India, Dec. 14 -- The Government of India has issued a release:
The Government of India through Bureau of Indian Standards (BIS), Department of Consumer Affairs, Ministry of Consumers Affairs, Food & Pubic Distribution implements, phase-wise, Quality Control Orders (QCOs) issued by the line Ministries with exemptions/relaxations for MSMEs, to ensure that Quality Control Orders (QCOs) do not disrupt domestic production. Some of the key relaxations and exemptions are as below:
The Bureau of Indian Standards (BIS) has informed that based on the feedback on certification processes, BIS has implemented the following financial and technical relaxations to MSME sector:
As per the information provided by Reserve Bank of India, with a view to improve monetary policy transmission, banks have been advised by Reserve Bank of India to link loans to MSMEs to an external benchmark. The reset clause for loans has been reduced to three months under the external benchmark system. Further, to make the benefit of external benchmark-based interest regime available to the existing borrowers, banks have been advised to provide a switchover option as per mutually agreed terms. Further, RBI also took various other measures for improving credit flow to the MSME sector: some of them are as under:
This information was given by the Minister of State for Micro, Small and Medium Enterprises (Sushri Shobha Karandlaje) in a written reply in Lok Sabha.
AKS
Disclaimer: Curated by HT Syndication.
