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2009-12-30

Credit likely to be costlier for MSME sector: FIEO

Some bad news for SMEs as Federation of Indian Export Organisations (FIEO) President, A Sakthivel hints at credit becoming costlier. The FIEO chief said in a statement that the inclination of the bank

Some bad news for SMEs as Federation of Indian Export Organisations (FIEO) President, A Sakthivel hints at credit becoming costlier. The FIEO chief said in a statement that the inclination of the banks to lend idle cash to larger corporates may impact interest rates for the MSME export sector.

 

He further elaborated that the diffidence of the banks in lending to the MSME export sector and services is due to a higher risk perception which is reflected by the moderation in priority sector lending to 17.5% as against 22.7% last year with sectors such as services showing the sharpest fall from 33.7% to 11.0% at present.

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