes one takes out.
i want a cnc lathe mechine
md khaja pasha | Wed May 1 11:42:08 2013
hello sir i have 20years experience in technical industries so i want a CNC lathe machine in credit if it possible send me an email, my email id is md.mdkhajapasha.pasha@gmail.com mobile no 970873492.
Need Credit settlement assistance
syed salam hussain | Tue Apr 30 20:06:18 2013
Hello Sir, i want to start my business but i have bank credits,i seeking a loan to settle down all this and start my small business. can you help me out on this please. reply to syedsalam123@yahoo.co.in
In tvm district all of the sbi managers says that they dont know about sme
S.Binukumar | Thu Apr 25 16:56:27 2013
Pleas give the guide line about msme
If the msme loan is rejected by the
Conserned banks ,what we do,where
We give pettsion aganist the bank.
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Re: In tvm district all of the sbi managers says that they dont know about sme
babu iyer | Thu May 2 18:11:47 2013
Am in bangalore, native of tvm, i can understand the mentality of bankers in our tvm, do one thng, according to scheme apply loan via registered post, and wait for the reply.
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Govt. schemes - are they reaching the SMEs
sudhir g. | Sun Apr 21 14:33:02 2013
I am sure something is missing somewhere. For my startup, I have met a numebr of banks for CGTSI scheme funding, but none of them wants to come forward. They give just senseless answers. someone there needs to pull-up these people, unless the whole thing is just lip-service.
pmegp loan
indimate69@gmail.com | Sat Apr 20 06:55:08 2013
After so many visits of bank officials , even I am ready to put collateral due to egos of bank officials they neither rejecting nor given the loan . I lend money in privately now unable to pay . . now I am sincerely trying to sell my Garments manufacturing unit to overcome loans as early as they are not taken my life. I sincerely ask you please don't give such portals to tell there problems, in our country only politicians and high levels of people only get loans not like so many like me . . sorry to say no banker will treat small entrepreneurs as humans they simply treat us like beggars. Now I am going to close down 40 members working unit .
SME Loans
KP Mishra | Sun Apr 14 05:24:29 2013
Getting SME loan is very difficult.What the Govt policies are and what PSU Banks ask are two different aspects. My Unit is to be established at Mandideep but land problem persists although purchased a year back. Goons in Mandideep are stopping construction work.All permissions for constructions of Shed have been taken from MPPCB, MPAKVN and Industrial H&S long back but three banks did not agree to provide loan of Rs 500 lakhs as Banks want collateral guarantee much more and too of house property located in towns like Bhopal.
Loans for SME's
Preetham | Sat Apr 13 10:58:31 2013
Dont know what is the redtapism or hurdles to release loans against stocks and receivables to SME sector ,
Banks come up with shylock methods to refuse
And yet these same banks come running to customers to open accounts and transact with their branches
AMAZING CHUTZPAH !!!
Quite true what Rajnikanth says " The rich get richer and the poor get poorer "
And this is the amazing India
Industrial subsidy provider from central govt.
Rakesh | Sun Apr 7 08:54:21 2013
We are central government associate dealing with Government subsidy, We are providing State and Central Government subsidy,
Central Government : CLCSS : If SME Entrepreneur bought new automatic machinery for the purpose of mass production against term loan from any scheduled and nationalist bank, so that SME Entrepreneur can claim 15% capital refund from Central Government.
For more information contact us on below number :-
rakesh
8286008833,
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Re: Industrial subsidy provider from central govt.
SEKAR.G. | Sat Apr 20 04:21:41 2013
Sir, pl mail me the different subsidies provided by Tamailnadu Govt & Govt of India for New Entrepreneurs & SMEs. TO srchandh@gmail.com
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CGTMSE: the picture is more ugly.
Mahendra | Wed Feb 13 14:50:19 2013
That's true what you said above. You are quit decent above. But in fact the picture is more ugly. I am an entrepreneur from Rajasthan and I want to setup a kind of SSI which includes fabrication, engineering and electronic trades. First of all I bought an agriculture land in the month of June, 2012 and tried to get the land use converted to industrial from agriculture. To your surprise the Sub Divisional Magistrate has not yet accepted the file and when asked for receipt she says I will do the needed automatically and if you insist for receipt then don't blame her for any thing going wrong.
I then purchased another peace of land converted to industrial purpose in Jan 2013.
It was now turn to meet bankers. Initially Bank Managers made fun of me that I was asking for a loan of more than Rs.100 lacks; with out any collateral security. Then through a mediator on payment of service charges the bank agreed to fund the project. Now the turn was of the Bank's advocate. For the search report of the property he is asking revenue record of last 30 years, which is not available. The point is that the banks ask for a search of 30 years only for the properties acquired through non testamentary inheritance and 13 years for others, which I am.
Till now every person, authority, institution turned me down. Still the fight is going on. I have invested every thing which I earned till now and if the project did not start surely they will not even permit me to beg.
The whole system is unfriendly.
cgtsme covered pnb loan
akhilesh shukla | Sun Feb 3 10:33:39 2013
kya cgtsme se covered loan me guranter ki property jise bank bandhk bana le use seel kar sakta hai
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Re: cgtsme covered pnb loan
neera | Sun Mar 17 13:27:44 2013
Yes it will be done
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Allow Right People to Get Right Opportunity
T. Sabapathi | Tue Nov 27 07:46:16 2012
I have gone through various banks and I didn't get any loan for my business development. Where the schemes are available the bankers should analyze the candidates and their project ideas by spending at least of time. Because lots of the loans rejected without going through the documents and counselling. I beg to bankers to give right opportunity to right people. Because most of the documents and collateral are perfect but the people are not ready to repay the loans once received. But most of the people are awaiting the chances to get loans really for development and ready to repay it.
application for pmegp scheme
Clancy a Barreto goa | Mon Oct 22 10:36:07 2012
I had applied for pmegp scheme now already 6months past document are verified also margin fee is paid but now the person has switched his mobile off. I think the person is a fraud only bullying people to apply for the scheme. Please return my money back or clear my loan amount due to her stupid excuses. I am in trouble.
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Re: application for pmegp scheme
XYZ | Wed Feb 21 19:20:09 2018
Facing the same issues here,
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SMEs
Imtiaz ahmed | Sun Oct 21 18:17:52 2012
100 % correct, I had to kiss lucrative scheme goodby.
No proper information
K.M. | Sat Oct 20 06:04:12 2012
Bankers are not providing proper information regarding these schemes. Every time you ask about such scheme, some don't know about the schemes, some say they don't deal in such scheme & some say that CGTMSE don't sanction these loans. And they ask a huge amount of paperwork.
I am running a trading business & want to upgrade to manufacturing business, when I asked them they ask for collaterals, when I asked them about CGTMSE, they don't provide clear information & say it would take a lot of time to process. And the time period they say is 3-6 months, hearing this one cancels the plan of taking loan. Then bankers say give the collateral & get your loan approved in 2-3 weeks. What will a borrower do?
The bottom line is, bankers don't bother about the person asking for loan, they just want to earn the interest & business for themselves.
The schemes generated by govt. are beneficial for the SMEs but the bankers are not willing to transfer that benefit to SMEs.
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Re: No proper information
Imtiaz Ahmed | Sun Oct 21 18:23:09 2012
it's 100% true but govt. also know the bank attitude and do nothing.Govt. authority can strictly order bank to follow and to act accordingly.
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Re: Re: No proper information
Akash Sen | Mon Mar 25 17:51:43 2013
Why govt itself doesn't give the money for the PMEGP or CGTMSE loans? Why they go to bank? Ask govt.
