FICO organises seminar on Importance of Credit Rating to Banking Finance
Author(s): City Air NewsFICO president Gurmeet Singh Kular addressing a seminar on `Importance of Credit Rating to Banking Finance’ at Ludhiana on Saturday. Ludhiana, February 8, 2014: FICO on Saturday organised a seminar on `Importance...
cityairnews
Feb 8, 2014 12:30
0
FICO president Gurmeet Singh Kular addressing a seminar on `Importance of Credit Rating to Banking Finance’ at Ludhiana on Saturday.
Ludhiana, February 8, 2014: FICO on Saturday organised a seminar on `Importance of Credit Rating to Banking Finance’ at a local hotel.
In the seminar, Gurmeet Singh Kular, President, Federation of Industrial & Commercial Organisation (FICO) thanked to the Smeera Ratings Ltd & Indian overseas Bank for organising the event to facilitate the industry.
In his address, Kular highlighted the issues as under:
CGTSME Loans: Under CGTSME Schemes collateral free loans should be given to MSME sector because MSME industry is the backbone of the industry & this industry do not have collateral security to take Loans.
Focus on MSME Industries: 5% reduced rate of interest should be given to Micro & Small industry machinery MTL as they are creating huge revenue to the government.
Comparison of Credit Rating: Banks should not compare MSME units with large units as they have their brands but small scale do not have brands that is why they do not have the profits same as large units.
Processing & hidden Charges: MSME industry should also be exempted from processing charges & book keeping fees.
KK Seth, Chairman, FICO suggests to Naval Gupta GM Indian Overseas Bank that a special loan to the bicycle cluster of 100 units should be given as Technology Upgrading Fund (TUF) in the shape of loan to upgrade & save the mother industries of Punjab.
Naval Gupta assured the industrialists that the MSME sector will be focused & is on the priority of their bank.
Harjeet singh Sondh, Manjinder Singh Sachdeva, Rajiv Jain, Balbir Singh Mankoo, Jagatvir Singh, Harpal Singh Bhamber, Satnam Singh Makkar, Gurcharan Singh Kular and Rajesh Mongia were among those present.//ludhiana news online, ludhiana news in English, ludhiana news, ludhiana current news, ludhiana news live, Ludhiana breaking news, Ludhiana headlines, Ludhiana latest news, punjab news, india news, punjab news live, punjab news online, punjab news, punjab news headlines, punjab breaking news, india news, punjab news,
