Industry And Cluster | News & Insights

TEA writes to FM on MSMEs with outstanding credit ₹25 cr+

Published: June 4, 2020
Author: TEXTILE VALUE CHAIN

The Tiruppur Exporters’ Association (TEA) recently requested finance minister Nirmala Sitharaman to ask the Reserve Bank of India (RBI) to relax the eligibility condition for micro, small and medium enterprises (MSMEs) for the recently-announced Emergency Credit Line Fund so that MSMEs having credit exposure of more than ₹25 crore can also receive 20 per cent of outstanding credit.
In a press release, TEA president Raja M Shanmugham said this is needed to allow such MSMEs to start operations and continue to provide employment, bring them back to normalcy and revive exports.
A separate representation on the same issue has also been sent to the Prime Minister Narendra Modi.

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