‘RBI decision to allow restructuring of MSME loans a big relief’ 

Source: The Hitavada      Date: 05 Jan 2019 11:33:36


Business Bureau,

THE Indian Chamber of Commerce and Industry (ICCI) Coimbatore chapter thanked Reserve Bank of India (RBI) for releasing guidelines on restructuring of loans to Micro, Small and Medium Enterprises (MSME) which contribute 50 per cent to the manufacturing sector.

Chamber President V Lakshminarayanasamy said RBI has decided to permit a one-time restructuring of existing loans not exceeding Rs 25 crore to MSMEs which would be a big relief to financially-stressed MSMEs. He said that the RBI has taken the decision by understanding the structural bottlenecks and factors affecting the performance of the MSMEs and he expressed happiness that the government and the RBI have considered the importance of the MSMEs in the economy.

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