BREAKTHROUGH ANNOUNCEMENT for 2.5 crore retail, wholesale traders; to be brought under the MSME scope, turn beneficiary observes RBI, ANNOUNCES proudly Nitin Gadkari, Ministry of Micro, Small & Medium Enterprises (M/o MSME).
The move aims in a targeted manner that this inclusiveness shall help this uncovered trade segment get much needed benefit of priority sector lending under the Reserve Bank of India (RBI) notified guidelines.
Precursor to MSME new notification: Govt revisited turnover limits last year.
Centre accords much needed MSME status to retailers and wholesale traders. Getting term loans from MSME schemes besides conventional lenders a reality now.
As per Kumar Rajagopalan, CEO Retailers Association of India (RAI),"Move will help retail sector get formalised"
Traders' associations hailed the decision, said Praveen Khandelwal, secretary general, Confederation of All India Traders (CAIT).
“But, the concern is how broad based will the scope/ ambit be
Will this be covering those retailers, wholesaler & traders who already have access to banking finance and still be eligible & entitled to all the incremental benefits,”
Inclusiveness for Wholesalers & Retailers a Path 'Breaking Move'