AN UNKIND CUT
Business Today|April 19, 2020
A LARGE NUMBER OF MSMES EXPECT TO RESIZE OPERATIONS IN THE COMING MONTHS
NIRBHAY KUMAR
AN UNKIND CUT

The 21-day lockdown in the wake of the Covid-19 pandemic will be in force till April 14. But cash-starved micro, small and medium enterprises (MSMEs) remain uncertain about their future and survival for months beyond this period. The 63 million MSMEs are the lifeline of India's economy as well as big employers, providing livelihood to 110 million people, around 40 per cent of the total workforce. They account for 48 per cent of exports and contribute 30 per cent to the nation's GDP.

Finance Ministry and the Reserve Bank of India (RBI) have announced a host of measures to bring relief to MSMEs but that hasn't calmed their nerves yet.

The RBI has allowed banks and other financial institutions to provide a moratorium of three months to all term loan borrowers for all loans due for payment between March 1 and May 31. It also allowed banks to defer interest on working capital by three months, besides easing compliance in GST.

Earlier, in a major relief, RBI permitted one-time recast of loans by GST-registered MSMEs to prevent them from turning NPAs. All accounts in default but standard as on January 1, 2019, qualified for the relaxation. The scheme has now been extended to accounts that were standard but in default as on January 1, 2020. Last month, the central bank also announced that incremental loans to MSMEs, along with retail loans for auto and residential housing, will be exempted from the cash reserve ratio between January 31 and July 31, 2020. A whole lot of things have been announced and quite a number of things are going to be announced. The government is aware of the need, says A.K. Panda, Secretary, Ministry of Micro, Small and medium Enterprises (MSMEs), indicating that more relief measures could be in the offing.

Bu hikaye Business Today dergisinin April 19, 2020 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Business Today dergisinin April 19, 2020 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

BUSINESS TODAY DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
"Focus on the challenge of each customer"
Business Today India

"Focus on the challenge of each customer"

SHASHANK KUMAR MD & CO-FOUNDER I RAZORPAY Razorpay is India's first full-stack financial solutions company

time-read
1 min  |
December 08, 2024
PEDAL ON THE FUTURE
Business Today India

PEDAL ON THE FUTURE

THE MG WINDSOR EV, WITH ITS FUTURISTIC AND MINIMALIST DESIGN, COMBINES THE BEST OF BOTH WORLDS-COMFORT AND TECHNOLOGY

time-read
1 min  |
December 08, 2024
BREATHE EASY
Business Today India

BREATHE EASY

Whether you're battling allergies, looking to remove pollutants, or simply want to breathe easier, the right air purifier can make a difference

time-read
2 dak  |
December 08, 2024
The Taste of India in a Glass
Business Today India

The Taste of India in a Glass

FROM ROYAL LIQUEURS TO DISTILLED MAHUA, INDIAN HERITAGE ALCOHOLIC BEVERAGES ARE HAVING THEIR DAY IN THE SUN

time-read
4 dak  |
December 08, 2024
LOOK BEFORE YOU LEAP
Business Today India

LOOK BEFORE YOU LEAP

IN 2025, INVESTORS WILL NEED TO FACTOR IN VOLATILITY ACROSS ASSET CLASSES

time-read
5 dak  |
December 08, 2024
MISSING ADVISORS
Business Today India

MISSING ADVISORS

INDIA HAS JUST ONE INVESTMENT ADVISOR FOR NEARLY EVERY 200,000 INVESTORS. AT A TIME WHEN RETAIL PARTICIPATION IN THE STOCK MARKETS IS BOOMING, THIS ASSUMES SIGNIFICANCE

time-read
7 dak  |
December 08, 2024
TURNING A CORNER
Business Today India

TURNING A CORNER

SHARED ELECTRIC MOBILITY START-UP YULU'S SHIFT TO SERVICING THE QUICK COMMERCE SECTOR IS HELPING IT GROW FAST. IT IS NOW FOCUSSING ON IMPROVING ROAD SAFETY FEATURES AS IT TURNS EBITDA POSITIVE

time-read
5 dak  |
December 08, 2024
REALITY CHECK
Business Today India

REALITY CHECK

INDIAN STOCK MARKETS PLUNGED BEGINNING OCTOBER FOR A HOST OF REASONS, INCLUDING A FALL IN FII OWNERSHIP. HOW DEEP WILL THE CORRECTION BE?

time-read
6 dak  |
December 08, 2024
TRUMP'S TRADE TANGO
Business Today India

TRUMP'S TRADE TANGO

The return of Donald Trump as the 47th President of the US has put the global economy on edge. India, too, is unlikely to remain unaffected. How will policymakers meet this latest challenge?

time-read
9 dak  |
December 08, 2024
"The essence of the Trump administration will be transactional”
Business Today India

"The essence of the Trump administration will be transactional”

Global investor, analyst, and best-selling author Ruchir Sharma decodes why Donald Trump won the elections, what India should do, the risks, and more

time-read
10 dak  |
December 08, 2024