subject: Revival of Business start up loans in India [print this page] Revival of Business start up loans in India
The loans market in India has seen an absolute change and the future look quite vivid. The emergence of banking and financial institutions has just reduced the gap between "needs" and "fulfillment".
If one has a close look at the personal loan market in India, he can easily identify the recent resurgence into the attitude and preferences of bankers as well as banking customers. The resurgence has been further bolstered by the favorable policies of Indian government and valuable support from the Reserve Bank of India (RBI). To add to that, the arrival of new market players such as Barclays and the growing competition have benefited the Indian economy to leap ahead with big steps.
These days, more and more people are looking to enjoy the real benefits of personal loans. India, as a growing economy with a huge potential, is looking quite positive with acclaims from all quarters of the global financial market. Just like the personal loans, the business start up loans have also seen the ray of light in the Indian market, all thanks to continuing efforts and perseverance of bankers and financial institutions. Now, more and more budding entrepreneurs are aspiring to become successful entrepreneurs with feasible financial opportunities at the right time and at the lowest rates of interest.
With banks and financial institutions such as the ICICI Bank, State Bank of India, State Bank of Bikaner & Jaipur coming good with robust financial results and a much-desired changed attitude towards the customers, hopes of prosperity are nourished with the 'right touch'. With the advent of online banking and online loan application forms reaching the masses and prospective borrowers applying in a huge number, the market is quite upbeat when it comes to Personal Loan and Business start up loans in India.
Recent downfall of the US and UK economies has not left much of an impression on the Indian market. Despite these shaking financial market disasters, the markets of business start up loans and personal loans have failed to dip down. The tremors associated with collapse of big names such as the Lehman Brothers and HBOS were obviously felt but that has not deterred the Indian entrepreneurs to make new movements in the right direction. With many eminent names, belonging to the Indian economy, taking over some of the world's best organisations in the recent past and the position of Rupee against Dollar finally coming good, the Indian economy can finally enjoy a sigh of relief.
In an aim to create as well as to maintain self-sufficiency on itself rather on outside influential forces, the Indian government has formulated many noteworthy plans and policies to have an 'edge' over the other world economies. The recent appointment of Yaga Venugopal Reddy as the 21st governor of the Reserve Bank of India succeeding Bimal Jalan, has been an influential factor in bringing stability to the rupee besides helping in the economy's movement towards a soft interest rate regime, thanks to his astute macro-economic management. The five-year stint right at the beginning for Reddy has surely given the right signals of `continuity and stability' to the Indian market and entrepreneurs viewing India as a possible venue for businesses.
It would not be wrong to predict that the Indian banking and financial segments are on the right road towards self-sufficiency and eventually towards overall economic prosperity. The Indian markets just need to sustain the good work previously done and if that can be done then there is just no looking back. One cannot forget the fact that India has now graduated to a lender nation from a debtor country to the International Monetary Fund(IMF).
With amicable opportunities and possibly the floodgates open for the segments of Personal Loans and Business start up loans in India, there is so much to look ahead for.
