I recollected an interesting episode during a casual conversation with a client the other day. It made me think, is Ignorance always bliss?

A fairly sizable company, with approximately Rs 650 crore on their Imports, had been banking with a couple of Banks using the traditional and conventional borrowing products such as Cash credit and local currency borrowings.

Companies have a choice to borrow in Local or Foreign Currency such as Buyers’ credit, Suppliers’ credit, Foreign Currency Non-resident Loans (FCNR) loans , and so on.

This firm wasn’t aware that borrowing in dollars would bring down the cost significantly owing to the variety of products available. Although it’s true that Foreign Currency borrowings entail a downside risk in the USD/INR exchange rate, there’s however a way to manage it intelligently. Exploring these products allows a company’s margins to expand substantially, making it competitive in the global landscape. It’s just smart Business Sense !

It’s easier – and convenient even – to lay the blame on the doorstep of the bank? Why didn’t it educate the client?

I have a counter-question here: do clients often raise the right queries and show keenness to explore newer products? Does it flash ‘what’s in store ’ when anything new is introduced? And what causes this information gap in the first place?

Growth of businesses is directly correlated with the accessibility of the Right Financial Tools and Partners, not just in India but also for Overseas presence via new subsidiaries and India’s growth story in on a fast trajectory.

The premise of the app, WiredUp, is to Connect Companies of all sizes with the Right Financial Partner for the Right Product at the Right Value at the Right Time to facilitate Global Trade.