Smart Finance for Smart SMEs
19 May, 2017
Banks are feeling constrained under the new RBI norms for NPAs. This was said by the Director, External Affairs, Power2SME â€“ H. P. Kumar. He was speaking at the ASSOCHAMâ€™s conference on Smart Financing for Smart SMEs in New Delhi. He added that since the situation demands such measures, the banks must follow the rules. Addressing the gathering Vice President for Business Development, Capital Float â€“ Vaibhav Singh observed that humans accumulated and stored enormous data during recent years. He added that today lenders can leverage all sorts of data to better assess the credit worthiness of prospective clients. Also present on the occasion was the Regional Head â€“ North for SMEs, Hero Fincorp â€“ Parminder Singh Cheema who noted that the there was great demand for finance for SMEs. He stated that SMEs are vulnerable not only to over-financing but also under-financing. He also pointed out the role that NBFCs can play in providing SMEs with access to capital. The event also saw extensive deliberations on the â€œChanging Dynamics of SME Financingâ€ Prominent dignitaries that graced the occasion included General Manager for SMEs, SBIâ€“ Ajay Kumar Khanna; Director of Resurgent India â€“ K. K. Gupta; Chief Manager for Business Banking and SME, IDFC Bank â€“ Ranjith Nair; and Senior Member, MSME Council, ASSOCHAM â€“ M R Gupta besides others.