AEPC welcomes RBI announcement

Chairman of Apparel Export Promotion Council A. Sakthivel has said that the Reserve Bank of India policy review on Friday will facilitate the industry to bounce from the impact of COVID-19. As the cou

Chairman of Apparel Export Promotion Council A. Sakthivel has said that the Reserve Bank of India policy review on Friday will facilitate the industry to bounce from the impact of COVID-19. As the country is recovering from the dent caused by the second wave of the pandemic, which has hampered the economic activities, the special measures announced on Friday, as part of the monetary policy, will support the industry to come out of this crisis,” he said. “Another major decision that will go a long way in protecting the Indian economy is the widening of the eligible beneficiaries under Resolution Framework 2.0 by enhancing the maximum aggregate exposure threshold from ₹25 crore to ₹50 crore for MSMEs. This will support the MSMEs, which are under stress and enable a larger set of borrowers to avail the benefits,” he said.