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Re: No proper information
Vijay | Thu Apr 11 18:15:16 2013
Thats absolutely true my dear friend.
but the Scheme is existing and many have availed the benefits.
I strongly feel you should take it up with your industrial association and to take DIC officials personally to the bank and make all the staff clear about the scheme and not fool around.
If your industrial association is not able to help you? then there is something wrong with the association itself.
Wherever associations are strong bankers don’t fool you for ever. Keep trying you will succeed for sure. All the very best.
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Delay in sanction of loan by banks - negative aproach
K Raj, Mrs. | Thu Oct 18 13:00:17 2012
I am small SME owner.
I submitted my loan application to one govt. bank after detailed discussion with officials and after completing all legal and financial requirement. Proposal was formally given to bank in January 2012. Bank loan is yet to sanction. No reason, also told to me even after 10 months. I have spent substantiate amount on framming proposal, on making visits to bank etc. but action of bank can not be appreciated since no action taken to take up proposal to sanction or at least inform shortcomings. It is simply get pending.
If such is the working of Banks and policy of govt, what is use of govt. to announce achievements about SME sector.
Send this article with 100 feedback to , PM, FM, RBI, MIN. OF MSME
ATAM PARKASH GULATI | Mon Oct 15 09:48:10 2012
Lets raise this matter to the concerned authorities. Let the concerned departments address all the complaints with in a stipulated time say 30 days. At least this is what that we should deserve.
Corruption
Abhijeet Sharma | Mon Oct 15 09:13:29 2012
Actually bank is funding to those who got political connection and they are using it very easily just like "BAJPAI YOJNA". No body got the benefit of Bajpai Yojna. Till date the scheme is on and loans are sanctions but no bank entertain to those govt approval and simply says we dont have funds for this to all common man. What to do and whom to address all this problems ?? Big are becoming bigger and small are becoming more smaller day by day. I need funds to increase my business and to take my business structure to next level but without funds i am help less.
Mockery
Girish Kumar | Sun Oct 14 09:14:44 2012
The schemes introduced by Government is more of a mockery than helping the SME to start their enterprises. It took almost 9-10 months for getting loan from a reputed Bank under a scheme. Every time we visited the bank, the manager had one excuses or the other, moreover the entrepreneur is a women, as per the govt. she is supposed to get 1% less interest than others, but was charged as others. No banker will give any helping hand, once you approach them they act as if we are beggars asking for alms. Not only in bank the same attitude is seen in government offices, once you grease their palm, everything falls in place.
Whyn't try online methods to bring transparency
SATINDER PRAKASH | Sun Oct 14 05:41:03 2012
It is true all the schemes which govt. propose or provide to sme's goes unheard because of the lack of interest of those people who has the responsibility of implementing them. If somehow any person come to know about them, then it is really very difficult to get any benefit or advantage of that schemes because of the hurdles created by bureaucrats because they also want their "cut". If you don't give them, you won't get it. So govt. should think of different methods of implementing all its SME schemes. My suggestion is to get all SME holders registered and sending information through e-mails directly to them. Provide on line help to them. Collect documents online. Time bound clearance of proposals. If there is any discrepancy in documents then it should be informed online through e-mails. This will reduce direct and indirect intervention of corrupt babus and officers in govt. institutions.
please note
ramanan | Sun Oct 14 03:58:40 2012
There is an organisation by name TFSC in chennai exclusively dedicated to SMEs. This organisation was started with TANSTIA (tamilnadu small and Tiny industries) along with the german firm FNF is doing remarkable wotk for SM$ES.
I am giving their nnumbers and addresses for the benefit of members keen;
TANSTIA FNF SERVICE CETRE,B22, INDUSTRAILESTATE,GYUINDY CHENNAI
PHONE-04422501451,43504040,tfsc@tanstiafnf.com
PMEGP - problem with banks
Senthilkumar | Sun Oct 14 01:52:32 2012
I also faced the same problem with the same scheme.Even after I got funds from the scheme i could not utilise the fund properly because the bank officials adamant.The govt is not ready to direct the banks to assist the beneficiaries in right manner.I am unsatisfied with govt schemes.Even after loan sanctioned in paper beneficiaries are not getting funds from banks because of late release of subsidiary. SBI in Mumbai district is worst bankers in this case.They ask collateral for this scheme.They simply avoid proposals naming it unavailable.Bankers are not experts to say which project is viable or not.
sme loan
Deepak Shukla | Sat Oct 13 13:51:37 2012
Dear sir, I am financial consultant from Gujarat. No bank is funding without collateral security, but every bank promote that they fund loans up to 1 cr without collateral security. This is why also no one can make any action against him. For SME what to do.
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Re: sme loan
Ms. Dipali | Sat Apr 27 12:37:14 2013
Can you contact me.
mob no. 8286008866
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Banks, agencies support only those who have political links...
Appu | Sat Oct 13 10:03:53 2012
Very well said, non of the Banks or Govt. Agencies will help you in any matter & if they so, it's like they are doing favour on our company and in principal have to pay kickbacks. Have to waste time by running after them.
All those responsible are happily give support to those companies who are having political links.
Remaining it's all Govt.'s bullshit, its hopeless to expect from them.
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Re: Banks, agencies support only those who have political links...
SATINDER PRAKASH | Sun Oct 14 05:42:50 2012
VERY TRUE
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Bank managers approve loans only to favoured customers
Ajay Das | Sat Oct 13 09:13:43 2012
Sir,
What you have high lighted is very true.Banks managers whom I had approached say that there is no such schemes or pass the buck to their head office. They only give these benefits to their favoured customers.
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Re: Bank managers approve loans only to favoured customers
SATINDER PRAKASH | Sun Oct 14 05:42:01 2012
IT IS TRUE.
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Re: Re: Bank managers approve loans only to favoured customers
prem kumar sharma | Fri Nov 7 09:08:59 2014
100% true
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SMEs gov schemes
Varun Katyal | Sat Oct 13 05:57:51 2012
Sir i an avid reader of ur write ups here.
But u said to share our stories with u how we got discouraged by red tapism etc.
Sir best example is this forum it self.U must come up in a write up with complete details of PMEGP, CGTMSE, CLCSS etc & process of how to avail it. Frankly a lot of people including me do not knw full form of
PMEGP, CGTMSE, CLCSS. And if u also do not put detailed light on it for us then how can v expect cooperation from any other place.Instead of giving hint of words like PMEGP, CGTMSE, CLCSS etc. We request u to cover the informative details
of above words in ur coming write ups.
I m sure that would definately make a big difference
Working capital to SMEs
S. Saravanan | Sat Oct 13 05:33:05 2012
Sir,
We are a budding exporter of fresh coconuts from Tamil Nadu. We are an entrepreneur exporter belonging to SME category. Even when we have the opportunity to get irrevocable sight L/C, the bankers are denying to sanction us pre-shipment credit to procure our materials for export purpose. This is the state of affairs in India, especially happens to exporters belonging to SME category, that too, for first-generation entrepreneur exporters like me.
If you can guide more clearly on this, then I will be happy.
Thanks,
S. Saravnan
MAGEE EXPORTS, DINDIGUL, TN
Phone: 919487178025
email: mageeexports.india@gmail.com
Grim picture
Yagnesh Zinzuvadiya | Sat Oct 13 05:30:01 2012
Dear Sir,
I really appreciate you to highlight this topic. We are one of the SMEs who are facing the same problem. The Banks are asking for collateral for CGTMSE. Simply speaking, one of biggest Indian Bank has been suffering the risk of thousands of crores by lending one of the Airlines which is almost dying. But, SME like us, are not even getting in INR 10 Lacs for sustainable growth. Just Imagine, How Many SMEs would have been benefited out of these huge amount? We don't show Glossy picture, we only show them real picture with present situation, which is also healthy growth. Literally, they were asking for FDs of our parents for collateral, Why should one give his FDs made for Retired life for our business??
