Companies & Sectors
RBI preparing framework to ease flow of credit to MSMEs: Mundra
The Reserve Bank of India (RBI) is preparing a framework to provide accreditation to credit counsellors for facilitating easy flow of credit to the MSMEs (Micro, Small and Medium Enterprises), its Deputy Governor S.S. Mundra said here on Tuesday.
 
"For bridging the information asymmetry on the MSME borrowers side, RBI is initiating a process for putting in place a framework for accreditation of credit counsellors who are expected to serve as facilitators and enablers for micro and small entrepreneurs,” Mundra said at the 2nd national conference on MSME funding organised by the Confederation of Indian Industry (CII). 
 
“Since MSMEs are typically enterprises with little credit histories and with inadequate expertise in preparing financial statements, credit counsellors will assist the borrowers in preparing their project reports and also help banks make better informed credit decisions,” he added.
 
Mundra said that RBI is also in the process of issuing final guidelines on P2P (peer to peer) lending in the MSME sector. 
 
"New players have entered the MSME lending landscape in form of P2P companies. RBI has been mindful of a need to regulate these entities without stifling their ability to innovate and is currently in the process of issuing final guidelines on P2P lending,” he said.
 
“These entities use an online platform to match lenders with borrowers to provide unsecured loans and mostly for receivables financing,” he said.
 
Mundra said that P2P lending has great potential as an alternative form of low-cost finance as it can reach to the needy where formal sources are unable to reach or unwilling to lend.
 
In order to solve the problem of delayed payment to MSMEs, RBI has licensed three entities for operating the Trade Receivables Discounting System (TReDS). 
 
“The system (TreDS) would facilitate the financing of trade receivables of MSME enterprises from corporate and other buyers, including government departments and public sector undertakings (PSUs) through multiple financiers,” he said.
 
The objective is to create Electronic Bill Factoring Exchanges which could electronically accept and settle bills so that MSMEs could encash their receivables without delay, he added.
 
It is expected that the TReDS will commence operations within this current fiscal. 
 
“It would be important that the use of TReDS is made mandatory for, to begin with corporate and PSUs and later for the government departments,” Mundra said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Music to the Ears
I love music and, with mobile devices becoming more suitable for streaming audio, it has become much easier to enjoy pure sound. However, over the years, I have found that not all mobiles come with earphones. Also, earphones, bundled with mobiles, are more suitable for voice calls. Only the costly mobiles come with earphones that offer a good audio experience as well.
 
Now let us see what exactly an earphone is and how the technical aspects can affect its sound output and performance. According to Wikipedia, John C Koss, an audiophile and jazz musician from Milwaukee, produced the first stereo headphones in 1943. The 3.5mm radio and phone connector, which is the most commonly used in portable application today, has been used at least since the Sony EFM-117J radio released in 1964. Sony and its Walkman series made headphones more popular.
 
How effectively an earpiece converts an incoming electrical signal into an audible sound is measured in decibels of sound pressure level per mill watt (dB (SPL)/mW). The sensitivity of headphones is usually between about 80 and 125 dB/mW and usually measured at 1kHz. High-quality (and costly) headphones can have an extremely flat low-frequency response down to 20Hz within 3dB. Claims such as ‘frequency response 4Hz to 20kHz’ are usually overstatements because earphones’ response at frequencies lower than 20Hz is, typically, very limited. 
 
Basically, mobile earphone needs to have a volume control button, a microphone and 3.5mm plug or pin. Nowadays, most of the earphones offer stereo sound; so I am leaving this out from the checklist. To provide uninterrupted audio experience, earphones use two techniques to cancel or reduce external disturbances. Several in-ear headphones use passive voice isolation to block external sound. This is done by using silicon caps or earplugs. Active noise cancelling earphones use a microphone, amplifier and speaker to catch, amplify and play ambient noise in phase-reversed form to cancel external noises without affecting the desired sound source. Both these techniques, although helpful in providing a good experience, can endanger the user as they isolate you from the surrounding noises.    
 
Also note that just having a good-quality earphone is not enough. Your mobile device also needs to provide suitable signals to the earphone to produce high-quality audio. Sometimes, you can use another mobile app as a music or video player that offers better sound than the in-built apps. Over the years, and several editions later, I found JetAudio Plus for music and MX Player for videos performing as per my expectations. Of course, you need to experiment with these apps to get most out of them, in terms of good sound quality and visuals. However, it is simple and can be done easily by anyone. 
 
Le 2 mobile from LeEco comes with an interesting earphone based on what they call continual digital lossless audio (CDLA). The type-C headphones, with built-in decoders, deliver Hi-Fi audio without the prerequisite of an amp or pre-amp making high-fidelity audio affordable and accessible. Listening to audio on this earphone is a wonderful experience. The only issue with LeEco’s CDLA earphones is that it comes with a type-C port and not 3.5mm jack. This means that you cannot use this earphone with other audio devices. The company provides a converter (from type-C to 3.5mm jack), but that does not give the same sound quality. 
 
Except Le2’s earphones, I have not mentioned any names or model numbers. This is because you need to physically check the audio output and the quality of sound from the earphone by connecting it to the mobile, and buy it only if you are satisfied. Also check how the earphone fits into your ears and whether you are comfortable using it. In addition, this applies only if you are buying additional earphones and not those that come bundled with your mobiles. Nevertheless, do check the total audio output, balance of sound (bass and treble levels), stereo effects and, only then, buy it.

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