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finance | IST

RBI's loan restructuring scheme will provide relief to MSMEs, says chairman of CII MSME Council

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In a much needed boost for the micro, small and medium enterprises (MSMEs) sector, the Reserve Bank of India has allowed one-time restructuring of MSME loans. Shreekant Somany, chairman of CII National MSME Council, spoke to CNBC-TV18 about the same.

In a much needed boost for the micro, small and medium enterprises (MSMEs) sector, the Reserve Bank of India has allowed one-time restructuring of MSME loans. Shreekant Somany, chairman of CII National MSME Council, spoke to CNBC-TV18 about the same.
Somany said that," The RBI relaxation move will mean a relief to MSMEs."
Talking about the slowdown in the MSME sector, he said, “Through the years we have heard from MSMEs that they have had difficulty in getting credits approved from the banks.”
“We know that most of the problems that the MSMEs had is availability of finance and this definitely hammers their manufacturing capacities and various other things. Therefore, the market loss is there,” he added.
 
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