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Below are Views on RBI Monetary Policy by Manish Patel, Founder and CEO, Mswipe

Today, RBI’s Monetary Policy Committee headed by Governor Shaktikanta Das announced the Monetary Policy keeping the benchmark interest rate unchanged amidst the uncertainty surrounded by the pandemic. It also announced the opening of Rs. 15000 Crores on-tap liquidity window for contact intensive sectors and extended an additional special liquidity facility of Rs. 16000 Crores to SIDBI to support the MSMEs.

On that note, please find below the quote by Mr. Manish Patel, Founder and CEO, Mswipe, India’s leading financial services platform for SMEs.

Manish Patel, Founder & CEO, Mswipe said, “RBI's move on extending Rs. 15,000 crore liquidity window for contact intensive sectors comes as a huge relief to MSMEs. The MSME sector has been adversely affected due to the second wave of the pandemic as they are experiencing shortage of working capital with cash flow drying up and abysmally low demand from consumers.  While the lockdown-like restrictions will continue to impact hospitality industry, travel industry and beauty and salon segment for the coming months as well, merchants will continue to face revenue pressures. This move will help these sectors tide over the cash crunch and working capital issues.”

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