The Chennai floods could put loans worth close to Rs 1-lakh crore, advanced to small businesses and the priority sector in Tamil Nadu, at risk. However, the bad loans are expected to show up only in the next fiscal as relaxations in repayment will obscure the stress for the initial period. Accord…
Tag: Chennai Floods
Chennai floods wash out Rs 1,700 crore MSME business | SMERA Report
Of the estimated Rs 15,000 crore losses due to the recent devastating floods in Chennai, coastal Tamil Nadu and the neighboring Puducherry, MSMEs bore the maximum brunt of about Rs 1,700 crore, says a report. On a most conservative side, MSME sector has lost nearly Rs 1,700 crore to the calamity …
Mudra Yojana to help MSMEs hit by Chennai floods
Mudra Yojana, a new financial system launched by Center is likely to help financially the Chennai flood affected MSMEs. This was decided following the visit of MSME Minister Kalraj Mishra, who inspected flood affected industrial clusters housing MSMEs in the city. The recent flood in Chennai ha…
Chennai flood leaves 50,000 jobless in MSME sector
Nearly 50,000 employees in nearly 10,000 micro enterprises located in and around Chennai have been left unemployed due to the recent torrential rains and flood that left their units damaged badly, said Kalraj Mishra, Union Minister for MSME. The number of affected employees could be more if the 3…