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A study on Issues and Challenges faced by SMEs : A Literature Review

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friendly technique to maximize their profit. These investments met the financial requirement
for building up the basic and essential infrastructure industries of priority sector. But we finds
that the highest amount of FDI gone to financing sector, insurance sector, Real estate and
Business services. It‘s a serious matter in context of foreign direct investment objectives.
Main reason of this sifting is high risk and low profit in concern sectors. Because the FDI are
associated with various types of risks which are expected to provide various linkages in the
development of Indian economy. But there is an upward trend in the flows of foreign
investment particularly in study period. We should provide the better environment for
attracting the foreign investment through direct as well as indirect methods. We should
welcome inflow of foreign investment in such way that it should be convenient and favorable
for Indian economy and enable us to achieve our cherished goal like rapid economic
development, removal of poverty, internal personal disparity in the development and making
our Balance of Payment favorable.
References
1. FICCI‟s FDI Survey2002, 2003 and 2004: The Experience of Foreign When to
make India a manufacturing base.
2. German Federal Statistics and International Trade Statistics(2005).
3. KPMG Corporate Tax Rates Survey USA (2004).
A STUDY ON ISSUES AND CHALLENGES FACED BY SME‟S: A
LITERATURE REVIEW
Ms.Syamala Devi Bhoganadam*, Dr.Nune Srinivasa Rao**,Dr.Dasaraju Srinivasa Rao***
(*Research Scholar, Department of Management, K L University, Vaddeswaram, Guntur, AP.
** Faculty Member, National Institute of Micro Small and Medium Enterprises, Yousufguda, Hyderabad&***Professor,
Department of Management, K L University, Vaddeswaram, Guntur, AP. )
Introduction
SME‘s are playing an important role in economy development and also for growth of
India‘s economy. The MSME sector consisting of 36 million units provides employment to
over 80 million persons. The sector through more than 6000 products contributes about 8% to
GDP besides 45% to the total manufacturing output and 40% to the exports from the country.
SME‘s contribution towards Indian economy development is at large. SME‘s are regularly
termed as ―Engine for Growth‖ in developing countries like India, china etc. Indian sector
SME‘s are classified according to Micro Small and Medium Enterprise (MSME) Act 2006.
Most of countries define SME‘s in terms of number of employees but in developing countries
like India categorization of SME‘s was done using investment rations in plant and machinery
Hooi L W (2006). SME‘s in MSME Act are divided in terms of investment in plant and
machinery for both manufacturing and service sectors as shown in table 1. According to
Micro Small and Medium Entrepreneurs Development (MSMED) Act 2006 definition of
micro, small and medium enterprises is given in below table 1.
SME‘s sector encountered second largest workforce after country‘s agriculture sector.
This shows that SME‘s ratio towards nation‘s development and growth generation. The major
sector contribution in SME‘s is manufacturing sector compared to service sector as 45%
industrial output and 40% total sector exports etc (Final report of 4th All India Census of
MSME, 2006-2007:Registered sector). Almost 90% of total manufacturing industries are
depending on SME‘s sector for semi finished products, unfinished and supplementary

