Financial ExpressMay 4, 2022How India’s first NBFC into factoring post revised RBI regulations is helping MSMEs unlock cash in..Credit and Finance for MSMEs: Jaipur-based third-generation entrepreneur Ravi Modani had just completed his masters in commerce from the University of Rajasthan in 1992 when one of his highly working capital-intensive family businesses of manufacturing laundry soaps — Hansa Soaps went bankrupt and got shut. The reason for failure wasn’t high competition or lack of innovation but inadequate working capital to continue the business operations. The company “lost all money because of mismanagement of long term and short term funds,” he recalled as banks also shied away from helping recover the business. While his family continued with the other business of jute rope manufacturing called Hansa Rope Industries, Modani pursued his doctorate from the same university in working capital management partly to probe deeper into the mistakes they made and rationalise the loss of his family business.Read more at Financial Express
Credit and Finance for MSMEs: Jaipur-based third-generation entrepreneur Ravi Modani had just completed his masters in commerce from the University of Rajasthan in 1992 when one of his highly working capital-intensive family businesses of manufacturing laundry soaps — Hansa Soaps went bankrupt and got shut. The reason for failure wasn’t high competition or lack of innovation but inadequate working capital to continue the business operations. The company “lost all money because of mismanagement of long term and short term funds,” he recalled as banks also shied away from helping recover the business. While his family continued with the other business of jute rope manufacturing called Hansa Rope Industries, Modani pursued his doctorate from the same university in working capital management partly to probe deeper into the mistakes they made and rationalise the loss of his family business.Read more at Financial Express
