Finance minister Nirmala Sitharaman today said that Government is  closely monitoring transmission of repo rate cut  by the Banking Sector. Addressing a virtual meeting with PHD chamber of commerce members, she said government recognises efforts of wealth creators in ing India’s growth story.

The Finance Minister acknowledged that the Prime Minister has always facilitated a helping hand and recognised MSMEs. She said government is closely monitoring the situation in consultation with banks so that relief measures announced by the Government are effectively percolated at ground levels.

The Finance Minister stated that they are closely watching the developments in disbursement of loans under the provision of 3 lakh crore rupees collateral free automatic loans for businesses. Mrs Sitharaman said, the Government has always focused on Minimum Government and Maximum Governance with a special focus on addressing challenges faced by Industry and promote ease of doing business.  She said, the Government has always provided a helping hand without differentiation to all industry stakeholders especially to MSMEs.