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products. SME sector manufactures around more than 8000 industrial products for both
domestic and international markets.
Table 1: Classification of sectors
Manufacturing sector
Enterprises Investment in plant & machinery
Micro enterprises Does not exceed 25 Lakhs rupees
Small enterprises More than 25 Lakhs and does not exceed 5 Crores rupees
Medium enterprises More than 5 Crores and does not exceed 10 Crores rupees
Service sector
Enterprises Investment in plant & machinery
Micro enterprises Does not exceed 10 Lakhs rupees
Small enterprises More than 10 Lakhs and does not exceed 2 Crores rupees
Medium enterprises More than 2 Crores and does not exceed 5 Crores rupees
Source: MSME Act 2006
According to Ministry of MSME the units registered were increased to 31.2 millions
in the end of financial year 2011 compared with financial year 2006-2007. It is estimated to
grow 40million by the end of 2020. Government of India has inaugurated many institutions,
associations, and schemes for development of small and medium sectors. Among them ni-
msme (National Institute of Micro Small and Medium Enterprises) is one pertaining for
promoting, development and modernisation of SME‘s sector. ni-msme originally set up by
Central Industrial Extension Training Institute (CIETI) in 1960 later it was renamed from
Small Industry Extension Training Institute (SIETI) to ni-msme Government of India ni-
msme is governed by Ministry of MSME India. ni-msme (formerly as SIETI) was registered
under public societies registration act 1of 1350 on 1st July 1962. In Andhra Pradesh ni-msme
is the first institute born to promote and develop entrepreneurs by implementing training
programs, workshops, skill development programs etc. ni-msme provides training program to
both national and international executives, existing MSME‘s and entrepreneurs. There are
more than 50 countries linked with ni-msme programs.
Objectives of the study
 To study and examine MSME role in India
 To study issues and challenges faced by SME‘s in India
 To develop a review of literature matrix model
 To Construct a conceptual model linking issues and challenges
Role of MSME in India
MSME sector has emerged as a dynamic and highly energetic sector in Indian
economy over more than thirty decades. MSME sector has not been crucial in developing
employment generation but also producing less cost products than large industries and also
for developing both rural and urban areas in an Indian economy. Hence the sector distributes
equal important all regional traditions etc. MSME is under ministry of Micro Small and
Medium Enterprises (MSME) headed by Honourable union minister Shri Kalraj Mishra.
The Ministry of Micro Small and Medium Enterprises envisions a vibrant MSME
sector by promoting growth and development of the MSME sector, including Khadi, village
and coir industries in cooperation with concerned minsters/Departments, state governments
and other stakeholders through providing support to existing enterprises and encouraging

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creation of new enterprises. Government has taken initial step of having District Industries
Centre (DIC) at each and every district to encourage and empower for becoming an
entrepreneurship. Government is implementing the Micro Small and Medium Enterprises
Development Act (MSMED Act) since 2006.
MSME Development institutes (MSME-DIs) and National Small Industries
Corporation (NSIC) conducted training program to 23761 persons during the month of
November 2016. NSIC provided various facility services to 352 micro and small enterprises.
NSIC had participated in many domestic and international exhibitions in 2016 NSIC had
attended 12 domestic exhibitions. All around 87000 people get trained in the year 2015-2016.
MSME promotes Indian economy in terms of employment, generating GDP, reducing
regional imbalances, providing training facilities etc.
National Institute for Micro Small and Medium Enterprises (ni-msme) as an
autonomous body set up in the year 1960 with an initialization to promote and encourage
entrepreneurs. As per census of 2006-2007 MSME there were 45692 working registered
enterprises in the state of Andhra Pradesh. A total of 119781 Entrepreneur‘s Memorandum‘s
(EM‘s) and Udyog Aadhaar Memorandom (UAM) were filled in Andhra Pradesh till 31 st
March 2016. Ministry of MSME is also implementing many programs in support to
encourage entrepreneurship in India. The programs and schemes are credit guarantee
schemes, performance and credit ranking schemes, emerging sources, competitive
technology, ISO 9000/140001 certificate fee and reimbursement schemes, micro and small
enterprises cluster development programme, credit linked capital subsidy schemes, national
manufacturing competitiveness programs etc.
Review of Literature:
From review of literature it is identified that SME‘s are facing many challenges
because of external environmental changes along with changing social, economic, cultural
and political changes occurred in the country. Most of research scholars, experts and
economists revealed that SME‘s are facing many challenges in terms of production,
marketing, finance, Human resources, external factors etc. It is known that SME‘s facing
more challenges are like surveillance problems because of changing external environment
structure.
Siti Sarah bt. Omar (2009) et.al. expressed that small organizations are facing
problems relating external environment like power, market place, customer related factors
etc. They conclude that SME‘s growth and surveillance depends on HRD activities like
training and development, motivation, career and learning etc. Fridah Muriungi Mwobobia
(2012) indicated that gender based discrimination in Kenya along with these there are many
challenges faced by Kenya people as lack of finance, lack of education, poor justice,
discrimination and problems with city councils etc. Among all their studies identified
challenges faced by SME‘s as access to finance, multiple responsibilities taken by women,
poor justice, lack of education, competition, lack of planning, lack of management skills etc
are identified as major challenges faced by Kenya.
N. Aruna (2015) say that MSME are facing problems relating to timely banking
finance facilities, availability of suitable technology, marketing problems, availability of
limited resources, lack of skilled man power etc. Her study identified that financial
constraints and also issues relating to power and non availability of skilled man power, raw

