Summary:
They have warned that if traditional retail sector is not given due safeguards, it will cause large scale joblessness in the country. "Only four per cent of bank finance is for unorganised retailers. The current scenario is such that it is very difficult to put a fight against organised players with big pockets," said V K Bansal, general secretary of the Federation in a proposal to the government. The federation has urged the government to come out with a policy that encourages honest businessmen and is compliance friendly. Inspite of repeated guidelines by RBI to provide bank finance to micro and small enterprises, banks are not doing the same as traders do not have the collateral to offer," said Bansal..