RBI (Reserve Bank of India) has decided to give big relief to small companies. After the policy review on February 7, RBI governor Urjit Patel has said in the press conference that small businessmen will no longer have any problem with liquidity. In the next slide, know what is the RBI decision-
After the GST came into force, the RBI has taken steps to reduce the negative impact on the small capitalization of the small companies with their reduced capital. It is clear that NPA rules have been simplified for GST registered small industries.
Ravi Kishan Takkar, MD of UCO Bank, says that after the GST, small businessmen were facing problems of cash, but the decision could return to smaller companies in the next six months.
Apart from this, the limit of debt on companies of MSME Sectors has been removed. It is clear that earlier these companies could have borrowed up to Rs 5 crore to 10 crore rupees, but now they can borrow more than this.
The platform is only for complaints related to the bank, but the Reserve Bank has now decided to implement these systems for non-banking companies as well. These systems will help in solving grievances related to common people. This facility will start by the end of this month. These systems will start for deposit-taking companies right now. This scheme will also be for companies having an asset size of more than 100 crores.