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Biz EOD: MSMEs' top demands; RBI Guv bats for small depositors; India receives 7% higher rainfall

BusinessToday.In     September 16, 2020

Battling for survival in the wake of economic crisis, micro, small and medium enterprises (MSMEs) have called for suspending strict lending norms by banks and mandatory credit rating for loans above Rs 5 crore. RBI Governor Shaktikanta Das invoked the 'depositor interest' and 'financial stability' while defending the new time-bound loan restructuring scheme for select 26 COVID impacted sectors. Monsoon rains in India were 7 per cent above average this year, so far the best in five years, which led to 5.7 per cent year-on-year jump in sowing of crops, said a CRISIL report. Read for more top stories from the world of business and economy:

1. Fund infusion in troubled firms, easing NPA norms top MSMEs' demands

Industry body Federation of Indian Micro, Small and Medium Enterprises (FISME) has demanded that banks should not charge interest for the lockdown period.

2. RBI Governor Shaktikanta Das bats for small depositors, defends loan restructuring scheme

RBI Governor outlines whole rationale and reasoning behind restructuring scheme, says it has to be a very balanced and careful call on part of the RBI.

3. COVID-19: Engineers, physicians, teachers, accountants' jobs worst hit

Software engineers, physicians, teachers, accountants, analysts, among others are the professionals who saw the biggest loss of jobs among salaried employees due to coronavirus lockdown since late March 2020.

4. India receives 7% higher rainfall; sowing up 5.7% annually: CRISIL

As per the report, advancement in sowing has led to buoyant demand for agricultural inputs in the first quarter of this fiscal, albeit on a low base.

5. Tata Projects wins bid to construct new Parliament building for Rs 862 crore

Tata Projects Limited (TPL) on Wednesday won the contract to build a new Parliament building at a cost of Rs 861.90 crore.

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