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material etc. Ishu Garg & Suraj Walia (2012) says that Small Scale Industries (SSI) is facing
numerous problems relating to obtaining credit, identifying technology, industrial training,
quality control etc. SSI‘s are facing numerous problems from large and medium enterprises in
aspects of production and marketing.
Gisha.P.Mathai (2015) say that problems faced by SME‘s are SME‘s in India are
facing problems relating to lack of credit facilities from banks, infrastructure problems,
unavailability of raw materials, lack of technology, lack of training, lack of skills both
managerial and technical, lack of laws pertaining to labour, competition from large
companies etc. They had given some suggestions in their article relating to challenges are
implementing training and development awareness programs, research and development
facilities, meeting consultants etc.
Neeru Garg (2014) says that there are many opportunities and problems faces by
MSME‘s in India. He found that many opportunities from external environment are finance
and subsides provided by government, by globalization, credit & finance, competitive
technology, skill development, national manufacturing competitive programs, export
promotion and infrastructure development etc. There are many programs by government like
cluster development, credit schemes, entrepreneurship development programs, etc. He
highlights some major challenges faced by MSME‘s are due to lack of finance, IT literacy,
management skills, financial and human resources, infrastructure, lack of knowledge on
foreign markets and market information etc.
Sangita G.Patil & P.T.Chaudhari (2014) says that growth of MSME‘s was increased
from year by year with an average number of registered units in MSME sector. They
identified small scale sector problems as relating to man power, lack of credit assistance,
organized marketing, inadequate infrastructure, competition, poor planning, managerial
skills, transportation facilities, lack of power, lack of ware housing facilities, lack of
information etc. Andy Neely (1995) et.al says that performance measurement can be defined
as a metric, process and set of metrics based on their efficiency and effectiveness of actions.
For any organization performance indicators are crucial for knowing the status of
organization and for developing a strategy towards increasing their performance in coming
future. This study identifies four metrics for calculating performance of an organization as
quality, time, flexibility and cost.
Das, K. (2008) says that there are many constraints faced by SME‘s are credit
facilities, technology up gradation, inadequate infrastructure, poor transportation facilities
etc. Adrian Wilkinson, (1999) says that recruitment in SME‘s are carried out through their
networks. Informal network of people will be involved in recruitment process. He also
describes that SME‘s do not follow any job description and job specification methods for
recruiting people. on the other hand a USA based study finds that because of lack of
importance on human resources is the major reason for SME‘s failure McEvoy (1984).
Mukund Chandra Mehta (2013) says that lack of finance, low on production capacity, lack of
skilled man power, lack of infrastructure facilities, lack of industrial estate facilities etc. He
concludes that government should consider these factors influencing SME‘s in formulating of
any schemes or programs.
Susan teo (1994) divided firms into three categories based on their ability to obtain
finance as firms which obtain finance in regular time are called as success firms, forms which

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obtain finance with some troubles are called as mixed firms and firms which are facing
severe problems and unsuccessful in obtaining finance are called as never firms. Based on
these three types he gathered data relating to problems faced as sales turnover, lack of
coordination etc. Mishu Tripathi (2016) et.al concentrates majorly on six challenges and
elaborates them with multiple dimensions as dearth of easy finance and credit instruments,
complicated regulatory policies for starting a business, unavailability of modern and
affordable technology, lack of basic infrastructure facilities, absence of exclusive marketing
platforms and distribution networks, inflexible labour laws and availability of affordable
skilled labour. He concludes that government should implement some schemes for
encouraging SME‘s.
Review of Literature Matrix:
It is identified that there are many factors influencing SME‘s in India major are
relating to production, marketing, finance, external environment, infra structure etc. All these
identified issues and challenges are grouped into production, marketing, finance,
infrastructure, external issues and environmental issues etc. Here in SME‘s majorly financial
challenges where entrepreneurs are facing problems in terms of obtaining finance through
banks, lenders etc, awareness about credit schemes, longer process involved in obtaining
bank loans, lack of knowledge about loans schemes etc, lack of sufficient working capital etc.
SME‘s are facing production challenges in terms of lack of power, lack of resources
including obtaining raw materials, high cost of raw materials, non availability of raw
materials, lack of technical up gradation, lack of machinery and equipment, lack of quality
measures, lack of information, lack of research and development facilities, lack of demand,
lack of production capacity, lack of education etc. SME‘s are facing marketing challenges in
terms of lack of market information, promotion strategies, lack of distribution channels, lack
of organized channels, lack of returns, lack of networks, long delivery times, lack of
information on marketing channels, lack of market structure, lack of awareness and
experience, etc.
SME‘s are also facing HRD related issues, infrastructure related issues and external
environmental challenges in terms of lack of skilled man power, lack of training, lack of
motivation, lack of water, lack of transportation, political challenges, social challenges,
cultural challenges, lack of market information, lack of awareness about government
schemes, competition, lack of city councils etc. By this review of literature we had developed
a review of literature matrix which identifies overall scores for divided into six major issues
and challenges faced by SME‘s and are shown in below table 2.
Table 2: Review of Literature Matrix
Due to lack of market information N. Aruna(2015)
Due to lack of customer related information Siti Sarah bt. Omar
Lack of power (2009)
Poor access to justice External issues Das, K. (2008)
Competition and challenges Rajesh K. Pillania,
Competing with imported products (2008)
N.V.R. Jyoti Kumar &
Lalhunthara (2015)

