Daily Archives: June 3, 2008

Banking psychology in India


I happened to read the Indian Finance minister,s announcement recently, about lending credit liberally to MSE’s (micro small enterprises ).I was amused .A finance minister advising banks to
lend to MSE’s citing the reason that they are decent job providers.A very late revelation MR Palaniappan Chidambaram.
MSE,s suferred because of the non chalant attitude of financial institutions.
Many entrepeneurs succumbed to the woes.Most of them have disappeared from the scenario,few of them have vanished from this hostile world.
When agriculturists ,commit suicide ,there is a great hue and cry.Politicians ,yell,that agriculture is the back bone of our country,media gives wide publicity, by photographing the farmer’s widow and his children.Men in power, rush to the spot offering myriad waivers
Many MSE’s and their promoters eat a humble pie. They are in the clutches of private money lenders , as the minister has rightly pointed out. No one is bothered about their difficulties.instead MSE’s are wrecked by high rate of interest,statuatory obligations,tax,and other formalities.
My request ,to the Finace Minister,is that his call though very late should be put into action.
The financial institutions should pay heed to the FM’s call and act at once
I end up with Abu Ben Adam’s words “May your tribe increase” with a slight modification
May Mse’s increase,thus bringing prosperity to the nation