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RBI urges banks to provide advisory services to SMEs
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SME Times News Bureau | 06 Feb, 2012
Banks should strengthen their relationship with the small and medium enterprise (SME) sector by providing the small firms advisory services on a range of financial areas, said a top official from the Reserve Bank of India.
Speaking at an industry seminar organised by the SME Chamber of India in Mumbai over the weekend, RBI deputy governor KC Chakrabarty said that banks, which have long-term association with such SMEs as lending partners, can further this relationship by providing consultancy on finance, cash-flow management, taxation and other related things for a fee.
A desk should be available centrally that will help SMEs and can handle multiple SMEs, he added.
“An SME-promoter knows the product, but he doesn’t know finance,” he is quoted as saying by a news agency report.
“I think this is a product innovation, which needs to be done by banks and it needs to be done across the globe,” he added.
He also came down hard on the high interest rates charged by banks in lending to SMEs, asking if they can be compared with rates charged to corporates. As a matter of proper governance, Chakrabarty said, "I will be happy if banks disclose this in the balance sheet."
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A great approach
Parmeshwar | Wed Feb 15 15:38:12 2012
This would be a great approach towards the development of the country and in the SME division if the banks accept these things.
Not treating house as a security and claiming that they are not doing KUDUVA VYAPARAM (Not providing loan by keeping some thing as securtiy)
S. Sudarsana Babu, Hindupur. 9440988732 | Fri Feb 10 06:10:45 2012
Once in 2004-05 financial year I purchased a house which was constructed in 1981. After purchasing I planned to renovate it. At the same time, the laser printer gone bad. (It belongs to my small printing press) When I asked, the then manager of Andhra bank, Hindupur Branch, Anantapur Dist. A.P. to provide some financial assistance about Rs. 50 K either for purchasing a laser printer or to renovate the house by treating my newly purchased house as security. These are the golden and ever forgetting words by the Manager. At the same time, a person who was a defaulter and asked to pay within 3 instlments by lokadalath, when he came to the bank for paying partial payment to his second instalment he simply suggesed him to give a letter for saying his disability for paying third instalment (FOR FULL MOFY OF THIRD INSTALMENT) by paying the second part of the second instalment. THOUGH THE PARTY IS CAPABLE OF PAYING AND HE DID NOT URGED OR ASKED FOR. This is the most welcoming behaviour of the most managers of many banks.
Financial Aids For MSME
Raman Khanna | Wed Feb 8 18:16:00 2012
I am an IIT Pass out & running my own Manufacturing Unit of Commercial Kitchen , Refrigeration, Medical & Hospital Equipments with the Brand name of NOBLE KITCHEN EQUIPMENTS AND I NEED FINANCIAL ASSISTANCE for upgrading my quality of my Products by getting them made from latest CNC ,LASER ,& HYDRAULIC MACHINES also i need funds to Market well to my Products please help me to know how & what is the procedure to get Financial Aid
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