"The Reserve Bank of India is providing Rs50bn ($800m) to small enterprises for refinancing, a boost to businesses that are suffering from tight liquidity as Asia’s third largest economy slows.
The central bank explained the move in a statement on Monday:
The liquidity support comes in the wake of slowdown in the economy which has resulted in liquidity tightness in a large number of Micro and Small Enterprises (MSEs) in the manufacturing and services sector, particularly due to delayed settlement of receivables from large corporate, Public Sector Undertakings and government departments."
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