SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 04 Jan, 2019  

FICCI Logo New THMB FICCI hails loan-restructuring window for MSMEs

MSME.9.5.jpg
   Top Stories
» 28 Indian startups raised over $800 mn in funding this week
» GST Council waives interest, penalty on notices to taxpayers under Section 73
» India's innovation ecosystem poised for exponential growth: Industry
» India's innovation ecosystem poised for exponential growth: Industry
» Overseas Indians faith grows in Indian economy with $1 billion deposits in April
SME Times News Bureau | 04 Jan, 2019

Industry body FICCI has welcomed RBI's move to provide a loan-restructuring window for MSMEs with loans up to Rs 25 crore.

"This will provide a much-needed boost to the small and medium enterprises that had been reeling under financial pressures on account of reasons beyond their control," said Sandip Somany, President, FICCI. 

MSMEs are the backbone of the Indian industry, but generally face greater vulnerability on account of the payment mechanisms which came under greater stress in recent times.

The tight liquidity situation in the financial markets only exacerbated the problems faced by the MSMEs and a measure like the one announced by RBI was clearly needed to support these units, it added.

"The relief comes at the right juncture and will provide the much-needed momentum to push the growth levers as MSMEs make a significant contribution to domestic output, exports as well as job creation," said Somany.

He added, "The RBI scheme should provide an incentive to the lenders to look at restructuring of the loans extended to MSMEs in a more pragmatic manner and we hope that it will also expedite decision making in this regard".

RBI's relief window for MSMEs together with other measures announced by the government for easier and affordable access to credit such as interest subsidy on loans should help in reviving growth of MSMEs and provide an added impetus to push the overall growth of the economy upwards of 8 per cent.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

It's of no great help
Bhagawath Prasad | Sat Jan 5 02:51:04 2019
Given Scheme will eliminate may who invested before note-ban , scheme will only help if date is adjusted to Jan 1st 2017


 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
Will the Budget 2024 be MSME friendly
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter