CII asks RBI for separate SME financing
Updated: Oct 22, 2013 12:05:44pm
During a meeting with RBI Governor Raghuram Rajan here, Associated Chambers of Commerce and Industry of India (ASSOCHAM) said there was a need for municipal corporations to support fundraising activities.
It said the top bank should create a framework for developing a liquid municipal bond market in India as it would allow civic bodies to raise money for 10-20 years, which is ideal for urban infrastructure financing.
Rajan, who is due to announce his first half-yearly monetary policy on October-29, had met with industrial houses and rating agencies to gauge their views on the economy and liquidity in the system. (KNN/ST)