Interview | Rs 6.9 lakh cr sitting idle in banks can be given to stressed MSMEs: Niranjan Hiranandani

 Indian MSMEs have been a resilient lot. After the problems faced due to the demonetisation and GST, Indian small businesses have remained steadfast in overcoming the current Covid and lockdown-induced challenges. So much so that majority are confident in recovering back to pre-Covid level by end of this year itself. And these are beyond over 50 lakh MSMEs, which the government envisaged, to be benefitted under various sub-scheme of the Atmanirbhar campaign such as the emergency credit scheme, EPF support, subordinate debt etc. “However, the magnitude of the losses is so huge that whatever you do seems inadequate at this stage,” Dr Niranjan Hiranandani, President, Assocham and Co-founder & MD, Hiranandani Group told Financial Express Online in an interview.

Source Link : https://www.financialexpress.com/industry/sme/cafe-sme/msme-eodb-interview-rs-6-9-lakh-cr-sitting-idle-in-banks-can-be-given-to-stressed-msmes-niranjan-hiranandani/2084810/