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Journals >>
Management
The IUP Journal of Enterpreneurship Development

March' 08
Articles

Financing Small Enterprises: Recent Trends

-- B Sobha Rani and D Koteswara Rao

Small and Medium Enterprise (SME) sector is a vibrant and dynamic one, and an engine of growth for the present millennium. Financing of Micro and Small Enterprises (MSEs), which is part of the SME sector, has been given special attention by banks and financial institutions, and is included in priority sector lending. In spite of the special efforts, only 14.3% of registered small enterprises have availed institutional credit, as per the 3rd All India Census of Small Scale Industries of 2001-02. From 2000 to 2004, institutional credit for MSEs has shown disturbing trends, despite the high level of liquidity in the banking system and the initiatives taken by the Union Government and Reserve Bank of India (RBI). This paper examines the recent trends in credit flow to MSEs, in particular, and medium enterprises, in a limited way, from commercial banks and the Small Industries Development Bank of India (SIDBI), and outlines the recommendations of A S Ganguly Working Group and Internal Group chaired by C S Murthy. The Union Finance Ministry's directive to public sector banks is to double the credit flow to SMEs during the five-year period 2005-10. The year, 2005-06 has shown good progress in this direction. The task is to be pursued vigorously in the next four years, of which 2006-07 has been completed with encouraging performance. Innovative approaches and directions for the future are presented in the paper. SMEs need special treatment through devising special instruments of credit for strengthening their competitiveness.

© 2008 IUP . All Rights Reserved.

A New Deal for Small and Medium Enterprises in India

-- P R Kulkarni

In this era of globalization, when large Indian enterprises are on a mergers and acquisition spree and are entering the international arena, the Indian Small and Medium Scale Enterprises (SME) sector seems to be lagging behind in the race. The reasons are immaterial and the result is the concern. After the enactment of `The Micro, Small and Medium Enterprise Development (SMED) Act' in June 2006, everybody interested in the issue is again hopeful of a bright and prosperous future for the Indian SME sector. But is the repeated redefinition of SMEs (on the same age-old investment parameters) a solution for survival in today's cruel battle? Or does it require broadened horizons of thinking as well as actions from the people concerned? The protective shield provided by the Government to SMEs in India up till now has been removed, and this sector is preparing to sail into uncharted waters at the international level. When automation, technological upgradation and modernization (requiring very high capital investment) are the new sustainability norms, Indian SMEs are still finding ways of coping with investment limits forced on them. The time has now come to recraft our policies in tune with the current requirements.

© 2008 IUP . All Rights Reserved.

Current Status of SMEs and Entrepreneurship Education and Training Intervention in Select South and South-East Asian Countries

-- Rajiv Joshi and B Ganapathi

This paper explores the current status of entrepreneurship development process in selected south and south-east Asian countries. Small and Medium Enterprises (SMEs) are of great importance to the region due to socioeconomic and political reasons. The paper focuses on the various government interventions and also the role played by the national and international agencies. Entrepreneurship education and training are the major focus areas of the paper. The paper attempts to present a framework based on the experience of Indian entrepreneurship development movement and a model which can be replicated considering certain socioeconomic and political similarities of India at the various stages of the economic development with other countries of the Indian subcontinent as well as other south and south-east Asian countries.

© 2008 IUP. All Rights Reserved.

Case Study

Entrepreneurial Promotion Through EDP

-- P Laxmana and Ishwara P

With a view to transforming employment seekers into job generators, education system should prepare students right from college education to get oriented to setting up enterprises which would provide them with creativity, freedom and ability to generate wealth.

© 2008 IUP . All Rights Reserved.

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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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