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.
(MENAFN - KNN India)
MSME Associations asked to publicise new loan scheme for first time borrowers New Delhi, Feb 13 (KNN) The office of Development Commissioner-MSME, under the ministry of MSME has dashed off a letter to all Industry Associations to publicise about the Reserve Bank of India (RBI) notification dated February 5th, 2021 issued to all Scheduled Commercial Bank (SCBs) regarding credit to MSME entrepreneurs.
As per this notification SCBs will be allowed to deduct the amount equivalent to credit disbursed to ‘New MSME Borrowers from their Net Demand and Time Liabilities (NDTL) for calculation of the Cash Reserve Ratio (CCR).