KCCI seeks extension of NPA classification period
May 05, 2021
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Stressed Asset Restructure Scheme should be extended and norms eased to expand coverage, says industry body
The Kanara Chamber of Commerce and Industry (KCCI) has sought several measures, including lenient NPA norms, to save MSMEs (micro, small and medium enterprises) affected by Covid pandemic.
Reacting to the measures announced by RBI on Wednesday to alleviate finance constraints of various stakeholders, Isaac Vas, President of KCCI, told
BusinessLine that MSMEs are in critical condition because of the decline in business for the past one year due to Covid pandemic.
He said NPA classification period should be doubled to 180 days. This will help MSMEs to manage their finances better without pressure, he said.