HDFC Loan Meet! Industrialist Sudhakar Shetty bats for ease of banking
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S Sudhakar Shetty
Mysuru: Industrialist Sudhakar S Shetty inaugurated a loan meet organised by HDFC Bank in the city.
Shetty a former chairman of Federation of Karnataka Chamber of Commerce and Industries ( FKCCI) said “Unlike foreign countries, it is difficult for the industrialists in the country to obtain loans at the rate of interest offered by the banks here. The banks in general should ask Reserve Bank of India to change its policy on the lines of foreign banks”.
Shetty said banking sector plays a key role in the progress of any business. It is only when the banks lend money, the entrepreneurs can start a business and also create jobs for others.
What’s annoying these days is the lack of cordial relationship between banks and loanees. Soon after sanctioning the loan, the banks hand over the case to collection wing. It has been resulting in harassment to loanees. Instead, banks should maintain both loan and collection wings.
While advancing loans, CIBIL score should not be the only criterion. In some cases, if any loan applicant has given surety or collateral, the ratings will change blurring the possibilities of getting loan. Instead, loans should be considered on the basis of business and businessman, urged Shetty.
Hotel Owners Association president C Narayan Gowda, Jayapal from The Cosmopolitan Club, Prakash, Sripad Rao and Srinath were present.
– Team Mysoorunews
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