Home / Knowledge / News / Textiles / 'We welcome recommendations of credit delivery to MSE sector' – FIEO

'We welcome recommendations of credit delivery to MSE sector' – FIEO

05
May '09
Mr A Sakthivel, President, Federation of Indian Export Organisations (FIEO) while commenting on recommendations of Committee on Credit Delivery to the Micro and Small Enterprises Sector stated that the recommendations if implemented would enable a uniform and transparent loan policy governing extension of credit facilities; restructuring policy for potentially viable sick units and a One Time Settlement (OTS) for recovery of non-performing loans.

The FIEO Chief stated the recommendations inter-alia suggested an independent rehabilitation fund with a corpus of 1000 crores at a concessional rate of 5-6% and an industry specific interest subsidy scheme for SME's on the pattern of TUF's for technology upgradation, the implementation of which would enable SME's to acquire / invest in the same.

Mr A Sakthivel, however, regretted that inspite of the reduction in the repo / reverse repo rates by RBI, banks have “parked” a record Rs.1,45,000 crores with RBI at 3.25% under the reverse repo window on 5th May, 2009 and continue to be diffident about lending to the MSME export sector.

Federation of Indian Export Organisations


Must ReadView All

Vietnamese side of the border crossing with Hekou, China. Pic:  Klodien | Dreamstime.com

Textiles | On 27th Nov 2021

Efforts on to boost trade between Chinese & Vietnamese provinces

Trade agencies of Lao Cai province in the northwest region of Vietnam ...

Pic: Shaja | Dreamstime.com

Textiles | On 27th Nov 2021

US’ imports of polyester textured yarn to drop in coming months

The US’ imports of polyester textured yarn of HS code 540233 are...

Pic: Tatiyana Akimova | Dreamstime.com

Textiles | On 27th Nov 2021

Sri Lanka’s textile & garment exports on path to cross $5bn this year

After registering a steep fall of 21 per cent year-on-year to $4.423...

Interviews View All

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Gaurav Davda, Jindal Worldwide Ltd

Gaurav Davda
Jindal Worldwide Ltd

Indian MMF sector to become globally competitive

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

Rishav Bajoria & Subham Sengupta,

Rishav Bajoria & Subham Sengupta

Launched in October 2020, the Gumti app could not have come at a more...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

Late Indian fashion designer Wendell Rodricks, is known for his...

Rocky Star, Label - Rocky Star

Rocky Star
Label - Rocky Star

<b>Rocky Star,</b> an Indian designer known for his inspiration from the...

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

Leave your Comments


November 2021

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


Advanced Search