Affordable and Adequate Credit without collateral remains a challenge: malhotra

Faridabad(standard news/manoj bhardwaj)….Affordable and Adequate Credit without collateral remains a challenge for MSMEs – said President Mr. J.P. Malhotra in his welcome address at Interactive Session on Banking Finance Options – Innovative Services and GST – Policy & Tax Planning organised by DLF Industries Association and Deutsche Bank on 22nd February. Amount of NPAs of MSMEs is less than that of large units but still the Banks are hesitant to lend wholeheartedly to MSMEs. The mindset/fear of the bank officers needs to be changed at operation level.Mr. Amit Gupta, Area Head Deutsche Bank in his presentation appreciated the need of finance for growth of MSMEs and offered innovative services and schemes of Deutsche Bank which could ultimately lower the cost of credit. Deutsche Bank offers composite banking options and is one of the world’s largest banks with presence all over the world and has been operating for more than 130 years. Mr. Amit Gupta offered creative solutions/logical rate of interest and cost of services which is customized as per the credit size of MSMEs. He openly welcomed the idea of Mr. J.P Malhotra that Deutsche Bank would like to offer special services and terms to MSMEs within FERA/RBI guidelines. Though there are few branches but leveraging technology provides efficient services to the clients.CA Nagesh Bajaj, noted expert on GST gave a concise and clear presentation on concepts of GST and advised the participants to be prepared, the time is running out and we have to be GST ready which is bound to transform the microlevel benefits into macro economy in terms of Increased Economic Activities, Filip to making India as manufacturing hub, Generation of Employment and Neutralizing of Tax to make our exports competitive.CA Rtn. Vinay Bhatia, DGN RID 3011 in his presiding remarks appreciated the organisation of such an Interactive Session by DLF Industries Association. He suggested the participants that GST would benefit Industrial Tax Payers. Talking about Rotary, Rtn. Vinay Bhatia said that one of the most organised and transparent International NGO, Rotary touches human life all over the continent through community need based services and follow the Rotary philosophy of 4-Way Test.Mr. Vijay Raghavan proposed Vote of Thanks. Prominent among those present were S/Sh. T.C. Dhawan, Ravi Jindal, Sunil Gupta, K.K. Nangia, Sudhir Jaini, P.J.S Sarna, Amarjeet Singh Lamba, H.L. Bhutani, M.K Mehtani, S.C. Gulati, Subhash Chander, Ravi Bhushan Khatri, Kuldeep Singh, Sanjay Goyal, Amit Joneja, Mohit Anand Bhatia, J.C. Ahlawat, Hemant Malhotra, Rakesh Jain, Rajesh Mendiratta, Mohit Agarwal, Jagdeep Kumar.President J.P. Malhotra thanked Deutsche Bank Team, CA Nagesh Bajaj and DGN Rtn. Vinay Bhatia for sparing their valuable time and grace the session