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Most MSMEs not getting 20% RBI loan: Citizens Forum
7/8/2020 12:15:14 AM

EARLY TIMES REPORT

JAMMU, July 7: Citizens Forum urged Lieutenant G C Murmu that make efforts to ensure 20% RBI loan to all MSMEs and small businesses as allowed by RBI and Finance Minister is being regulated with conditions suitable to the Banks.
In the process majority of units are being denied this facility even when these are not NPAs. Finance Minister Nirmala Sitharaman had clearly announced that this facility is for all units, then why the Banks have introduced conditiones suitable to them.
R K Chadha, President Citizens Forum said this 20% loan is to revive and start the closed businesses again after the lockdown and pandemic threat. But many units which were working and not NPAs and closed are being not provided with this loan, how they will restart their units, he added. These units are paying salaries to workers and other expenses to maintain the units and their homes. No loan is a cruel Joke to small businesses and MSME which are facing the onslaught of financial and business depression in the country especially in Jammu because of the tremulous condition due to militancy.
Chadha further said this loan package is specifically meant for financially rich units and which are considered as standard assets for the Banks, which means only those who are working perfectly and in order to help them and ensure the continuity of their viable businesses.
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