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2011-04-21

SMEs needs to be more transparent

However, he added that SMEs have to gear up their operations to become more professional, transparent, compliable to rules and norms and should part with authentic information to facilitate timely and

SMEs need to be more transparent and compliable to rules to help banks and financial institutions for timely and adequate sanctioning and disbursal of credit, said Oriental Bank of Commerce (OBC) CMD, Nagesh Pydah recently.

The SMEs will see greater flow of credit from banks and financial institutions to meet their term and working capital requirements, Pydah said while talking at an interactive session organized by the Council of Small and Medium Enterprises Tuesday evening in New Delhi.

However, he added that SMEs have to gear up their operations to become more professional, transparent, compliable to rules and norms and should part with authentic information to facilitate timely and adequate sanctioning and disbursal of credit.

Credit rating done by external agencies for speedy processing of credit applications will help, he advised SMEs.

Pyadh countered the argument that there is a general perception as evidenced in surveys and studies that the SME sector is, by and large, disappointed by the outlook of public sector banks and institutions towards them.

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