The problem of NPA or as acronym-ed Non performing asset is becoming a major loan settlement threat to Indian economy and it's mainly on the MSME side. When it comes to a situation relating to NPA; MSME owners get really petrified as in when compared to large corporates sector.
Here are a few possible solutions:
On September 28, 2018 our finance minister Mr. Arun Jaitley launched a new portal to fast-track the loan process. The loans can be approved within 59 minutes with an amount of 1 crore for the MSME sector. The business only needs to submit GST and income tax details without the entrepreneur have to visit the banking branch.
Interest Rates And Collateral
- Now most of the entrepreneurs have a common mindset that whenever bank grants loan to them. They have granted some favours on the MSME entrepreneurs without making
them realise the rate of interest charged on them is pretty much higher rate when compared to other corporate's. The amount of collateral's kept for providing loan is also pretty
With such a huge amount of loan the common MSME entrepreneur rather than focusing on the business keeps getting distracted by pressure inferred to them by the banks.
Forgetting the primitive ideology that the bank is for the business and not the other way round.
- This problem can be solved only when the entrepreneur will focus on his business, rather than focusing on the repayment of installment for the loan. There are many legal ways to buy time to delay and Dr. Viswaas Paanse has helped many MSME owners for the same. He says, “ Focus on the business and the leave the bank problems on the experts”.
About Dr. Viswaas Paanse
- He is an Ex banker man holding a PH.D degree from United Kingdom (U.K) and many more degrees aside from that. Having 2 decades of experience in NPA. Dr. Paanse is a thorough professional when it comes into dealing with NPA and have helped in revival of many sick MSME with his experience and qualified team members.