Chennai, April 27 -- The Coimbatore Compressor Industries Association has urged the Reserve Bank of India (RBI) to provide relief to micro, small and medium enterprises (MSMEs) facing sharp increases in raw material costs.

In a memorandum to the central bank, association president M Raveendran said prices of key inputs such as copper, aluminium and steel have surged between 30 percent and 80 percent over the past six months, putting significant pressure on MSME finances.

Demand for higher credit limits

The association has proposed an interim increase of up to 20 percent in working capital limits for MSMEs, similar to the support extended under the Emergency Credit Line Guarantee Scheme during the pandemic, reported The Hindu.

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