They said otherwise the process will be very slow for both of us - Bank & Company.
Another case - One company who has received the CC under one bank was not able to pay its installments, so that bank has stopped its account for recovery and what the company did --- was amazing...They apply for another bank & they get it very easily...Cheers!!!! Now how can this be possible?? If The Fraud gets loans from any other bank,why banks need financials ???
This doesn't seem better picture of prosperity of Indian Entrepreneurs - specially SMEs...
Loans for SME
Jitendra varma | Fri Oct 12 11:03:04 2012
Dear sir/madam,
We are having small unit of manufacturing Electronic SMPS power supply.We want to expand our business.For this we need loan to the extend of Rs7.8Lakhs rupees.
But presently we need TIN no & CST for selling purpose.We came to know that for this registration we have to pay Rs 50-60K
So please guide us for this
Thanking you
Jitendra varma
Savolite
E-mail - savolite@gmail.com
I want the answer
Geoffrey Asprey | Fri Oct 12 09:58:43 2012
The money is going into businesses who are already the friends of the people who say yes or no. This money just like the Banks is keeping there friends afloat.There certainly is no buzz around. I saw an interview on T.V where a man was asking why should an entrepreneur put his house on the line? I want the answer.
No solution since 1998
M.C. Paney | Fri Oct 12 09:31:30 2012
I left my job in 1997 and start a Micro SSI Unit at Raipur Ind Area, Roorkee in 1998 hoping that so many govt policies will help me to fulfill my dreams. I had tried to avail CC limit as well as Terms loan since 2008 from many bankers under CGTMSE Scheme (I have no property for mortgage) but till date I could not get any loan from bankers. My application always rejected.
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Re: No solution since 1998
naveen | Sat Oct 13 13:32:35 2012
You can write to appeal to finance minister regarding loan
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Govt Scheme
Kishan Lal Saria, Bhiwadi | Fri Oct 12 07:56:39 2012
We donot get schemes and its details at one given place so, we are mostly unaware of these schemes. Government or Chambers of Commerce should keep on educating the SMEs on a regular basis so that they can avail & use the scheme benefit for the purpose it is meant. You referred about the scheme as PMEGP, CGTMSE, CLCSS, Market Assistance, Performance Credit, etc, please highlight these to us.
Farmer loans diverted to Big biz, gold loan cos
Aravind | Fri Oct 12 07:56:03 2012
One of my friends is working with a leading private sector bank and is working in their Agricultural Loan division. As per Govt. rules, a certain portion of loan amount should be given to farmers for agricultural purpose, it is compulsorily. As per my friend, most of the private banks are diverting this fund to big business groups who are into gold loan, etc. These big groups have their own mechanism/arrangement to show that they have taken loans for agricultural purpose. They take low interest amount meant for agriculture and divert these funds to gold loan, etc. and get huge interest. I have just shared it with you. Just like this, the real benefit is not reaching to the needy SME entrepreneurs. You are correct Sir.
Bank loans a hoax, SIDBI a den of curruption
Jitendra Tah | Fri Oct 12 07:49:58 2012
Sir , I am setting up a industry and recently went to SIDBI. First:
they discourage you to go ahead and tell you what it would cost to get finance approved. They are very lethargic silly people who should be clerks not DGMs/GMs. And also lso very uncooperative - ask you "KITNA Collateral doge??" - two to three times of the loan amount is required.
SBI- no time to even see file without taking 10000/- only to see and accept file, and then say "baki baad main uppar discuss karke le lenge" . What policy ... what rules, all are "bekar babus"; they are the law. I am in LUDHIANA , with current profit making unit with Rs. 7 crore turnover/profit Rs. 12lac but no one wants me to expand. Just give bribe and all is fine. SIDBI LUDHIANA AND SBI LUDHIANA CORRUPTION DENS.
Documentations requirement is too high
Kirti Jain | Fri Oct 12 07:06:51 2012
Yes, I think this is the worst thing going on in our country with most of the entrepreneurs who want to grow up their industry but as u told the schemes are not so useful and also the documentations requirement is too high whether it is fiscal or not doesn't matter. Thanks, Kirti.
Waive off VAT, Income tax for start-ups, need dedicated TV channel to educate SMEs
Debabrata Bose | Fri Oct 12 05:42:08 2012
I have started a business on gifting with very small amount. In India Government does not help people with small money to grow. From the first day they are looking for VAT and Income tax. Why can't they give tax holidays for at least three years to new micro business. They can also do away initial deposit in VAT. Government should have a separate TV channel to teach people about the SME. BANK loan does not help as they start charging enormous interest from day one. They should give loan say up to 10 lac with zero interest for first one year and then they should start charging them as per profit of the company. Bank and government should help them to grow so that they can pay back their loan with interest. They should pay loan to fulfill an order and when the client pays up they can take back their money along with 25% share in profit amount. Government has to do much more in this sector so that more and more people comes into this business and then grows to make more employment.
Collateral security the problem
Dr, Mrs.Vasudha Keskar Managing Director ,Maarc Labs Pvt. Ltd. | Fri Oct 12 05:12:42 2012
Govt gives 30% financial support for laboratory upgradation in private sector .This area has become an important sector due to implementation of Food Safety and Standard Regulations in India .Still it becomes very difficult to upgrade the business with Govt support due to the following problems:
The total amount is to be spent by the laboratory initially for upgradation and then the aid from Govt is disbursed after 6-12 months .
For procurement of the necessary infrastructure lab has to take loan from bank for total budget .Bank asks for collateral security for loan .If it is not possible to give the security in form of property the bank asks to keep FDs .One has to block all funds with bank to take loan and it becomes difficult to run the business due to money blocking. Again a heavy burden of interest is added till the funds from Govt get released .It becomes a big question to deal with the situation .
Thanks for raising the concern
K S VENKATESAN | Fri Oct 12 05:00:48 2012
Good, someone has put up a few lines. My son who resigned lucrative US job just start one manufacturing unit to provide employment and availed finance from bank. He was eligible for subsidies. Even after 2 years neither the bank nor the District industries Centre have cleared the request. But bank religiously send reminder to my son every month and threaten that if he does not pay the account will be treated as NPA. When we remind them about the subsidy, they preach that industries should not be started with subsidy as the funding. From their part they don't act and thereby the industry has already lost State subsidy as the application is late and it has become ineligible. Who to be blamed. The entrepreneurs spend most of their time in going around the bankers and licking their shoes. Bankers are arrogant and insensitive. They are the cause for low level industrialization in India. We have excellent potential entrepreneurs. These bankers kill them and rout them from root. I consider this forum as an avenue to express my agony.
Problems should be highlighted in Media
Arun Poddar | Fri Oct 12 04:46:35 2012
I totally agreed to your article towards the CGTSME scheme, which the bankers don't want to hear when an entrepreneur approaches under such loan facility. It's like Balloon, which seems good in view from far. The bankers want only the entrepreneurs who are experienced. The banks only welcome entrepreneurs who are well conversant to Business golden rules and are already reach and wealthy. The matter is a real concern and needs to be highlighted in Media like Satyamev Jayate programme. That's all for now. I shall come up with more of my articles later
thanks
regards. An entrepreneur
Cumbersome procedures, explanations
Supriya MENON | Fri Oct 12 04:06:38 2012
Yes, its true, we small exporters do face problems in providing explanation to the DGFT/Customs and the Bankers.
