In a press release, TEA Chairman Raja M Shanmugham said the increase in cotton yarn prices and the irregular supply of yarn over the past four months had severely affected the knitwear industry, especially MSMEs, who find it difficult to support and exporting units have difficulty repaying the FITL.
The Reserve Bank of India (RBI) had decided to allow credit institutions to convert interest accrued on working capital facilities over the total deferment period of 6 months (i.e. March 1 to August 31, 2020) into a FITL, which will be fully reimbursed in the last fiscal year, ending March 31.
Another request has also been made to Sitharaman to advise RBI to allow the extension of the interest equalization program for an additional three years, which will help MSME exporting units calculate their costs accordingly and endeavor to take more export orders and maintain their activity.
Fibre2Fashion News Office (DS)
The Tiruppur Exporters Association has asked Finance Minister Nirmala Sitharaman to authorize the repayment of the interest-financed term loans in six equal monthly installments in order to stimulate the revival of micro, small and medium enterprises in the mesh cluster, which has not recovered due to declining exports and the re-emergence of COVID-19 in major European markets.
If you have larger bills to pay, pay them at once so that you can avoid being late. Make sure that you pay each bill in full. Once you have all of your bills paid in full, set up a payment plan.
Try to put everything aside for one bill at a time so that you can pay them one at a time. This is a good way to save money on your bills because you can pay them off one at a time instead of all at once.
Set up a savings account with your credit card so that you have extra money in case of an emergency. Take the credit card with you when you shop so that you won’t lose track of it.
There are plenty of emergencies where you can use cash, but you should know how to make use of them properly. Remember that you need to use the cash to pay for major purchases like food and gas. Don’t be afraid to use the money to make other smaller purchases as well.