The Finance Ministry is set to hold a review meeting with public sector banks to assess the impact of the US 50% tariff hike on the micro, small, and medium enterprises (MSME) sector and assess their credit requirements.
The meeting, chaired by Department of Financial Services Secretary M Nagaraju, aims to understand how external trade pressures are affecting MSMEs and ensure adequate credit support continues under existing government initiatives.
The high-level meeting will review the flow of funds through financial inclusion initiatives such as MUDRA and credit guarantee schemes.
MSMEs in the engineering sector have recently met RBI Governor Sanjay Malhotra to highlight the sector’s vulnerability and seek assistance in reducing borrowing costs.
Source – sarkaritel.com
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