Our Company is into execution of turnkey projects in and outside India. We avail the Duty Drawback , the DEEC and the Focus Market Scheme.
An Exporter has to furnish the BRC proving the remittance received against the Exports. If we do not provide we need to pay penalty. Though the Government has come with E BRC, even that is not being implemented. Every time for each Invoice, we exporters have to provide the GR Form innumerable times and it takes 20 visits to the Bank & many reminder .
Not only that to prove to the DGFT that export obligation has been met, we have to prove yet again the specification of the import material used in the resultant product. Why, this question is not raised at the time of issuance of the Licence? CE Certificate, the custom attested Invoice-Packing List and the GR truly indicates the import content then why the exporter has to prove the import content. THE DGFT and the customs can directly interact and solve the issue. For a redemption process it takes almost two years. If the DGFT demands for re-certification of the Import Content from the Custom Officer, is this demand legitimate? Custom Assessing Officers have job rotation, how is it possible that the present officer will comply with our requirement! The present customs officer states , self was not there at the time of export therefore, get the certificate from the old office.
Most Commercial Bank Managers are hugely corrupt
HEMANTA R NAIK | Fri Oct 12 03:44:41 2012
Most Commercial Bank Managers are hugely corrupt. Whenever an enterprise try to seek SME funding via working capital or start-up capital, bank manager harass the customer by seeking this paper or that paper, completely against the guidelines set up by the Reserve Bank of India. It happened with me, when I was implementing the Govt of Karnataka supported IT projects in high schools. It is a Govt money around Rs. 50 Lakh plus invested in Infra, but to support the faculty salary and other day today expenses I sought a Bank Loan of Just Rs. 2.5 Lakh but alas ! Term Loan was sanctioned immediately but working capital loan took more than 12 months by that time the project was killed and I lodged complaint with Central Government and State Government authorities but no response. I stop training manpower which was utmost needed for the country. Now I am doing research at national premier institute. Is there a mechanism to bell the fat cat?! Redressal is possible?! There are so many policies and gazette notifications but where is the implementation agency. Where is its mouth, it's face and it's tentacles? ! If it is the fate with the Government supported IT project, a priority sector, what is the fate with common entrepreneur. Let GOD save this country and its country men. ( READY TO SHARE ALL COMMUNICATION PAPERs with Bank Officials and Government). According to me it is a Dead and Dud democracy.
Interest rate - less for luxury, more for businesses
D.Raghvan | Fri Oct 12 01:49:44 2012
As a small business owner I wish to comment on the interest rate charged by the banks to SME. Today, for luxury like cars or home loan bank interest rates are less and for business, which gives life to us and to our people banks charge high interest. Similarly, to get a sanction for our loans it is cumbersome process but for luxury it is very easy to get, this is our govt policy. Please comment on my views.
The whole system is a mockery
Sunil Gupta | Thu Oct 11 23:01:06 2012
It is stupid to even waste one's time discussing this. All the schemes are meant for lining the pockets of Govt Servants or CAs or Tax authorities. I am one who has wasted my life running a SSI. It is not worth it. All large companies take SSIs for a ride. Do not pay in time or pay less. Banks apply the brakes. No money starts all the problems. The disease sets in. You become sick. The Bank goes to DRT. DRT is a Vulture Forum. The Securitisation Act has an element of Rehabilitation. Who wants to rehabilitate? They all want you to die and feed on the carcass.The whole system is a mockery.
Do not complain be part of the system
Anandd Aggarwal | Thu Oct 11 16:42:53 2012
Greeting to editor's story. I wish to add - instead of crying foul every time when things are unfavourable, SMEs have to learn to manage. Same as you manage power shortage, labour problem, machine breakdowns efficiently though these may be many times unexpected. SMEs need to learn to take advantage of Govt schemes in the same way as they do the business. Your debtors do not pay in time and still to sell them your products and manage fund flow. Remove mental blocks that Govt schemes are for select few, alternatively become one of them. It is as simple as that. Do not complain be part of the system and get the benefits.
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Re: Do not complain be part of the system
rajasekar | Sat Apr 13 08:12:52 2013
Spot On...
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A highly disappointing experience with bankers
Ulhas Shah | Thu Oct 11 16:21:43 2012
Your report nicely sums up the daily running/happening(??) stories.
We had applied for loan through Bank of India for buying CNC machine costing Rs. 22 Lac, under CLSSS. Bank of India Manager Officer did not know what is CLSSS!!!
After chasing for 6 months, the loan amount was sanctioned against Mortgage of Industrial Gala-maket Valued Rs. 70 Lac. The gala was purchased by us in 1978 when registration and stamp duty was not mandatory, we never had to pay. Now since bank insisted for registration, the govt authorities are not willing to register, being a property before 1984, since when registration became mandatory.
After running from pillar to post, we had to give up loan efforts, as collateral was not registered. Bank was not willing to adopt this in any other manner.
Finally, we purchased the CNC machines from loans from Friend-Relatives. It has been always a clear indication you get from banks on HOW THE WANT TO SHOW that they want to help but actually, THEY DODGE, heartlessly.
Obvious, that we do not have any connections in Ministry / Banks.
These schemes are only beneficial for the relatives of ministry staff and bank staff, NOT FOR THE BOTTOM layer.
A highly disappointing experience.
Have excellent projects mainly for Exports to USA, orders worth US $ 60,000/- in hand. Is a total blockage from all sides. No point in even describing the experiences. Highly discouraging!! BEWARE...
THe bank acted like Shylock ...
J Chandrasekaran | Thu Oct 11 16:18:34 2012
No not really. I am an innovator with a national award too in my kitty. But the bare fact is some years before, the bank (I do not want to name it) pulled all socks for a month's delay in the loan repayment they have not got in time and threatened to close the unit in 1990s and we had to just sell my brother's marriage jewelery to redeem family pride and cleared the loan, surrendered the shed back to IDC of that state and wound up and moved on to TN, my native. Now what I was doing in 90s is a roaring business in India where crores are involved. Had the bank been bit considerate, unlike Shylock, we could have saved a good business and pride both. Now that I am on my own, run my successful SME with own funds and advances, never ever go to banks for funds, whatever may be the Govt schemes. Also, it is the Govt's job to make single window schemes for SMEs and also have a technical appraisal committee and not a banker giving loan against security. It is only the business risk we SMEs take, major MNCs get their parts on time and still the payment dues to SMEs is another story altogether to write about! Why can't a heavy penalty be levied under rule if an SME is delayed his payment, beyond the P.O payment terms?
CREDENTIAL DONT WORK ONLY MONEY WORKS IN GETTING BANK LOAN
ATAM PARKASH GULATI | Thu Oct 11 15:21:45 2012
Having excellent credentials e-g 1.micro unit 2.village unit. 3.good track record of 20 yrs with the bank. 4.more than 25yrs. experience. 5.science graduate 6.offered property worth rs. 35.00 lac or more as security. 7.existing turnover rs.60.00lac 8.projected turnover rs.81.00 lac 9.provided guarantor with much higher financial than me . . . my limit enhancement proposal from 8.0 lac to 16.0 lac rejected by Syndicate Bank Gurgaon branch without even specifying any reason. Wanted to know the rating assigned by bank for my own case, was denied on record saying these are our (banks) internal documents. Requested/complained to some higher level DGM but flatly refused for anything. So many months passed, the only thing wrong I did was I refused to pay even a single penny as bribe which was demanded from me time and again.
