MSMEs seek easing of Basel norms in banking

Corporations within the micro and small and medium enterprises sector have sought easing of banking sector norms more particularly Basel norms to facilitate lending to models which were affected by Covid-19. Basel norms are worldwide banking laws issued by the Basel Committee on Banking Supervision (BCBS) to fortify the banking system.

As a part of its suggestions to the Finance Ministry, the Federation of Indian Micro and Small & Medium Enterprises (FISME) has also urged that offline and online sellers ought to be handled at par in GST to allow smaller MSMEs leverage ecommerce.

Within the run as much as the Union Budget of subsequent years, finance minister Nirmala Sitharaman has been holding conferences with stakeholders from numerous industries.