October 24, 2019

RBI shuts down another business... and this was how VFMDirect started

- for the record, I started off as a Direct Selling Agent for the financial services industry
- at the age of 32
- I had 7-8 years experience in this industry so the SWOT analysis was propah
- the VFMDirect stands for Value for Money and Direct is for Direct Marketing
- I shut this business in less than 6 months but I retained the name
- stoploss hit
- all this was some time in 1997-98
- then later evolved into other businesses... no planning.. just take the road when it comes

- RBI's action will have a huge impact - expect DSAs to shut down and employees to lose their jobs
- on the plus side, banks will be forced to create their own direct selling teams on their payrolls
- but this can increase overall costs
- either way, the consumer will suffer

Read more at https://economictimes.indiatimes.com/markets/stocks/news/rbi-banks-use-of-agents-to-chase-loans/articleshow/71699214.cms

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