CGTMSE: Met about 10 bank managers, no result
S.Sreekaantha | Thu Oct 11 13:58:55 2012
Hello I am a proprietor of a SSI. I have met about 10 bank managers so far to avail Working capital support without collateral . Nobody supports this scheme. One of the Bank Managers of Bank of India even told me that this scheme is a flop. I am an Engineer and an MBA with rich corporate experience. My company is in growth path. My balance sheet is encouraging. But nobody bothers.
Influential people get subsidy and PMEGP loans early
Praful Muju | Thu Oct 11 13:56:20 2012
Some times there are difficulties in getting benefits of schemes. PMEGP's benefits are delivered after long time. Now govt. has made it mandatory after 3 yrs. Influential people get subsidy and PMEGP loans early as compared to others. And there are lack of funds (subsidy) in PMEGP also.
Plans to break the Backbone
Prashant Rao | Thu Oct 11 10:46:07 2012
Completely agree with your article. The schemes only seem to be a policy discussed in the House. There are very few who enjoy these benefits. No real support for SME'
It is always easy to blame others
Kamalakar Save | Thu Oct 11 10:32:48 2012
Dear sir,
Your last para of article under discussions gives us clear picture why SMEs facing these problems. Our SMEs are either proprietary companies and/or family held companies with limited staff to take care of many day to day activities. Looking at the complex requirements of the Govt. schemes, the failure starts with lack of knowlegeable and experienced people to understand and take suitable correct actions while submitting applications under the schemes.
There is enough exposure of these schemes and those who need to take advantage must go to right department and ask for the entire set of details and work in line with the requirements. It is always easy and a short cut to blame others but we fail to find the limitations and mistakes we make. I think consultants with very good knowledge of these schemes can assist these needy people and SMEs must make use of their services at a little price that may be much more smaller than the price they may be paying for failure.
Negative impact of Anti Corruption Movement?
Vikram Joshi | Thu Oct 11 10:30:07 2012
A little of the subject - this is reference to the article in the DNA today about the PMs comment on the negative impact of the anti corruption movement. I would like to point out the that the MSME / SMEs bear the brunt of the corruption in all aspects of business and the PM by his comments shows how far away he is from the problems on the ground.
Everywhere SMEs face same problems
Geevs | Thu Oct 11 06:31:32 2012
Everywhere we face the same problems, but the govt. does not take any actions, the banks always favor the big and established businesses...
CIBIL reports often inaccurate
Haresh Melwani | Thu Oct 11 06:25:02 2012
CIBIL reports are often inaccurate and adversely effect the credit flow and they are very slow to correct the information. My unit has really suffered because of this.
Same thing is happening in Uganda
Francis .Kabwechere | Wed Oct 10 16:26:23 2012
The same thing is happening in Uganda.What is mentioned in this essay is right! That is the way things are in reality. I am a Business Development Service provider (Consultant)in Uganda and this is what I have to say from my experience since 1992.
1.The Governments need to popularize these grants by informing every body.
2.The officers in charge of disbursements should not allocate these grants to their unqualified relatives and friends.
3.Some of the grants should be accessed by BDS providers on cost share basis so that they can train and re-skill the SB Communities before they access the grants.Subjects should include book keeping,project planning and management,marketing,human resources management e.t.c.The materials and style used should be country tailored and not made from "MARS"
Negative behavior of Banks
Arvind Khanna | Wed Oct 10 14:12:07 2012
The govt representatives from MSME , SIDBI, NSIC & many other departments keep visiting even small cities & expense a lot in sharing the schemes of govt but the behaviour of bankers ( even SBI & PNB )is negative.They never take initiatives in briefing the schemes which they are supposed to pass to the SMEs. If the industry grows the banks automatically grow, the govt also depends on the revenue from Industries & the problem of unemployment also reduces.
Govt Schemes
Mathews | Wed Oct 10 13:44:08 2012
Yes you are 100% right. Most of the people are not aware of the schemes and how to avail them. Even I am in business since many years but am not aware of all schemes or not able to avail any of them. Even my bank took collatoral security of my house for granting a Post shipment Credit Limit of Rs.24.- Lakhs against irrevocable L/C shipments, and the bank refused to sanction SME credit limit of Rs.10 Lakhs without collatoral security, besides they are charging annual fee of Rs.7500.- in addition to several other fees/charges.
Govt. schemes a bigg bluff to new/ old entrepenuers
Karanjit | Wed Oct 10 12:45:37 2012
The govt. schemes are a big Bluff to the small scale industrial units whether they are old or going into expansion, diversification etc.
In Jharkhand the Industry policy declared in 2001 was a step towards industralisation, But non implementation of the recommendations of the Govt. dept one to another was a difficult time for the Units. If the Electricity dept. will not listen to the directives of the High Level Committee on Sick & Closed Units to vaive the interest, and other charges etc Hence the Unit had to pay the dues without getting any benefit as assured by the Industry department.
It was another problem that the division of Bihar into Jharkhand, and Bihar State Financial Corp. dues were to be taken by the Jharkhand Govt. as assured but nothing happened. It was good on the part of Govt. of Bihar decision in relaxing the interest rated under one time settlement programme and many units were happy.
Now when the units in Jharkhand who had liabilities of BSFC, and they had procured money to clear the dues, Jharkhand Govt. instead of helping these Units are not giving any projection to them to run the Units as per these market conditions.
In this state the is no market where customers come like as in Kolkata Delhi Mumbai.where the manufacturers are benefited. This state is only a trading state.The Govt. of Jharkhand should give some schemes to promote local manufacturers to avoid material coming from other states and avoid competition from other state.
CGTMSE loan: This is how banks refuse
Nikhil Garg | Wed Oct 10 11:34:31 2012
I have applied for a CGTMSE loan. I approached to every bank in my city. Let me tell you the reality of every bank:
SBI: We are not covering this scheme.
PNB: You need to be our customer for 10 years if you need such scheme.
BOI: Our Corporate office has issued a circular that there is too much burden on CGTMSE. So we can't.
Allahabad Bank: There is no such scheme.
Vijaya Bank: We will give you loan under CGTMSE only if you mortgage your property.
Corporation Bank: We don't have time to give loans.
SBP: Manager in this bank really helped me to understand this scheme and told me why banks refuse such schemes. But he also refused himself anyway.
Bank of Baroda: If you have any kind of property you are no longer eligible for such scheme.
Now I know about this scheme very well but what can you do when lenders say such things to you when you approach them.
The main reason that banks do not entertain such schemes is that if somebody defaults the loan even the government do not pay to the banks easily. And corruption is also there. So its not only that common people do not know about such schemes but banks and government are the main reason that SMEs do not get benefits of such schemes easily.
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Giving feedback is very essential
Kamalakar Save | Thu Oct 11 10:42:12 2012
Dear Nikhil,
Problems are every where but if we keep quite and keep them with us, they will never be solved. Having known so much about Bank problems, this matter should have been represented to the authority through proper channel like your association. Giving feedback is very essential for the improvements and corrections.
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Re: CGTMSE loan: This is how banks refuse
D.Raghvan | Fri Oct 12 01:57:39 2012
Sir
Kindly visit PNB Regional office people I hope your issue will be solved
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I partially disagree ...
Milind Mundlik | Wed Oct 10 11:28:02 2012
I partially disagree with your opinion. Our company is constantly working to reach the benefits of Energy Audits to SMEs under "Energy Audit at Glance" scheme of Maharashtra Energy Development Agency.
Good records and turnovers, but bank rejects loan application
LATA | Wed Oct 10 11:02:17 2012
Your write up is so very true...I have the same experience . Even after having very good records and turnovers, the bankers refuse to give even small amounts like Rs.3 - 5 lac working capital enhancements after having c.c. with them for three years under the CGTMSE scheme.
