Banks urged to increase working capital limit for MSMEs

The Coimbatore Compressor Industries Association has sought intervening time elevate in working capital limit for MSMEs as prices of fundamental uncooked materials, including copper, aluminium, and steel has spiked 30% to 80% in the final six months.

In a memorandum submitted to the Reserve Bank of India, the Association president M. Raveendran sought up to twenty% of the working capital limits must be increased the same to the Emergency Credit Line Guarantee Plot. Further, the working capital loans and advances extended to industries are for the time being subjected to annual renewal route of provocative broad clerical works on both, bankers and industries.