Summary:
“The banks should take up loan dues and the subsequent classification as NPA on a case-to-case basis instead of following the blanket norms on NPA classification. The exporters here are seeking for a revisit to the NPA policy by banks through government channels since such changes needed intervention of various monetary policymakers. more-inWith huge amounts of incentives and dues pending from the government to them, the garment exporters here wanted the banks to take cognisance of the receivables from the government side while classifying their loan accounts as non-performing assets (NPA). “The banks should take into consideration how much dues are pending for a particular industrialist and proportionally compute the loan portion which should be turned NPA, said TEA president Raja M.
Shanmugam. Currently, the pendency of dues under Remission of State Levies scheme alone stand at ? 450 crore collectively for the Tirupur knitwear cluster, according to the statistics compiled by the Tirupur Exporters Association..