PHD CHAMBER WELCOMES RBI’S MOVE FOR 180 DAYS TIME TO CLEAR OFF MSMEs DUES

PHD CHAMBER WELCOMES RBI’S MOVE FOR 180 DAYS TIME TO CLEAR OFF MSMEs DUES

PHD CHAMBER WELCOMES RBI’S MOVE FOR 180 DAYS TIME TO CLEAR OFF MSMEs DUES

No.PR-157

February 8, 2018

New Delhi

PHD CHAMBER WELCOMES RBI’S MOVE FOR 180 DAYS TIME TO CLEAR OFF MSMEs DUES

PHD Chamber of Commerce and Industry has complimented the RBI for its move to give MSMEs additional up to 180 days to clear dues to banks, describing it a decision in the right direction and give a general fillip to this segment of industry for its overall uplift.

In a statement issued here today, President, PHD Chamber, Mr. Anil Khaitan said that the Chamber was for long pressing for this as it largely represents the MSMEs in the country that’s working and fiscal position had worsened on account of demonetization and even GST.

Large number of GST registered MSMEs have been facing financial problems as well as imbalances on credit front on account of twin reforms introduced recently needed a relief to clear off their dues to the banks in the restricted period of 90 days, felt Mr. Khaitan.

According to him, the 180 days time should be enough for MSMEs to clear off their dues and these would get sufficient mileage on account of this to improve and strengthen their balance sheet.

 Ends.

Koteshwar Prasad Dobhal

Consultant (PR)