It is a pity very bad state of affairs and contradictory to all promises and speeches by the GOVT.
Forget about the schemes; SMEs lack basic neccessaties
Balakrishna Nuthakki | Wed Oct 10 10:38:01 2012
Forget about the schemes, we lack basic necessities like Power and Water. Power cut is bleeding SMEs. Above all Govt is increasing commercial tax and power tariffs.
Bank managers biggest hurdle
N. K.Madhi | Wed Oct 10 10:05:26 2012
CGTMSE scheme is no longer in operation. Govt should immediately re-start it.
The bank manager should be taught lesson. They are the biggest hurdle.
SMEs need mentoring instead of Schemes
Rajesh Khandelwal | Wed Oct 10 09:11:38 2012
I propose that instead of schemes what is needed is the mentoring of start ups in a way that they can withstand the rigors of the start-up process. Hand holding in the first 5 years is important. As soon as any one registers themselves in the MSME they should be trained in the various aspects of business like finance, labour, operations, marketing and general management. They should also be tested for their actual knowledge about the technology in which they wish to enter, any short fall should be supplemented by giving to them what is necessary to make their project a success. For every success there are 100's of failures which should be studied and put up for the next generation to avoid. MSME Officers directly connected with the project should be given negative marks in their confidential reports.
Middleman helped me
Chandrasekhar | Wed Oct 10 08:59:31 2012
Hi readers, i really felt bad to share my experience that i paid rs 2500/- to register my firm ( SSI-PART 1) in Hyderabad. I ailed to get a single word response from the employs of District industries centre. They simply directed me to a broker and I got the approval within a day. He only filled the form and charged Rs 150 for form filling. Regarding govt schemes I could not understand any scheme and tried to meet concerned people many times but unfortunately they are always on leave/busy. The broker outside the office offered me that he can arrange a loan from any govt agency in 3 days if i pay 15% of the loan amount to him. For your information I am a technical graduate and worked in the industry for 13 years at senior management level, and left everything to become a entrepreneur. Hope you understand the current situation in our country.
Whatever sops, Indian SMEs uncompetitive
Suresh Datta | Wed Oct 10 08:37:53 2012
I am based in Hong Kong engaged in garments exports to USA and Europe. I do not buy anything from India so far although I want to and have tried a few times but failed every time. Failed due to quality problems but mainly due to late shipments. Many US and European buyers have said NO to buying from India.
Indian businessmen are smart and educated, but a risky proposition, totally unreliable. Moreover they offer nothing new in fabrics or designing. Go to any Intl fair, lets say in Hong Kong. Every Indian booth looks the same, they have nothing new to offer. Whatever sops the govt may offer to SMEs it adds little value as buyers don't take them seriously.They are not utilizing their strengths, they are no answer to China or other SE Asian countries in this field. The total Garment exports of India last year was about USD 15 Billion, which is not even equal to Li & Fung co of Hong Kong which has a turnover of USD 20 Billion. It saddens me!!
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Re: Whatever sops, Indian SMEs uncompetitive
J Chandrasekaran | Thu Oct 11 16:23:15 2012
Mr. Suresh Datta,
Just your single experience in garment business doesn't give you an opportunity to blame all Indian SMEs in one go. I have done B2B for almost 12 years to US market, on time, all quality, nothing rejected. So stop blaming if you can't scout the right seller.
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Re: Re: Whatever sops, Indian SMEs uncompetitive
Siddharth | Mon Oct 15 05:37:47 2012
i second that Mr.Chandrashekharan.
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Re: Whatever sops, Indian SMEs uncompetitive
naveen | Sat Oct 13 13:56:55 2012
give some information how to improve the garment industry in India,
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MSMEs not fully aware of the schemes
Jacob T. Mathew | Wed Oct 10 08:16:23 2012
In India entrepreneurs are not fully aware of
the schemes aimed to benefit them. Indian MSME owners spends more time on
COMPLIANCE related issues to satisfy the still active INSPECTORS. Little time
is left for them to explore new opportunities and vast info available on the
Net. Banking is still a nightmare for the units exposed to finances less than
one crore rupees. Realization of invoiced money is the next evil. Most of the
buyers, be it private companies, public sector companies of govt are poor pay
masters and wish to delay the release of payment as much as possible. The
Delayed Payment Act has tough teeth, but the MSME units are reluctant to use
that option fearing retaliation from the buyers. This Act may be modified to
make the Payment to MSME units within 30 days mandatory as being followed in
several countries. Unpaid amounts should be reflected in the Balance Sheet of
the buyers and may be disallowed as in the case of EPF, TDS dues etc. Unless
this Law is enacted the stipulation imposed on the foreign Retail Chains to
procure 30% of their purchases from MSME would kill several MSME units. The
Indian retail chains had already caused Fin burden to several MSME units. One
such Chain based in Kerala owes several hundreds of crore of rupees to its
suppliers when it downed the shutters.
Bar code reimbursement - complete documentation but still waiting
Rajesh Daga | Wed Oct 10 07:52:09 2012
I have applied for bar code reimbursement in Jan 2012 with complete documentation and I am still waiting for its credit. I called to Jaipur MSME office they said, budget will be allocated and then it will get credit. Since then I have decided not to opt for govt subsidies as it kills the purpose by long waiting time with interest cost. I am a food processing unit owner which can have almost every subsidy yet I decided not to. Problem it where should I try to ring the bell and who will listen??
These schemes benefit !!!
Kanwarjit | Wed Oct 10 07:48:33 2012
Govt. schemes to benefit SME's? That is news to me. These must be for some Vadra's of export.
PMEGP SCHEME - red-tapism only
N P Kamboj | Wed Oct 10 07:45:32 2012
These schemes are red-tapism only. I am from Amritsar. I have inquired from DIC, Amritsar in the month of August, if loan are sanctioned under this scheme and I was informed that after September it will start. But now October, 2012 is passing, but no such information is available. In the year end these Govt. Departments are crying to clear the targets. How the govt is helping the unemployed youths as they have to wait for the scheme to be launched.
Excellent views: need strict monitoring at every level
Mani | Wed Oct 10 07:14:19 2012
Congratulation for giving your views. In this regard of course banks have a key roll to help SME's but they are doing unfavourable tactics to avoid headaches. Government Industrial departments have a good chance and role in the matter but as you have pointed out red-tapism and such other inactiveness add the fellow SMEs out of the story. First of all, it is necessary to implement a system to ascertain the work done by each government employee and those who finds are not worth for the department and general people having say tortoise movements may be removed from the department and appoint young energetic youths who are able to work hard. Strict supervision may be necessary to find out the policies implemented are reaching to the grass root level and if found inactive, such officials may be removed replacing suitable personnel. Deep studied long standing policies must be implemented. All government offices must be computerized and interconnected from top to grass root levels. Each day work may be ascertained and time scheduling and management must be implemented.
CRISIL rating is nothing but a scam!
Shrikant Parulekar | Wed Oct 10 07:09:53 2012
I fully agree with the above.
I would like to add more
We obtained CRISIL rating.
It was A for finance.
The CRISIL people tom tomed about their rating say that Bankers immediately sanction loans and reduce 1% interest rates if financial rating is high.
My experience:
1. One of the largest Public sector bank manager refused to acknowledge CRISIL report he insisted normal Bank's scrutiny will be done.
One of the major co operative Bank from Mumbai having multi-state status reacted the same way.
One private Bank who has extended CC facility ridiculed this 1% discount in interest thing.
