RBI, in today’s monetary policy, announced measures for MSMEs including opening a Rs 15,000 crore On-Tap Liquidity Window at repo rate for contact intensive sectors, special liquidity of Rs. 16,000 crore to SIDBI and increase in exposure under Resolution Framework 2.0 .
Basis the same, please find appended the quote by Mr. Shachindra Nath, Executive Chairman and Managing Director, U GRO Capital. Have also attached his high-resolution picture and company logo for your reference.
“The opening of a special liquidity window of INR 15,000 crore till March 31, 2022, will act like a lifeline for affected hospitality and tourism sectors. It is appreciative of RBI to address the pandemic effects on multiple micro and small businesses like salons, car repair and rental services, who saw miniscule business. The measures announced would certainly assist in their revival process. Towards supporting the larger MSME ecosystem, RBI has decided to extend a special liquidity facility of ₹16,000 crore to SIDBI for on-lending/ refinancing through novel models and structures. The impact will be visible in ensuring sustained credit flow in the real economy. Further expanding the Resolution framework 2.0 from Rs. 25 crore to Rs. 50 crore will extend the credit coverage to a higher number of individuals and businesses . Considering the significant contribution of MSMEs to GDP, the relief measures will catalyze MSME recovery and further stimulate financial stability in the economy.“
About U GRO Capital Ltd.:
U GRO Capital limited is a BSE listed, small business lending fintech platform. The Company is focused on addressing capital needs of small businesses operating in select eight sectors by providing customized loan solutions. U GRO Capital’s mission is ‘Solve the Unsolved’ – Small Business Credit Need. U GRO Capital believes that the problem of small businesses can be solved by building deep expertise around core sectors of SMEs in India coupled with a data centric, technology-enabled approach. The Company has raised ~INR 920 crore of capital from a diversified set of private equity funds like institutional investors and well-known family offices. The Company strives to build a strong SME financing platform based on sectoral understanding supplemented by a fully integrated technology and analytics platform.