Labeling norms: firms get 6 mnths

Manufacturers of packaged products will get at least six months to conform to labeling norms whenever there is a change.

Courtesy: Business Standard (July 28, 2009)

Govt, RBI steps ease MSME credit woes in Karnataka

Total loans to the sector, at Rs 16,919 crore, were up by 21 per cent in 2008-09 compared to the previous fiscal year.

Measures initiated by the Central government to help micro, small and medium enterprises (MSMEs) to recover from the ongoing downturn and the Reserve Bank of India’s efforts to increase liquidity in the banking system have yielded the desired results for Karnataka’s MSMEs.

Credit flow to the state’s MSME sector during the fourth quarter ended March 2009 grew by 15.02 per cent over the previous quarter ended December 2008. This follows the announcement of revised guidelines by the Central government and RBI, governing the flow of credit to the MSME sector. The banking sector has taken steps to increase the flow of credit, in line with the guidelines.

Courtesy: Business Standard (July 28, 2009)