First of all the Government of India should make a srong mind set in people that Indian Economy is strong enough to handle the Global shocks. Since India is not highly dependent country like China.
The Government of India should Proactively make steps to get the fear of slowdown in people's mind. The Government might even need the help of all opposition parties in this regard to get the fear of slow down from people's mind.
The bank should provide more attractive EMI options, such as to have a longer than its given now. For example EMI providing should me more than one year even for a single Mobile phones.
Or the Banks shall even produce more attractive products Equated Bi-Monthly Installments.
By This Product the Customers can be told to pay Installments only on Bi-Monthly Basis.
The banks shall also provide additional Bonus to the customers who make advance Payments to EMI before their due date on advance basis so as to promote a positive Reinforcement Ecosystem, rather than Just Zero EMI options.
The Banks should not only make agreements or understanding with the trader and customers but the Banks should directly make agreements with the manufactures and the customers. This innovative method by which the banks easily maintain the Balance sheet of both the Customer and manufactures at the same time. This will facilitate for the banks to act both as the creditor to the manufacture as we all a debtor.
Leading Indian PSU such as SBI can have MoU with top manufacturers such as example Suzuki to design such as agreement. By these agreements the SBI can promote even lease based or EMI based ownership to the customers.
But the PSU are not that fast to take steps and promote such a product or service rather the Private banks in India are not so strong enough to make such service line.
The Smooth Financial Ecosystem has to be created among the Indian banks by over throwing the conventional service lines and Come up with new innovative service so has to promote a steady and stable Economic development.
Banks should make lot of service line for both the Business persons as well as the Customers to enrich the financial flow as well as within the controls of the banks so as to avoid the Financial Leakage through the Economic Fraudulent.
lot of scope for the New India's emerging banking service to learn from these Economic offenders and to fix the loop holes through one of the best technological as well as financial measures .
The financial System must be the Pioneer in going through the Industrial Revolution 4.0 in India so has to facilitate all the other industries to follow the path.
