An industry body has commented that the RBI’s move in a restructuring of advances for MSMEs may fail to achieve its intended objective in supporting the MSMEs while avoiding the increase of NPAs in the bank. The Consortium of Indian Associations statement also highlights the economic scenario before the COVID-19 pandemic and suggests of the cut off date to be December 31, 2019. The CIA has also made several suggestions to help both the banks and the entrepreneurs.
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