The economic slowdown has forced all the financial institutions to realise the status of business.
It has reopened the Pandora’s Box. Out emerge the frauds, cheats, misappropriation, rigging, fudging and collapse.
The lobbyists, the politicians,and the chief executives have gained in the process , by looting the nation.
The banks have been advised to cut the interest rates to promote business.To make the nation prosperous ,we need steps severe. Rate cut is a welcome sign.Industries and business have to come out of the blue. Diminishing the interest rate will help the manufacturing projects . Banks should also extend facilities to them. At present banks have restricted their sanctions, as they fear the competitiveness of industries.
Easy finance with facile rates will give a jump to business. The sanctions should be planned according to the merit of the case.Scrutinising the projections,developing a rapport with the promoters,investigating the background of the people behind,are all necessary etiquettes that the bankers should take care off. Once they are satisfied with these formalities ,the loans should be advanced at the earliest, with comfortable progressions and schedule.
Regulations should be switched on, but the supervision should be subtle ,not stifling and suffocating.A regular flow of funds ,with nominal interest will enthuse the indusries. They will repay the loan with interest in appointed hour .
We look forward for similar outright remittance and free business not limited by deceit and control.