Letter issued by the office of Development Comm. MSME,Ministry of MSME,GOI regarding Credit to MSMEs
Dear all,
Your association SIMA is forwarding herewith a Letter No: 17(26)/2020-21-CGTMSE (pt.1) dated 12/02/2021 issued by the office of Development Commissioner-MSME, Ministry of MSME, Govt. of India.
Vide the Letter, the Development Commissioner-MSME has communicated with all Industry Associations to publicize about the Reserve Bank of India Notification dated 5th Feb. 2021 issued to all Scheduled Commercial Bank regarding Credit to MSME Entrepreneurs.
As per the Notification dated 05/02/2021, SCBs will be allowed to deduct the amount equivalent to credit disbursed to ‘New MSME Borrowers’ from their Net Demand and Time Liabilities (NDTL) for calculation of the Cash Reserve Ratio (CCR). For the purpose of this exemption, ‘New MSME Borrowers’ shall be defined as those MSME Borrowers who have not availed any credit facilities from the banking system as of 1st January 2021. This exemption will be available only up to 25 lakhs per borrower.
TO VIEW THE LETTER & NOTIFICATION PLEASE CLICK HERE.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