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Due to globalization did you feel changes in information Siti Sarah bt. Omar
for production of products? (2009)
Are you facing any law related problems or city councils? Environmental N. Aruna(2015)
Are you facing any political challenges? issues and Rajesh K. Pillania,
Sustainability challenges due to lack of demand challenges (2008)
Are you facing regulatory issues? N.V.R. Jyoti Kumar &
Lalhunthara (2015)
Did your religion support you in becoming an Siti Sarah bt. Omar
entrepreneur? (2009)
Did your caste support you in becoming an entrepreneur? Socio cultural N. Aruna(2015)
Did your education support you in becoming an issues and Das, K. (2008)
entrepreneur? challenges Rajesh K. Pillania,
Did your family members support you in becoming an (2008)
entrepreneur? N.V.R. Jyoti Kumar &
did your social networks encourage you in becoming Lalhunthara (2015)
entrepreneur?
Lack of education N. Aruna(2015)
Lack of technical training Das, K. (2008)
Lack of power Rajesh K. Pillania,
Lack of raw materials (Scarcity, high cost, poor quality, (2008)
non availability) Production Mukund Chandra
Lack of machinery and equipment issues and Mehta (2013)
Lack of quality control challenges Nirmal Ganguly
Lack of testing facilities (1988)
Poor project planning
Lack of R&D facilities
Lack of demand
Poor promotional skills N. Aruna(2015)
Lack of organized market channels Das, K. (2008)
Imperfect knowledge of market conditions Mukund Chandra
Unorganized nature of operations Mehta (2013)
Lack of distribution of marketing channels Marketing Nirmal Ganguly
Low returns issues and (1988)
Lack of experience of using consultants challenges N.V.R. Jyoti Kumar &
Lack of networks Lalhunthara (2015)
Identification of new markets
Rising customer requirements`
Delivery time
Lack of credit from bank Siti Sarah bt. Omar
Limited capital and knowledge (2009)
Organizational structure of banks Financial N. Aruna(2015)
Prolonged processes involved within banks issues and Das, K. (2008)

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Lack of working capital challenges Mukund Chandra

Lack of Awareness on financial and government schemes Mehta (2013)
Nirmal Ganguly
(1988)
Insufficient training Siti Sarah bt. Omar
Managing employees Human (2009)
Non availability of skilled labour resources N. Aruna(2015)
Lack of managerial skills development Mukund Chandra
Lack of employees issues and Mehta (2013)
Lack of job description development N.V.R. Jyoti Kumar &
Informal recruiting Lalhunthara (2015)
Lack of drinking water facility N. Aruna(2015)
Lack of storage facilities Infrastructure Das, K. (2008)
Transportation facilities issues and Mukund Chandra
Lack of adequate warehousing challenges Mehta (2013)
Lack of industrial estate facilities
From table 2 it is clear that there are many issues and challenges faced by SME‘s in
India. This review of literature matrix shows a better way in determining the issues and
challenges faced by SME‘s in category wise as external and internal issues and challenges.
Conceptual Model linking Issues and challenges faced by SME‟s:
SME‘s are facing many challenges and issues because of both internal and external
factors causing SME‘s performance. Here in the figure 1 it is given that issues and challenges
faced by SME‘s. External challenges and issues include external factors like changes in legal
systems, estimating market conditions, environmental factors includes political, legal, social
and economical factors and socio cultural environmental factors which determines an
entrepreneurs state of being becoming entrepreneur.
External challenges for SME‘s includes all the socio cultural factors like education,
caste, religion, family background and networks which influence an individual. Internal
factors include all management related factors like production, marketing, human resource
development, financial and infrastructure related factors etc. In considering both internal and
external factors SME‘s can manage and control internal factors but external factors can be
disappeared by government involvement through implementing some specific schemes and
programs for respective sector wise and also by category of industry wise.
Internal challenges are production, marketing, financial, human resource development and
infrastructure etc. Production challenges include lack of power, lack of resources, lack of
scarcity, lack of high cost raw materials, poor quality of raw materials, lack of machinery etc.
Marketing challenges include lack of promotional strategies, lack of market channels, lack of
networking, lack of organized distribution channels, lack of delivery time etc. Financial
challenges includes lack of credit from banks, lack of awareness on schemes and services,
delayed process in bank, lack of working capital etc.
Human resources development challenges include lack of training, lack of motivation
among employees, lack of skilled employees, lack of technical and managerial training,
improper way of recruiting etc. Infrastructure challenges include lack of water facilities, lack

