Indian business group urges financial reforms to support struggling small and medium enterprises.

FISME, an Indian MSME representative, has urged Finance Minister Nirmala Sitharaman to revise the Special Mention Account (SMA) framework to better support stressed MSMEs. The current SMA framework is criticized for leading to premature closures without measures for revival. FISME also seeks to eliminate mandatory Business Loan Ratings (BLR) for MSMEs and reduce collateral requirements to promote business growth. The organization emphasizes the need for tailored financial support and export financing for these businesses.

3 months ago
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