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RBI panel on MSME recommends ₹15,000 cr funds for sector

Jun 26, 2019 20:34 IST

In a breather to the small, micro and medium enterprises, the UK Sinha panel set up by the RBI has recommended financial support of ₹15,000 crore to the MSME sector. The MSME sector which generates a significant number of jobs, along with contributing to India's GDP is currently under stress due to several challenges which is in turn affecting growth, said RBI. The panel has also suggested a ₹5,000 crore distressed asset fund to be set up along with a government-sponsored 'Fund of Funds' worth 10,000 crore be set up to support venture capital and private equity firms, who invest in the MSME sector.

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