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of storage facilities, lack of industrial facilities, lack of drainage facilities etc. Hence from the
above discussion it is clear that there are many challenges influencing SME‘s. Among them
major are production, marketing, financial, human resource development and infrastructure
etc. From above all issues and challenges external challenges are majorly not avoidable in
nature as they occur because of environmental changes which not in organization control but
internal challenges and issues can overcome and avoidable through certain safety measures
and also through management involvement.

External challenges

Environmental
challenges
Infrastructure
challenges

Socio cultural
environment Issues and Challenges
faced by SME‘s HRD challenges

Production challenges
Financial challenges

Marketing challenges

Figure 1: Issues and Challenges faced by SME‘s

From figure 1 it is clear this study has taken three external issues and challenges faced
by SME‘s and five internal issues and challenges faced by SME‘s. It is clear that SME‘s
facing more amount of issues and challenges can not exhibit higher in organizational
performance as there are many studies pertaining to this statement.
Conclusion:
As many of research scholars and experts and policy makers say that SME‘s are
facing issues and challenges which are presented in this study. There are both external and
internal issues and external challenges faced by SME‘s as they are also listed in this study.
This study scope is not only limited to conceptual framework but also for empirical testing in
upcoming articles.

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REFERENCES

1. Adrian Wilkinson, (1999),"Employment relations in SMEs", Employee Relations,

Vol. 21 Iss 3 pp. 206 – 217
2. Andy Neely, Mike Gregory and Ken Platts (1995) ―Performance measurement system
design; A literature review and research agenda‖, International Journal of Operations
& Production Management, Vol. 15 No. 4, 1995, pp. 80-116
3. Das, K. (2008), ‗SMEs in India: Issues and Possibilities in Times of Globalisation‘, in
Lim, H. (ed.), SME in Asia and Globalization, ERIA Research Project Report 2007-5,
pp.69-97.
4. Fridah Muriungi Mwobobia (2012) ―The Challenges Facing Small-Scale Women
Entrepreneurs: A Case of Kenya‖, International journal of business administration,
Vol 3, issue 2, PP 112-121.
5. Gisha.P.Mathai (2015) ―Challenges and Issues in Micro, Small and Medium
Enterprises (MSMEs) in India: A Current Scenario of Economic Growth‖, Vol 4,
Issue 7, PP 162-163
6. Hooi L W (2006) ―Implementing e-hrm: the readiness of sme manufacturing company
in Malaysia‖, Asia pacific business review, vol.12, no.4, PP 465-485.
7. Ishu Garg & Suraj Walia (2012) ―Micro, Small & Medium Enterprises (Msmes) in
Post Reform India: Status & Performance‖, Vol 1, No 3, PP 134-141.
8. McEvoy, G. (1984), ``Small business personnel practices'', Journal of Small Business,
October, pp. 1-8
9. Mishu Tripathi, Mr. Saurabh Tripathi, Mr. RikinDedhia (2016) ―Challenges faced by
Micro, Small and Medium Enterprise (Msme) Sector In India‖, International Journal
of Science technology and management, Vol 5, Issue 3, PP 69-77
10. Mukund Chandra Mehta (2013) ―Challenges and Opportunities in Micro, Small and
Medium Enterprises in India‖, 2nd International Conference on Management,
Humanity and Economics (ICMHE'2013) May 6-7, 2013 Kuala Lumpur (Malaysia),
PP 134-136
11. Neeru Garg (2014) ―Micro, Small and Medium Enterprises in India: Current Scenario
and Challenges‖, Paripex - Indian Journal of Research, Vol 3, Issue 9, PP 11-13.
12. Nirmal Ganguly (1988) ―Small scale sector: Problems and prospects‖, Yojana, March
1-15 PP 10-24.
13. N. Aruna (2015) ―Problems Faced By Micro, Small and Medium Enterprises – A
Special Reference to Small Entrepreneurs in Visakhapatnam‖, IOSR Journal of
business and management, Vol 14, issue 4, PP 43-49
14. N.V.R. Jyoti Kumar & Lalhunthara (2015) ―Challenges the operational constraints
faced by micro entrepreneurs in Mizoram‖, Small Enterprises Development
Management & Extension Journal, Vol 42, issue 2, PP 47-64
15. Rajesh K. Pillania, (2008),"Creation and categorization of knowledge in automotive
components SMEs in India", Management Decision, Vol. 46 Iss 10 pp. 1452 – 1464
16. Sangita G.Patil & P.T.Chaudhari (2014) ―Problems of Small Scale Industries in
India‖, International Journal of Engineering and Management Research, vol 4, Issue
2, PP 19-21

