BCIC flags key issues to alleviate pandemic-struck businesses
The Hindu
‘Measures suggested by RBI are yet to make significant impact’
Industry body Bangalore Chamber of Industry and Commerce (BCIC) on Wednesday urged the Reserve Bank of India (RBI) to immediately address five key issues — credit flow to industries, MSMEs and funds, job incentivisation, revival of Non-Banking Financial Companies (NBFCs), and demand creation.
“The Government of India through the RBI brought out a slew of measures to alleviate the problems faced by small businesses. However, the measures suggested by the RBI are yet to make a significant impact on the ground,” said the BCIC in a statement.
The industry body released a report titled ‘BCIC’s recommendation on RBI economic policy implementation post pandemic’ and highlighted that COVID-19 affected the world on an unprecedented scale.
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