Exporters welcome Reserve Bank of India's announcements

The Tirupur Exporters' Association on Friday welcomed the enhancement of the exposure thresholds limit under the Resolution Framework 2.0 announced by the RBI, from Rs 25 Crore to Rs 50 Crore for MSMEs and others. TEA President Raja M Shanmugham, in a release, also welcomed the measure to include the flow of credit Rs 15,000 Crore to the SIDBI to further support to MSMEs, which will be beneficial to Tirupur units.

He also lauded the decision to extend a special liquidity facility of Rs 16,000 Crore to SIDBI for on lending/refinancing through novel models and structures and unchanged repo rate at four per cent.

Shanmugham thanked RBI Governor Shaktikanta Das for the financial measure by enlarging the coverage and support the MSMEs to get revived and witness growth strategy.