Govt, RBI must bring in more measures to improve liquidity scenario: Ficci

Ficci said the present situation demands that the RBI and the government work to bring in measures to improve the liquidity scenario in the coming months

Industry chamber Ficci on Wednesday said more measures are needed to make adequate liquidity available in the system and strengthen the financial sector for attaining 8 per cent plus GDP growth.

In a statement, the chamber said the tight liquidity situation in the festive season and rising interest rates will impact the SMEs, MFIs and sectors like housing. The SME credit issue is the most crucial one and all measures should be explored to address this.

It said the present situation demands that the RBI and the government work to bring in measures to improve the liquidity scenario in the coming months.

"While a 21-point suggestion has been submitted to the government and RBI to tackle the NBFC liquidity problem, the chamber also took part in the FSDC deliberations on the issue yesterday," Ficci said.

It further said its members who represent SME sector have been asking for cheaper and easier availability of credit.