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 57

17. Siti Sarah bt. Omar, Lawrence Arokiasamy & Maimunah Ismail (2009) ―The
Background and Challenges Faced by the Small Medium Enterprises. A Human
Resource Development Perspective‖, International Journal of business and
management, vol 4, issue 10, PP 95-102.
18. Susan teo (1994) ―Difficulties faced by SME‘s in obtaining financing from financial
institutions‖, Journal of Enterprising culture, Vol 2, Issue 4, PP 955-968
A STUDY ON EFFECTS OF DEMONETISATION ON IOB
EMPLOYEES IN SIVAKASI
Dr.M. Jegadeeswari*
(*Assistant professor in Research Centre in Commerce, SFR College for Women, Sivakasi)
INTRODUCTION
The Indian economy which was billed as the ―fastest growing major economy‖ in the
world and the ―only bright spot‖ among Emerging Markets seems to have slowed down even
before the latest ―shock therapy‖ of ―demonetization‖. Indeed, the recently released growth
figures from the Central Statistical Office(CSO) considered to be the official department that
releases projected, and actual growth figures (apart from the Reserve Bank of India and the
Finance Ministry) hints at a slowdown in the Indian economy even during the quarter before
demonetization happened.
Having said that, one must keep in mind the fact that as per the recent estimates by
some economists, nearly 90% of the total cash in circulation has come back into the
banking system and hence, the stated purpose of the Demonetization exercise which was to
―extinguish‖ black money and enable the RBI to lower its liabilities thereby providing the
government with a huge dividend seems to have been belied. Of course, there are some who
now argue that the Indian Banking System is now ―flush with cash‖ and this has enabled the
government to ―nudge‖ the RBI to cut rates as well as to allow banks to pass on the benefit of
ample liquidity to consumers by lowering lending rates.
On the other hand, with more taxes being collected due to higher deposits in banks
that can be taxable as well as increased compliance due to greater scrutiny and oversight by
the IT (Income Tax) Department, the government too might be tempted to announce lower
rates for taxes and other aspects of what are known as fiscal measures. In this context, it is
worth remembering that fiscal stimulus which is by lowering taxes and providing more
incentives to consumers as well as producers by boosting supply can be complemented and
supplemented by the monetary stimulus which is by boosting demand for goods and services
by lowering lending rates thereby putting more money in the hands of consumers.
So at the current scenario, an attitudinal survey of the bank employees of Indian
Overseas Bank of Sivakasi branch has been taken.
1.2 IMPACT OF DEMONETIZATION ON BANKING SECTOR
The All India Bank Officers Association (AIBOA) had given a call for demonstration
against the problems that various banks and their employees were facing due to
demonetization. Pointing out that the banking system itself is losing credibility because of
frequent changes in RBI/government policies, AIBOC General Secretary Harvinder Singh
said customer dissatisfaction is increasing because of chaos and confusion created in
implementation of the scheme. Bank employees are feeling increasingly targeted in the face

Research Journal of SRNMC – Vol. 1 March 2017 ISSN 2395 - 7085

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