A huge jump in duty-free garment imports from Bangladesh under the free trade agreement has put the domestic industry in a fix. This comes amidst slowing domestic demand and banks curtailing credit to 80 per cent of MSMEs (micro, small and medium enterprises) in the sector.
Businesses, especially MSMEs, require a steady source of finance if they are to meet the hiccups of kick-starting their business and growing it.
To help manufacturers of low value products to reduce cost of production, the government should promote large scale apparel manufacturing by incentivising medium-sized firms to scale up to large-sized, the Indian Texpreneurs Federation (ITF) has said. In FY 2018-19, twenty per cent of the items in high volume products basket were priced below $3 per apparel.
NEW DELHI: The country's largest bank, the State Bank of IndiaNSE -0.49 %, has been found flouting several rules in its attempt to cover up non-performing assets (NPAs), according to the RBI's annual inspection report.
THIRUVANANTHAPURAM: With an aim to increase tax collection by 30%, the state GST department is gearing up for raids and assessment drives.
With reference to ‘RBI Governor expects to lower lending rates’ (July 9), wherein it was mentioned that ₹1.34 lakh crore window is made available to banks under facility to avail liquidity for liquidity coverage ratio (FALLCR). There is a growing opinion that banks can make use of this facility and increase their exposure to NBFCs. This is not true.