Editor's Insights

States in mess, banks in puzzle : Farm loan waiver is farmers` trap

With farm loan waiver, if our politicians are really aiming a better living for our farmers, who work for making our country food abundant, then they must rethink about this huge task. Loan waiver is counterproductive and in a real sense, it is an anti-farmer gesture. The “write-off” offer makes the farmer's life-time defaulter and leads to worsening their character. Farmers naturally stop repaying with an anticipation that the loan would be written off since a new government comes in. That makes farmers default and spoil their creditworthiness eventually. Let the farmers not get carried away by such promises. The world has gone much ahead. Yet our honorable politicians are reluctant to understand some facts. They are seemingly unwilling to stay out of the box of old thinki...

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MSME Special

Union Bank of India: Centurion with a modern face

Specialised officers who are trained internally take care of MSME vertical to ensure that the ultimate connotation is achieved. The saral centres are working at various regional offices. Currently, Union Bank's MSME asset size stands around Rs69,000crore. Technology equipped operational system, App-based dealing comforts, quick response to the changes taking place in the market, simplification of processes and systems through platforms like Saral, etc make the bank a comfortable destination for MSME transactions including credits. The bank has been growing at the rate of close to 10 per cent in MSME business. Transparent and professionally-run MSMEs can always find timely credit supports from commercial banks in better terms to the extent they would require, though credit is not the so...

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