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August 13, 2008

Sport Loans Something to think about................

Today, when I read the papers there was an article on how most of the medals that India won in the individual category at the Olympics was mostly due to the individuals ability for funding for their own training rather depending on the government for providing the facilities. Though there have been exceptions but mostly its been their own making.

This kind of hit me when I was thinking how a sports person can get the funds one requires for their training. Why not banks give loans to sports persons? This would really change the whole scenario of sports in India, the one which is seen today. We have lot of talent here, but the problem is not every one has the moolah to make it to the top. By giving loans to sports person at concessional rates, they will be able to avail the amenities that they were being denied.

Having said this, I know this is not a very easy task, but if we can work on it then definetly things can work out for better. One of things about getting loans is you need to prove to the banks you have enough money and you don't need the money in the first place!!

The banks can give loans at lower rates for a longer duration and on the other hand they stand to gain, if the sport person they have given loan to is winning events. This would give them a brand ambassador and would mean more business. It can also happen that they did not win any events, at least they were able to give them the facilities which was required for their improvement. This can also be dubbed as a corporate effort to develop sports in India and making their contribution towards the same.

I do hope they are reading this and make a note of it.


Deepali said...

Biggest problem is getting the funds back. Most bank want to play it safe with loans and if they don't have a big risk appetite, I seriously doubt they would disburse such loans.

On the other hand if corporates sponsored a 'sports person' then it might help. Ideally I don't believe that sports would count as part of social responsibility (in a country like India) where people are suffering from poverty, unemployment, illiteracy, etc. But at least India can do better at sports and parents might not yell at children saying there is no future and like you mentioned, these corporates can have a brand ambassador.

The whole debate about how to enhance sports in India is a complex one. It isn't only about money in a lot of instances. There is facilities, coaching, training etc which is lacking.

But definitely something should change because we do have talented people here who have big dreams. And also cause doing well in sports will make us all more proud of being Indian.

JaY said...

@ Deepali

Welcome to LIFE!

Good to see that I sparked of a debate :)

I agree, but then there are ways to get around it. If the sports institution is not able to give the necessary facilities the least they can do is become a guarantor or agree to pay at least 50-60% of the loan. This would work both ways in case of fund shortage for development of the infrastructure.

It is about the money and the bureaucratic hurdles about getting it.

It makes me wonder how much importance do we give to sports as a nation. Getting a individual gold medal in a nation with about a billion population does not sound that great.

We sure have lot of talent, all we need to do is nurture then and take them to heights of glory.