Synopsis
For enhancing credit to MSME entrepreneurs, the RBI Governor mentioned that in Feb 2021, the scheduled commercial banks were allowed to deduct credit disbursed for new MSME borrowers from their NDTL for calculation of CRR.
PTI
The MSME sector has been under considerable stress in the aftermath of Covid’s second wave which has severely hit their cash flows, survival and thrown them off gear.
In an effort to reduce the stress on small businesses and the MSME sector amid the unprecedented Covid surge gripping the nation, RBI Governor Shaktikanta Das on Wednesday announced a set of measures targeted at offering relief for such cash starved enterprises.