Home / Knowledge / News / Lending rate cuts for MSME sector on cards
Lending rate cuts for MSME sector on cards
11
Jun '09
Mr A Sakthivel, President, Federation of Indian Export Organisations (FIEO) thanked the Hon'ble Finance Minister for urging banks to cut borrowing rates for the MSME export sector so that the environment of rapid growth is restored .

The FIEO Chief stated that bank credit after remaining stagnant in the recent past have dropped Rs. 16,306 crores for the last two weeks ended May 22, 2009 thereby taking outstanding advances to Rs. 27,35,750 crores. Further, bank credit had dropped to 15.86% or Rs. 3,74,543 crores on year-on-year basis through 22nd May, 2009.

Mr Sakthivel, President, FIEO elaborated that the credit growth was far below the expectations of the Central Banks projections of 18-20% for 2009-2010 and with announcement made by the Hon'ble Finance Minister suitable rate cuts would yield better credit offtake to ensure the targeted GDP growth.

President, FIEO stated that a reduction of PLR by 50 to 75 basis points may bring about a corresponding reduction in the cost of credit for the MSME export sector which in turn may improve export order situation.

Federation of Indian Export Organisations


Must ReadView All

Apparel/Garments | On 23rd Jun 2017

Alfredo Grassi to develop graphene-enhanced workwear

Alfredo Grassi, manufacturer of customised protective clothing,...

Textiles | On 22nd Jun 2017

Zund unveils cradle feeder roll-feed system for fabrics

Zund Systemtechnik AG, Switzerland’s textile machinery firm that...

Courtesy: Napapijri

Apparel/Garments | On 22nd Jun 2017

Napapijri's Superlight Parka is free of fur and down

Napapijri has introduced the new Superlight Parka, a new lightweight...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search