New Delhi
“Banks may be asked to delay the declaring companies’ accounts as NPA for 1 year as the lack of business coupled with fixed cost will make many accounts NPAs,” he said in a statement. “The existing working credit limits of exporters with the banks may be automatically enhanced by 25 per cent, if so desired... All existing Export Promotion Schemes must continue till March 31, 2021 at least.” He said as per current trend, MSMEs particularly in employment intensive sectors like carpets, handicrafts, apparels, footwear, gems and perishable, with their major market in Europe and the US are likely to be worst affected.
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