Article published in Times of India-Mumbai dated 20th September.
Dear all,
Your association SIMA is forwarding herewith an article published in Times of India-Mumbai , dated: 20/09/2019.
In relief for MSMEs, none to be declared NPA till March ’20
As per the article Public sector banks, along with select nonbanking finance companies, will fan out across 400 districts to provide loans to farmers, retail borrowers and micro, small and medium enterprise (MSMEs), finance minister Nirmala Sitharaman said on Thursday, as the government launched a strong bid to provide loans
in the festival season.
The FM also said banks have been told not to declare any stressed loan account of MSMEs a non-performing asset until March 2020.
On the proposed credit push, she said, “They can belong to the famous RAM category which is retail, agriculture (farmers), they can also belong to MSME sectors. We are also adding those who want loans for houses, those who want vehicle loans also to come there.” She added, “The range can be anything, selfhelp groups, Mudra, vehicle loans, housing loans... any of them can come there and that day sitting there they can sort out the loan requirements.”
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This is for your kind information.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
