Banks urged to increase working capital limit for MSMEs

The Coimbatore Compressor Industries Association has sought interim summation successful moving superior bounds for MSMEs arsenic prices of basal earthy materials, including copper, aluminium, and alloy has spiked 30% to 80% successful the past six months.

In a memorandum submitted to the Reserve Bank of India, the Association president M. Raveendran sought up to 20% of the moving superior limits should beryllium accrued akin to the Emergency Credit Line Guarantee Scheme. Further, the moving superior loans and advances extended to industries are presently subjected to yearly renewal process involving tremendous clerical works connected both, bankers and industries.