It is necessary to make systemic changes to the Indian finance sector as red tapism is the the biggest hindrance today
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The business world would be nothing without risk. Whether it’s investing in a radically new company that aims to send rockets to Mars, a mobile application that deletes pictures after 10 seconds, or a website that lets you connect with old friends, every business is subject to risk and the possibility of success is usually far lower than the likelihood in failure. While private equity investments in new ventures are fraught with higher risks, banks having access to more concrete and substantiated data are supposed to be in relatively safer waters. Unfortunately, for many finance companies and banks, the need to follow set protocols without applying any intelligence in the process has challenged this norm.
The issue of non-performing assets has been a persistent issue that plagues…
