INCREASED NPAS IN MSMES

Despite a host of loan restructuring schemes and packages announced by the Reserve Bank of India (RBI) and the government, the Covid pandemic has hit the Micro, Small and Medium Enterprises (MSMEs) very hard.
Gross Non-Performing Assets (NPAs) of MSMEs, or loans defaulted by these enterprises, rose by Rs 20,000 crore to Rs 1,65,732 crore as of September 2021 from Rs 1,45,673 crore in September 2020.
Bad loans of MSMEs now account for 9.6 % of gross advances of Rs 17.33 lakh crore as against 8.2 % in September 2020.
Earlier, the Ministry of MSME launched the MSME Innovative Scheme (Incubation, Design and IPR) along with the MSME IDEA HACKATHON 2022.

SOURCE: THE HINDU,THE ECONOMIC TIMES,MINT

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