 "77% of CEOs feel cut in interest rate didn't benefit them: Survey")
A survey, conducted by Ficci and Dhruva Advisors to gauge the sentiments of businesses in June after the lockdown was eased and the stimulus package announced, showed that 79 per cent of respondents do not think that the Guaranteed Emergency Credit Line (GECL) Scheme has yielded desired returns.
Besides, 77 per cent felt that interest rate reduction has not benefited their companies. The survey sought responses from 100 corporate executives. The GECL scheme provides 100 per cent guarantee coverage to all lenders, to enable additional funding of up to Rs 3 trillion to small businesses.
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