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RBI, bankers for introducing transparent credit system for MSMEs
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SME Times News Bureau | 16 Jan, 2013
To streamline credit flow to micro, small and medium enterprises (MSMEs) and to ensure that
rightful company gets the credit, bankers and Reserve Bank of India (RBI) Tuesday discussed
introducing a transparent system for SME loan proposals, reports media.
"We
discussed to put a proposal tracking system in place, give
acknowledgement and SMS facilities to an applicant," Punjab National
Bank CMD and industry body Indian Banks Association's Chairman K R
Kamath told reporters outside the RBI headquarters in Mumbai.
As
part of an earlier policy decision to look into the concerns surrounding
the flow of credit to micro, small and medium enterprises (MSMEs),
Deputy Governor K C Chakrabarty held a meeting with Chief Executives of
banks this evening.
"Various ways, in which the borrowers or
applicants will feel that there is a response from the banks and
bankers, will be put in place for monitoring the entire flow" were
discussed at the meeting, Kamath added.
Corporation Bank Chairman
and Managing Director Ajai Kumar said to give a thrust to the credit
flow to the key sector, there is a need to have transparent systems in
place.
"How to create structures and processes so that there is
more transparency and applications are properly tracked, no application
is rejected without any reason and there is a proper monitoring system
at the level of the bank, were among the issues which were deliberated
upon," he said.
HDFC Bank Managing Director Aditya Puri said
given the importance of the sector, bankers have agreed to take all
necessary steps to strengthen the credit flow.
"We will double
the effort to push growth and provide enough support to the MSME
sector...They need more credit and help and bankers have agreed," he
said.
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Loans
Raj | Fri Feb 1 05:25:02 2013
Were is it for the needy? only for those who is willing to cheat and share his boot with the authorities will get it. Big corporates can stay without paying EB bill , loans , tax etc for years together. not any indl who is willing to start SME
Transparent Credit Sytsem
Ram | Wed Jan 30 07:04:49 2013
Sir im very interested to set up my own Food Processing Business...but its very difficult to get loan from the Banker, as we have son many hurdles to cross even at the end there is no guarantee, we will get the loan from the Banker.. Kindly give us a chance to establish me business to survive... a proper business plan is enough to set up...
Syatem of Transperancy.
D.Ram Reddy | Wed Jan 30 06:57:33 2013
I look forward for this type of system, which is really helpful for the SME's who can have their Business Transformation alive...
Doing business is a curse for new entrants without enough money.
Satish | Thu Jan 24 10:37:50 2013
Doing business is a curse for new entrants without enough money. It is true that any new entrant in to business will have to undergo hell a lot of hurdles, difficulties and humiliation and getting finance and sustain the business till it picks up is a hell especially for new products & new companies. The Indian mindset & system plays a bigger role here, but no government policy is good enough or encouraging.
Transparent credit system for MSME
P.M.Vijayakumar Samuel | Wed Jan 23 05:26:18 2013
Sir
It is not sufficient to have only a tracking and transparent system but there must be a grievance redressal system. The public sector banks have different policies and practices between MSME and Large clients when it comes to credit handling.One such good example is Kingfisher Airlines and there are many more under the Banks carpets.Rules and Ratios are applied for MSME credit but for the large clients everything is brushed aside.The manager in charge of MSME Credit in SBI HQ Bangalore told me that this is public money so he cannot take it and simply give away, which is what their Chairman has done just given away to KFA. Who can you complain to and who can you ask ?
collateral free funding
Rajkumar Agarwal | Wed Jan 16 17:02:25 2013
I am interested to set up a food processing unit. But banks are not willing to provide finance under CGTMSE scheme.
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Re: collateral free funding
P.M.Vijayakumar Samuel, Bangalore | Wed Jan 23 05:40:16 2013
Sir even with collateral the banks are unwilling to fund,they are interested only in car loans may be because the car manufacturers have greasy understanding with the bankers. I have applied for a CC facility against my Export L/C giving additional collateral of my house worth 1.20Cr.for a meager sum of 15L, SBI is dragging its feet for the last 8months and in my last visit I was told to approach some other bank in the meantime my buyer got tired of me asking for advance TT and stopped giving me orders I have now joined the ranks of unemployed. I think writing to SME times is also useless as No Bankers read this. There is only one option left out if my buyer agrees to give me another try then apply for GREASE try application through their favourite Go getter (tout) ask your Banker who he could be
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