Loans From India's Banking Sector To Restructure The Textile Industry
Most of India's textile companies are in deep losses, and the banking sector is actively engaged in loan restructuring. However,
A small and medium-sized commercial unit under the State Bank of India has put forward a proposal to establish a committee composed of representatives of 3-4 banks. The committee will hold talks with relevant industry associations to formulate a rescue plan. In the first quarter of the current fiscal year, the textile company lost 110 billion rupees of liquidity, the South India factory Association estimates.
In short, 83% of the 226 listed textile companies had poor business performance, and 127 companies reported losses in the first half of the current fiscal year.
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