MSME pack­age can help 7 crore ac­counts: Fin Secy

Deccan Chronicle - - Financial -

The RBI’s re­struc­tur­ing pack­age for small firms an­nounced last month will help re­cast Rs 1 lakh crore of loans for 7 lakh el­i­gi­ble MSME, a top of­fi­cial has said. The es­ti­mate from the dept. of fi­nan­cial ser­vices sec­re­tary Ra­jiv Ku­mar is much higher than Icra’s as­sess­ment of Rs 10,000 crore. He said 7 lakh MSME units need re­struc­tur­ing. “They all can be re­struc­tured till March 2020 with­out down­grad­ing the as­set. Rs 1 lakh crore worth loans will get re­struc­tured,” Ku­mar said.

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