GRAT has organized a session on "Working Capital Management and Project Finance" for the benefit of GRAT business forum members.
The GRAT organization invited Mr Mahendra Kumar Kunde who is Cluster Head for HDFC Business Banking. Mr. Mahendra Kumar has got 15 years of experience working in private banking companies like ICICI, and Axis and currently working with HDFC.
Mr. Mahendra Kumar had given his valuable input on business capital and material purchase funding. He has explained how financial institutions consider processing the loan for any business entity.
A few words are listed below which are considered as main criteria by the banks to process business loan applications.
1. The balance sheet of the company is the primary thing that the banks check.
2. Any business that wants to apply for a bank loan should have to maintain financial discipline.
3. After starting any business, a minimum of 2 years waiting period is there to apply for a bank loan.
4. Loans are not approved if the businesses are at a loss.
5. The business owners should focus on the target customers with proper vision which is also considered by banks.
6. An interest rate of 10 to 10.5% will be levied on the business loans.
7. Up to 2 crore funds will be sanctioned for the manufacturing sector and 1 crore for procuring raw materials will be provided as bank loans.
After the session, there was an interactive session by the annual business members with the speaker. Followed by the felicitation of Mr. Mahendra Kumar Kunde by Mr. Raghav Reddy.
Event Date: June 03, 2023
Time: 5 pm to 7 pm
Venue: GRAT Business Forum, Panjagutta, Hyderabad.
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