MSMEs can now access 9,000 factors to monetise their pending bills: Sitaraman....

 MSMEs can now access 9,000 factors to monetise their pending bills: Sitaraman.....

Finance minister Nirmala Sitharaman on Saturday said the recently enacted factoring regulations have raised the number of factors from nine to 9,000 as micro, small and medium enterprises (MSMEs) can now approach several non-banking financial companies (NBFCs) to monetise their pending receivables. Referring to the Factoring Regulation (Amendment) Bill that was passed in the monsoon session of Parliament, Sitharaman said the legislation aimed to benefit several MSMEs supplying goods and services to large companies and wait for months to get payments.

Finance minister Nirmala Sitharaman on Saturday said the recently enacted factoring regulations have raised the number of factors from nine to 9,000 as micro, small and medium enterprises (MSMEs) can now approach several non-banking financial companies (NBFCs) to monetise their pending receivables. Referring to the Factoring Regulation (Amendment) Bill that was passed in the monsoon session of Parliament, Sitharaman said the legislation aimed to benefit several MSMEs supplying goods and services to large companies and wait for months to get payments.

Finance minister Nirmala Sitharaman on Saturday said the recently enacted factoring regulations have raised the number of factors from nine to 9,000 as micro, small and medium enterprises (MSMEs) can now approach several non-banking financial companies (NBFCs) to monetise their pending receivables. Referring to the Factoring Regulation (Amendment) Bill that was passed in the monsoon session of Parliament, Sitharaman said the legislation aimed to benefit several MSMEs supplying goods and services to large companies and wait for months to get payments.