The Southern India Engineering Manufacturers’ Association (SIEMA) welcomed the move of the Reserve Bank of India and the Finance Ministry to waive off levy on foreclosure charges for working capital for MSES which was represented during the visit of Nirmala Sitharaman, Union Finance Minister to Coimbatore on 11th September 2024.
SIEMA also wishes to thank the Finance Minister for her efforts and further said this is a great relief to the MSE sector and will go a long way in ensuring that the companies are able to avail the services of the best banks and NBFCs. Also stated that the waiver gives them confidence that their voice is being heard.
