A survey jointly done by the Skoch Consultancy Services and The Federation of Indian MSMEs (FISME) on the 400 small business groups across the country reveals that the NPA crisis is set to rise up followed by the job cuts. The industries were not able to fully utilize the government package announced amid the pandemic as the banks were reluctant to lend. Despite the government’s announcement Rs 3 lakh crore collateral free loans till now only 1.27 lakh crore worth of loan has been dispersed. However reduction has been marked by the industries to have the salary cuts of the staff between April and June.
Read More at Economic Times