I have come to conclusion that this CRISIL rating is nothing but a scam of earning money by these credit rating agencies.
Schemes reach only the SMEs who bribe
S Kumar | Wed Oct 10 06:54:28 2012
The schemes reach only the SMEs who have paid
money to the respective Govt agencies. NDA or the CONGRESS
Every political party is a
Business Outfit who talk big
but do nothing and ride on the
risk of small entrepreneurs.
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Re: Schemes reach only the SMEs who bribe
Kiran | Wed Oct 10 20:58:24 2012
This is true.
In Gujarat, commercial Bank Managers are requesting bribes for Collateral Free loans.
A total disgrace on India and Government.
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Yes, numerous instances where benefits are denied
Subodh Prahladka email id vpf@mldcgroup.com | Wed Oct 10 06:51:21 2012
Your editorial is absolutely right. There are numerous instances where benefit of the schemes were denied in genuine cases. Details are too long to be shared here.
Old machines, new loans ... CLCSS, VMC corruption everywhere
SARANJEET SINGH | Wed Oct 10 06:40:39 2012
I have also run from Pillar to Post for getting sanctioned a Term Loan of Rs.40 lakhs to set up my business. No bank assured Collateral free loan. These types of schemes sanctioned only through Dalals (touts) wherein they demand bribe of 15-20% of the sanctioned amount, that too in advance. In case of CLCSS, I saw many people taking subsidy on VMC in last more than 05 years. When we forwarded our case, it was rejected saying that VMC has been included in list in Jan-2012 while our loan was of period April 2011. How come many people have enjoyed subsidies in past???? I know such people who purchase Old / scarp machines, repaint it & then with the help of C.A & bank officials, get loan passed worth lakhs & crores. It's people like us who shell every single penny from pocket & set up small units. Upon it, the Govt. levies heavy taxes on monthly basis which have left us with n other choice than to close our units & get back to jobs. The Govt. wants tax on fixed date every month but our customers release our payments after 90-120 days. 25% of our monthly figures goes into Bank Interest. Shame on customers & Govt. Agencies who boast of Supporting SME's.
SIDBI/CLCSS scheme - how I suffered
Vidolkar S.V. | Wed Oct 10 06:40:21 2012
Dear Sir,
As you said the GOVT schemes are good but SMEs need to be educated to take advantages out of those. And govt rules should be more liberal to benefit the SMEs. I am sharing my experience here.
I am proprietor of small scale industry, Aurangabad, Maharashtra. I have purchased new machines & applied for capital subsidy in march 2012. SIDBI has rejected the proposal for late receipt of the proposal. According to SIDBI the proposal need to be reached before 31.03.12 & my proposal reached on 10.04.12
SBH , my bank sent the proposal on 22.03.12 & the proposal has to be submitted by the head office of the bank i.e SBH Hyderabad.The proposal was submitted to SIDBI Lukhnow by SBH Aurangabd vis their head office Hyderabad. It took 19 days to reach SIDBI & delay caused my proposal's rejection.
I want to ask here that am I not eligible for the benefit of the scheme, mere delay in submitting the proposal (& that too not mine fault ) keeping me away from the benefits.
Thank you very much for opportunity to share my story.
Hoping that such stories from different people would make govt to liberalise the rule
I am also taking this issue with our organization
Thanks with warm regards,
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Re: SIDBI/CLCSS scheme - how I suffered
Naveen | Sat Oct 13 14:09:23 2012
I suggest you to file Writ petition before the High court in your jurisdiction. Make party to SIDBI and SBH, call me 9448181912
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CGTMSE is a big farce
Sundar Ranganathan | Wed Oct 10 05:55:18 2012
I approached SBI for a CGTMSE loan for Rs 25 lacs for promoting my patented electronic products, that has wide application. Our last year's turnover was Rs 1.10 Lacs and we already have orders at closeable stage for Rs 25 lacs - we wanted the funds for making the enclosures and initial inventory, without which we cannot close the deals. Yet the bank said that they would have easily funded if we had bought a "Lathe Machine" instead of spending time in developing new technologies!!
These bankers are atrocious. They don't understand new technologies and they only hurt progress of our nation. Ultimately they said they can fund the business for Rs 5 Lacs against collateral of my property, worth Rs 60 Lacs, that too only upon submitting firm customer orders.
CGTMSE is a big farce. All politicos and bankers please stop bluffing around. While you fund Rs 6500 crores to Vijay Mallya without any collateral, for small people like us you put zillion hurdles.
Will DLF give us "advance" a la Robert Vadra to do my business now? Please stop cheating small entrepreneurs - you guys kill me, my employees and their families.
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Asked for a bribe
Kiran | Wed Oct 10 21:00:25 2012
Exactly.
I was asked for a bribe by Bank Managers and also put up my property for a "Collateral Free" loan.
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Banks bury our innovative ideas before they fly up
Mitesh R. Desai | Wed Oct 10 05:48:10 2012
Hello,
You are absolutely correct. I have suffered same kind of feedback from banks.
The govt should appoint an nodal agency to facilitate SMEs for getting banking assistance for smooth start ups.
The innovative ideas are being buried before they fly up.
thanks,
rgds Mitesh Desai.
Schemes are complex, barely 2% of the SMEs can afford
Amal Shah | Wed Oct 10 05:24:01 2012
I run a very successful SME and just do not have the patience or manpower and hence the ability to avail of the benefits for SME's !!! The schemes are to complex and require huge follow up and a full department if one is to take advantage of them. Barely 2% of the SME can afford this
Schemes are hidden from entrepreneurs
Praveen Deshmukh | Wed Oct 10 05:23:07 2012
SME schemes are hidden from the entrepreneurs, they are not reaching to the SMEs and off course the banks are very rigid for the collateral part; they will never introduce the CGTMSE,
it is happening with most of the SMEs, due to which our backbone is not strong.
Promise false schemes and then demand bribes !
Sunil G Mehta, CIPLsun.com | Wed Oct 10 05:14:10 2012
This article shows the real dirty picture of our Industries Dept. They promise false schemes and then demand bribes !! Govt Must not cheat people who work so hard, pay taxes and then allow cheats to run sham scams under the name of SME Benefit Schemes.
In theory it seems all good but in reality it sucks !
Excellent editorial; environment clearance another problem
Dr.Harish Dak, an SME entrepreneur | Wed Oct 10 05:06:51 2012
Needs Simplification of Environment Clearance Act.
The editorial is excellent. An another problem being faced by SMEs is about Environment Clearance. The EC act says that for any industry irrespective of investment, category needs EC for many products and projects. In addition to this, MOEF want that the EIA report should be prepared and submitted by NABET accredited agencies. It is very difficult to get EC for new product / expansion for small project whose investment is ranging in the range of Rs 50 to 100 lacs because of heavy fee in the range of 10 to 15 lacs per EIA report and time required between 1 to 1.5 years.
Because of this fact the SMEs are not developing. This policy needs to be reviewed and made simple and practicable.
Suggestion:- The MOEF should come forward and make guide lines for industrial norms under which an unit can established instead of putting up cumbersome process.
Schemes not reaching SMEs
SUSHILKUMAR J GUPTA | Wed Oct 10 04:54:15 2012
We are a logistics SME and
diversifying into manufacturing activity for which we formed a LLP company and approached
bankers for SME funding, but our set up was not favourable and the proposal
hangs along, if this had worked out favourable then our capital of Rs. 100 lac
would not idle and the project would generate employment to over 50 persons and
engage our families, newly qualified engineer into this business, unless the
project is commissioned we cannot avail other benefits of SME schemes.
