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2010-06-14

SMEs might find it easier to get bank loans

There might be good news for borrowers in the small and medium retail and priority sector. According to a survey conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI) those i

There might be good news for borrowers in the small and medium retail and priority sector. According to a survey conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI) those in retail, priority and small and medium enterprise (SME) segments might find it easier to get loans from banks once the base rate linked lending regime starts from July 1, 2010.

 

The Reserve Bank of India has asked all banks to switch to the base rate system, from the extant benchmark prime lending rate (BPLR) system in order to make credit pricing more transparent and enable smoother transmission of monetary policy actions.

 

The survey also pointed out that it will be difficult for high rated companies to get funding. This will mean corporate will find raising money from banks costlier.

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