Attributed to LVLN Murty, MD & CEO:

“I congratulate the government for presenting an inclusive budget and underlining the fact that MSMEs are the growth engines of our economy. We welcome the move to enhance turnover limits to Rs 3 crores and Rs 75 lakh respectively for micro enterprises and certain category of MSME professionals to be eligible for presumptive taxation.  The Finance Minister’s announcement about a revamped credit guarantee for MSMEs effective from April 1st, 2023, through infusion of Rs 9000 Crore in the corpus is sure to help the ecosystem and open up more credit lines for MSMEs. This will also help NBFCs to bring cost-effective credit underwritings, especially for small borrowers and help to conclude end-to-end digital processing efficiently with standard checks and balances with shorter turnaround time. Focus on sector specific skilling and entrepreneurship development will help rural women gain financial independence. Rural women will stand benefitted if more awareness is created about the opportunities available and about the schemes of the government to support them. Simplification of KYC and making PAN the single identifier for all financial transactions will also help NBFCs like ours to push for financial inclusion across our rural markets.”