In Gujarat everything seems ok, in Maharashtra not
Bharat Thakkar | Wed Oct 10 04:26:29 2012
We have two manufacturing units, one in Maharashtra & another in Gujarat. We had pleasant experience in Gujarat. We found government officer moving with all scheme details and relevant forms with him in upcoming Industrial Zone and under construction plants. Explaining the scheme and helping out to move ahead with availing of benefits. We are getting subsidies in almost due time without repercussion.
But rest, as the situation stands in Maharashtra, scenario is discouraging.
No hope from these schemes
Ishwar Singh Kundu | Wed Oct 10 03:43:47 2012
You said right, I know personally that these schemes are white elephant, only on papers, the actual small entrepreneur can not fulfill their documents etc. Officers also don't care small entrepreneurs, so I haven't any hope from these schemes.
No guidance, schemes reach only elites
Kavitha Rajeev Kumar | Wed Oct 10 03:08:04 2012
I am a housewife who intended to start an SME of Chocolate making. Over the last 5 years, I have knocked the doors of various organisation which the govt claim to extend help and guidance to the SMEs, but had not succeeded to obtain proper/required guidance or assistance of any kind. My experience has shown that most of the schemes meant for SMEs reach the elite or influential. I have not even got certain information pertaining to the procedures for applying for licenses, approvals and financial schemes. Even after five years I stand from where I started, without approvals, licences and certifications. My experience had been bad and sometimes I had wondered why the concerned officials are not in a position to give proper guidance. Most are not even aware of the exact procedures.
No list of required documents, no site visit, no meeting, no forum ...
Bikash Kumar Agarwalla | Tue Oct 9 20:34:48 2012
Respected Sir,
In our area of Mayurbhanj (Karanjia) there are 30 odd SSI are functioning and almost maximum of them were being helped by the 1997 IPR of Orissa govt. then. Till now not a single benefit has reached us.
My personal problems are,
1) Not a single banker gives a complete checklist of documents to be submitted,2) They do not give time to visit our sites,3) Our DIC's never conduct any meeting with us,4) There is not a competent forum for our problems. You have rightfully and fully explained the situation. Hope you and your team keep the fire alive in hearts for such cause till they are achieved.
Pay bribe to DIC officer, Bank Loan Office and Bank Manager, and get loans
Kumar S | Tue Oct 9 18:57:20 2012
Till you dont offer some bribe to DIC officer and Bank Loan Office and Bank Manager, Loan/Finance in India is merely possible.
Any one who offer bribe can easily get the loan, Without help of mediator, it is not possible to get the loan. I have some personal known companies who got loans in tune of 30 crores, even the GM, DGM every one is knowing that the company is in loss and only on paper it is profit making. I have also some stories that in spite of very good proposal and very good track records of promoters, the company even after getting sanction letter and even after mortgage of property, didn't get disbursement of the funds
ONLY GO TO ANY AGENT, AND AVAIL THE LOAN
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Re: Pay bribe to DIC officer, Bank Loan Office and Bank Manager, and get loans
kumar | Mon Mar 11 15:35:01 2013
Hi, sir or madam,
i'm kumar from choolaimedu i need a business loan for pmegp loans, pls sir my family is poor family & i was started in systems business so, i am only thinking in business & my contact no - 91-44-9840813598 & 9940301598.
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Started biz in 2008, no subsidy till now under Central Capital Subsidy scheme
Abhishek Surana | Tue Oct 9 18:07:15 2012
We started a Small Scale Industry in the state of Tripura in the year 2008, and were supposed to receive subsidy under the Central Capital Subsidy scheme for North Eastern states. But till date even after the subsidy has been approved by concerned ministry, but we are yet to get the Subsidy.
Every scheme runs for benefit of political parties and babus
Dilip Jhaveri | Tue Oct 9 17:01:40 2012
Every scheme runs for the benefit of the political parties and the Babus. Does anyone ask why SMEs do not prosper?
I sent some samples by Post Office from USA to Mumbai. After 3 weeks we paid Rs.5000 to postal worker to get it out. He refused to pay receipt. I would have gladly paid the same to customs though the value of the samples was just Rs.6,000. What to do next? Give up on India? It is these hassles and delays that stop SMEs a big push.
Most of things are what it not should be ... banks are horrible on CTGSME
Rajesh Khatri , MES India | Tue Oct 9 15:31:13 2012
It's mixed but most of things are not what it should be, many State Govt rejects tender of SSI units under different reasons , Banks are horrible on CTGSME , they are just not lending , and wherever they are lending they are sucking your all blood
SBI refused to give pre shipment credit; but political influence works
Vijayakumar Samuel | Tue Oct 9 15:07:06 2012
The policy makers have given out the plan/ schemes but the implementing agencies especially the banks are dragging their feet. I have lost export orders and the buyer is reluctant to place order because I could not finance an export shipment for which he had opened an irrevocable letter of credit. Now the order is being fulfilled from Vietnam . Reason SBI refused to give pre shipment credit against Irrevocable letter of credit. Now it is 6 months they are toying with my application citing some CIBIL remarks which I have got it cleared, but where as another friend of mine used a political influence got his facility sanctioned for local business deals. So if you have the right connection all the schemes and even the schemes not published will work.
Am I eligible for central subsidy
KUMARPAL | Tue Oct 9 14:52:22 2012
Sir our plant has started commercial production on 12-7-2010 am I eligible for central subsidy. I am interested in monthly magazine/daily news paper of SME times for which we will pay.
Govt schemes - are they reaching SMEs
Satyendra Kumar Tiwari | Tue Oct 9 14:48:20 2012
Dont know about all but the cheap ration has made a very big difference in peoples life. All those below poverty line people are getting Rice Rs 2/ kg and wheat Rs 3/ per kg or vice versa. After this they dont need to go and look for work. Most of them dont go either. Is this not making them lazy? Is this not the wastage of human force?? Human working days are getting less and less in rural India. Small farmers registered in BPL dont take any pain of working in fields to grow Rice and wheat because they get it cheaper any way without any hard work. What the country (Govt) is doing?? We have more people surviving on subsidy than before. 32 Rs bar for BPL is perfect. People who eat Dal chaaval and Roti they can very well survive in 32 Rs. Just see in villages people dont grow Vegetables on fence now?? Why?? Only Govt can change their attitute. Every state Govt is spending money in feeding these rodents and taxpayers are refused from basic amenities like Road and Electricity.
Unawareness & lack of cooperation of financial agencies
Dhiraj Sakhia | Tue Oct 9 14:37:18 2012
I liked this article in which real fact is observed and presented in write way.I really appreciate. Looking above all facts the role of bank/ FI in more poor and sad. Even after submitting all documents within time limit, they fail to forward them in time to concerned nodal agencies and ultimately the beneficiary cannot be benefited. So, Govt should press to Banks/ FIs to pay attention to follow the matters strictly so that micro/small industries can avail the benefits of such schemes.
No publicity of CGTMSE scheme
Karry | Tue Oct 9 13:34:14 2012
I agree with the article that there is no publicity of this scheme. And the bankers don't even know there is such option in there limits. Even after we educate them about the scheme, they are not ready to support any new projects that are abiding the rules & policies that have been enlisted by the CGTMSE scheme.
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Re: No publicity of CGTMSE scheme
Harish Garg | Thu Aug 20 14:46:41 2015
Today we are victims of financial institutions who are not giving collateral free loans as described by MSME govt. Of India. So let's join hands to protest. Please like my facebook page " Cgtmse_loan_not_given_bybanks "
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Re: Re: No publicity of CGTMSE scheme
Samir chakraborty | Wed Sep 14 09:03:41 2016
Same to you
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