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SEPTEMBER - 2019
Also, take it easy on MSME loan recovery
In another measure to make life a little to review Mudra loans amid fears of a rise
more easy for the micro and small scale in NPAs in these accounts.
industry, the Centre has asked the State-
controlled Banks to go slow on the The NPA on Mudra loans by public sector
recovery of loans from the micro, small banks, which also included regional rural
and medium enterprises (MSMEs) in light
of the fact that the economic downturn banks, jumped to Rs 17,250.73 crore as
may have restricted their capacity to repay on March 2019.
the dues on time.
At the same time, the lenders have also
According to media reports, the Finance been asked to ensure unhindered credit
Ministry has also asked State-run banks flow to micro, small and medium units.
Monitor process to clear delayed payments to
vendors by Oct 15
Ministry, and said more clarity on the
monitoring mechanism will add more
credibility to the announcement.
Recently, the Finance Minister who
reviewed capital spending programmes
with heads of central public sector
enterprises, said state-owned companies
have also been asked to set up a portal by
After Union Finance Minister, Smt.
Nirmala Sitharaman fixed October 15 as October 15 where service providers,
the deadline for central Public Sector vendors and contractors can track bills
Undertakings (PSUs) to clear overdue and payments so that liquidity crunch is
payments to MSME vendors and exhorted mitigated.
them to front-load capital expenditure, the Centre considering Policy to check
experts opine that monitoring is a must to delayed payment to MSMEs: The Union
ensure the payments are done. MSME Ministry is seriously considering to
Hailing the announcement made by the introduce a policy to check delayed
Finance Minister, Sri Srinivas payments to MSMEs from major
Asranna, President, PIA said this move industries, public entities, State and
will not only give some relief to Micro, Central governments.
Small and Medium Enterprises The Centre is working on a policy by which
(MSME), but added that monitoring is the MSMEs would get payments within 45
must to keep a tab over what is being days of supply and those failing, and
done and what else can be done. unable to sanction payments within 45
The PSUs should be asked to provide days, would attract an interest burden of
the data by March 31 to show up to 14 per cent.
what amount they have cleared the While a committee under the Ministry is
dues by October 15 from their end, he already working on formulating policy, the
said, and at the same time wondered as Ministry has also developed a delayed
to how will this process work, whether payment monitoring system - MSME
the PSUs will clarify this themselves or Samadhaan portal in which MSMEs can
they will be reminded by the Finance lodge complaints about delayed payments.
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