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Govt announces relief for MSMEs ahead of festive season

Friday, September 20, 2019, 8:24 AM

Just before the beginning of the festive season, Finance Minister Nirmala Sitharaman on Thursday announced that banks have been asked not to classify stressed Medium and Small-scale Enterprises or MSMEs as NPA till 2020. The announcement comes at a time when the NBFC sector, considered the backbone of multiple sectors in the country, have been facing an acute lending crunch that started in 2018.