2-pronged approach to get MSMEs’ dues cleared before Diwali: FM Nirmala

Union Finance Minister Nirmala Sitharaman met executives of Public Sector Banks on Monday. She also commented on the fund squeeze experienced by many micro, small and medium enterprises. Sitharaman said that the Ministry of Corporate Affairs has a list of companies which owe MSMEs. She revealed that these firms have admitted that they owe MSMEs Rs 40,000 crore. The minister also listed a two-pronged approach to ensure that MSMEs' dues are cleared before Diwali.