The MS&ME which is the backbone of employment and economy in India is paralysed and on a death slide if government does not take action on following 5 key demands immediately :
1. Banks should be asked to charge only 65 percent of interest for the lockdown period on business terms loans and cc , and should decrease rates in line with repo rate reduction. This will reduce NPA.
2. Business related rentals should be waived off and a sum of 20 percent which is normally considered as mentainence cost should be paid to lessors.
3. Salaries should be paid to the extent of 70 percent by companies and 15 percent support from government welfare schemes. No contribution for esi pf should be made in this period.
4. Banks should provide interest free moratorium for 6 months for interest payments.
5. Export incentives should be increased for all products by 4 percent flat drawback scheme to boost economic activity by making export competitive for one year period.
Let us all come together and unite our voices and send this application to the government so that they can understand.
[email protected], [email protected], [email protected], [email protected], rdmumbai@rbi.org.in, [email protected]
6 Comments
If bank would not provide working capital as a long term loan without interest then we have to shut down our unit after ending of lock down. No if and buts are there.
The govt should take prudent steps in the interest of the trade.
I really accept it
I support the petition completely. Consideration should also be made about waiver of full container detention and ground rent charges levied by shipping lines and cfs for the lockdown period plus Contractual terms.
MSMEs, Businessmen and Traders are the backbone of Indian Economy. Government must come forward with lifeline support to these communities, immediately. Time is running out very swiftly like sand from hands.
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The MS&ME which is the backbone of employment and economy in India is paralysed and on a death slide if government does not take action on following 5 key demands immediately :
1. Banks should be asked to charge only 65 percent of interest for the lockdown period on business terms loans and cc , and should decrease rates in line with repo rate reduction. This will reduce NPA.
2. Business related rentals should be waived off and a sum of 20 percent which is normally considered as mentainence cost should be paid to lessors.
3. Salaries should be paid to the extent of 70 percent by companies and 15 percent support from government welfare schemes. No contribution for esi pf should be made in this period.
4. Banks should provide interest free moratorium for 6 months for interest payments.
5. Export incentives should be increased for all products by 4 percent flat drawback scheme to boost economic activity by making export competitive for one year period.
Let us all come together and unite our voices and send this application to the government so that they can understand.
[email protected], [email protected], [email protected], [email protected], rdmumbai@rbi.org.in, [email protected]
6 Comments
Sir, We are not earning a single rupee during this period, it would be appropriate on part of government to issue some waiver guidelines for commercial landowners, so as to bring relief to small Msme's like us, whose rental bills are in lakhs.
If bank would not provide working capital as a long term loan without interest then we have to shut down our unit after ending of lock down. No if and buts are there.
The govt should take prudent steps in the interest of the trade.
I really accept it
I support the petition completely. Consideration should also be made about waiver of full container detention and ground rent charges levied by shipping lines and cfs for the lockdown period plus Contractual terms.
MSMEs, Businessmen and Traders are the backbone of Indian Economy. Government must come forward with lifeline support to these communities, immediately. Time is running out very swiftly like sand from hands.
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Sir, We are not earning a single rupee during this period, it would be appropriate on part of government to issue some waiver guidelines for commercial landowners, so as to bring relief to small Msme's like us, whose rental bills are in lakhs.