Inter Bank Creditors Agreement
Todays Editorial of Economic times, Hyderabad is in favour of above.
This will definitely help large borrowers, may be above 50 or 100cr.
But, how this will help MSME? Average ticket size of MSME may below 5cr but employment in this sector is very high.
As being small ticket size, it is dealt at the very low level, many times at Chief Manager or regional office. Many times I pity the Chief Manager, as they have to deal with many issues and they are not able to allocate time for resolving the issues.
Even, when a borrower request to refer his case for a corrective action plan, he thinks a unit needs further funds, where is the justification? when referred to the regional office, they wash their hands saying that it is in his power. So pursue him.
Can my readers suggest any viable solutions?