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Allow MSMEs to open multiple current accounts in same bank: KCCI President

Allow MSMEs to open multiple current accounts in same bank: KCCI President
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Karnataka: MSMEs grapple with surge in raw material cost, manpower crunch | Hubballi News

Representative image The Covid-induced lockdown imposed for prolonged periods has dealt a massive blow to the fortunes of thousands of micro, small and medium enterprises (MSMEs), with many of them staring into endless pits of despair. Despite the restrictions being eased gradually and the government permitting the units to resume operations, these enterprises continue to face a host of other problems, ranging from lack of skilled manpower to the inflated price of raw materials. In Dharwad, Dakshina Kannada and Mysuru districts, more than 40,000 MSMEs have been identified whose productivity has suffered. President of Kanara Industries’ Association Ajith Kamath sought to illustrate the magnitude of the problem with figures: “Nearly a fourth of the 8,000 MSMEs in Dakshina Kannada are not in a position to resume operations immediately owing to fiscal constraints, rise in the cost of raw materials and shortage of labour. More than the pandemic, the uncontrolled increase in the p

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