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Bangalore: Doctors with an entrepreneurs mindset is catching up, but the biggest hurdle is the financials, i.e. understanding the various pros and cons in terms of debt and equities to initially kickstart the firm. In the same context, the next ride would be the projections for the plan ahead and that's when they need private consultants. Witnessing this, as Business Line revealed on Monday, Punjab National Bank has come with a new strategy, helping the entrepreneurs at a reduced price. The services would include preparation of detailed project reports.
One of the internal sources told SiliconIndia, "Private consultants charges between 2 percent and 11 percent considering the amount of work, while on the contrary, the rates of consultation from Punjab National Bank will be reduced to a great extent." According to the source, the rates could be between 1 percent and 5 percent though, PNB is yet to come to a final conclusion on the rates.
The rates tend to differ considering the service, for instance, to be a mere guide in terms of connecting to the right source for infrastructure or the investment would not cost much. On the contrary to provide the complete service of creating the plan, selecting a property, registration of it, to being with the client till the completion of the project would have a higher cost.
The company is also heard to be mulling on special loan schemes for entrepreneurs, though they didn't want to comment on the same.
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