RBI committee recommends increase of loan limits to MSME sector
Thursday, July 25, 2019, 8:04 PM
A Committee constituted by RBI, headed by former SEBI Chairman UK Sinha, has recommended that the limit for collateral free lending should be increased to Rs.20-lakh for MSMEs and SHGs. The Committee has also recommended revision of loan limit sanctioned under MUDRA to Rs 20 lakh from Rs 10 lakh. The recommendations also include a proposed Rs.5,000-crore distressed asset fund for MSMEs.
'42% SMEs in India find accessing finance difficult'
Friday, November 30, 2018, 3:16 PM
For SMEs, accessing finance is the most difficult part and most of them rely on traditional bank loans to run their businesses. A global survey by American Express underlines that 42% of Indian respondents find access to finance to grow business difficult, as compared to a third of their global peers. The survey says that 82% of all SMEs plan to use bank loans.