-The Indian Express PM wary of open-ended provisions: Fund for MSME with guarantee likely. AS the Covid pandemic and the prolonged lockdown batter all sectors of the economy, the government, sources said, is working on a rescue package that, for now, may address the needs of the micro, small and medium enterprise (MSME) segment rather than the larger Corporate sector. More than six meetings have been held at the Prime Minister’s Office —...
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Lockdown has thrown up huge challenges for trucking business -N Chandrasekaran
-The Hindu Business Line Apart from getting truck drivers and warehouse employees back to their job, logistics operators have to grapple with working capital needs and supply chain inefficiencies A lot has been spoken about the effects of Covid-19 on the economy. The government, large corporates, and the MSME sector are keen to reboot activities that have come to a halt due to the lockdown. Logistics, including transportation, warehousing, order management, and...
More »Banks red-flag looming retail loan default, push for 6-month moratorium -George Mathew & Anil Sasi
-The Indian Express The extended lockdown across the manufacturing and services sectors, the resultant job losses along with the wave of salary cuts are projected to start impacting the repayment capacity of retail borrowers. Mumbai/ New Delhi: The possibility of loan defaults spilling over from the Corporate sector to the retail segment, a key growth area for lenders in recent years, has been flagged as a growing concern by bankers at a...
More »Unorganised workers have been hit hard, need direct payments, India Inc tells PM Modi -P Vaidyanathan Iyer
-The Indian Express Over the last few weeks, many daily wage labourers and part of the unorganised or informal sector could not find work because of the lockdown. AT LEAST six top corporate leaders are said to have recommended to Prime Minister Narendra Modi that the government should make payments to unorganised sector workers since they bear the brunt of the severe lockdown measures to arrest the spread of Covid-19 disease. N Chandrasekaran,...
More »NBFC association seeks three-month moratorium on EMI payments
-The Financial Express NBFCs are at the forefront of financing many of the affected sectors, notably small road transport operators, taxi aggregators, infrastructure contractors, MSMEs, traders etc. After banks wrote to the regulator asking for moratorium on corporate repayments, their non-banking counterparts have sought a three-month moratorium on equated monthly instalment (EMI) payments by their customers as much of the country goes into lockdown mode. Non-banking finance companies (NBFCs) are also asking...
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