The industry is ruled by banias. The reservation system have created good number of SC/ST professionals. Whoever now wants to do business, may be given soft loans, equity assistance. I suggest a venture capital fund especially be created for them.
Indians on the whole are not very honest and forthcoming.laws in india are non existant.There is no law to quickly recover and attach properties of defaulter.cases are dragged by corrupt lawyers for years.Judges dont bother.You cant get your own house vacated for decades.The judciary is most inefficient and frauduelent in india.there should be a comprehensive act for fianncial recovery of all kinds with time limit and summary proceedings,attachment of properties and involvement of police by court to find and seal proeprties after givcing one chance to hear accused party.if this iosdone the finacing companies will take more risk. Government shuld give quick financial aid through private consultants to be appointed in industrial centers at distrivct level who understamnd business and can monitor the loanee for 2 years.Canada has good model.sdtudy it and implement.merely talking lofty wont help.Why banks should today risk money?No one pays back without collaterla.Even then also people drag cases for years.many disappear.The financial recovery should be converted to crminal case after 6 months of decree are exhausted and party does not pay up.put the guys behinf bars til they pay and attach all properties belonging to self and spouse and children(dependent)
I sincerely regret to say that NSIC has done justice to thier job and helping SSI's is only a myth. Yes it is a fact that hand holding is very much necessary for first generation from the banks and further from the local govt Industries dept. It is very unfortunate that many of the govt sectors and dept are openly having step mother attitude towards SSI's. further NSIC has done nothing compared to no; of SSI's in the country which can be found from thier membership and loans dispersed. regards shivanand shenoy bangalore
Yes, new generation gets difficulty in getting loans. Nationalised banks ask first the collateral security, non nationalised banks, if give business loan, their interest rate is very high say 18% or more. which is not viable. Some system is to be evolved for small scale and tiny units in order to boost employment and industry.
