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Trade body lauds RBI's new guidelines on loans to MSMEs

The MSMEs in the exporting sectors which were affected due to demonetisation and implementation of GST would be benefited by the move

Press Trust of India  |  Coimbatore 

RBI, Reserve Bank of India

The local chapter of the Indian Chamber of Commerce and Industry Friday thanked for releasing guidelines on restructuring of loans to (micro, small and medium enterprises) which contribute 50 percent to the

has decided to permit a one-time restructuring of existing loans not exceeding Rs 25 crore to which would be a big relief to financially-stressed MSMEs, chamber president V Lakshminarayanasamy said in a release here.

Stating that the has taken the decision by understanding the structural bottlenecks and factors affecting the performance of the MSMEs, he expressed happiness that the government and the RBI have considered the importance of the in the

The MSMEs in the exporting sectors which were affected due to demonetisation and implementation of GST would be benefited by the move, he said.

That a provision of five per cent in addition to the provisions already held shall be made in respect of accounts restructured under this scheme is also a welcome move, he said.

First Published: Fri, January 04 2019. 15:50 IST
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