Finance Ministry to hold meeting with bank chiefs on credit flow to MSMEs
NEW DELHI: The Finance Ministry is set to hold a review meeting on Monday with public sector banks (PSBs) to assess the adverse impact due the 50 per cent tariff hike imposed by the US on the micro, small, and medium enterprises (MSME) sector and take stock of their credit requirements, a senior official confirmed.
NEW DELHI: The Finance Ministry is set to hold a review meeting on Monday with public sector banks (PSBs) to assess the adverse impact due the 50 per cent tariff hike imposed by the US on the micro, small, and medium enterprises (MSME) sector and take stock of their credit requirements, a senior official confirmed.
The objective of the meeting, to be chaired by Department of Financial Services (DFS) Secretary M Nagaraju, is to understand how external trade pressures are affecting MSMEs and to ensure that adequate credit support continues under existing government initiatives.
The high-level meeting will review the flow of funds through financial inclusion initiatives such as MUDRA and credit guarantee schemes of the government.
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