BCIC comes up with report on RBI policy to revive businesses

The Bangalore Chamber of Industry and Commerce (BCIC) on Wednesday released its report containing recommendations on RBI economic policy implementation.

The chamber sought a slew of support to revive businesses, especially the small and medium businesses which it said were battling a liquidity crisis and the government needs to provide financial support.

The pandemic has had an enormous negative impact on businesses. While larger organisations could maneuver these trying circumstances, the small business had to face the brunt of the pandemic, it said.


The Centre through the RBI brought out a slew of measures to alleviate the problems faced by small businesses. But these measures are yet to make a significant impact on the ground, It said.

The objective of BCIC’s report is to address the gaps in implementation of these policies and recommend key measures that can be considered by RBI. This report shares `Risks that weighs on RBI’s policy implementation dilemma,’ the challenges that RBI has to keep an eye on, the revival of NBFCs/ HFCs/MFIs, MSME and funds, job creation, and incentivisation and demand creation with recommendation for each area to be considered for adoption by RBI, BCIC president KR Sekar said at the event.