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Survey highlights need to boost funding for MSMEs

Survey highlights need to boost funding for MSMEs

Government must take steps to promote flow of funding to Micro, Small and Medium Enterprises (MSMEs) in order to ensure growth in the sector. According to a Ficci-Grant Thornton survey, inadequate credit facility is one of the factors that thwart the expansion plant of majority of companies in the sector

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RBI norms for lending to small units

RBI norms for lending to small units

In view of the increase in price index and cost inputs, Reserve Bank of India revised sub-targets for lending to the micro and small enterprises sector. According to the new norms, banks must divert 40 per cent of total advances to the sector to micro (manufacturing) enterprises having investment in plant and machinery up to Rs 10 lakh. The existing limit is Rs 5 lakh. The revision is within the overall ceiling of Rs 25 lakh for micro enterprises as defined in the Micro, Small and Medium Enterpr