FIDC seeks extension of MSME restructuring scheme till March 2022


New Delhi, April 18 | The Finance Industry Development Council (FIDC) has urged the Reserve Bank of India (RBI) to extend the one-time restructuring scheme for loans to MSMEs till March next year due to the severe second wave of Covid-19.

The RBI had, on February 11, 2020, allowed one-time restructuring of existing MSME advances, classified as “standard”, without downgrade in the asset classification subject to certain additional provisioning and compliance with the conditions as prescribed in the said notification. The time limit for implementation of the said restructuring was till December 31, 2020.

In a letter to RBI Governor Shaktikanta Das, FIDC Director General Mahesh Thakkar said that owing to the severe second wave of Covid-19, the MSMEs, as also the retail and wholesale trader industry, have not been able to revive their economic activities and therefore, are in urgent need of support from the lenders.

He noted that various surveys and reports are forewarning that the operating environment for banks will most likely remain challenging, as the second wave could dent the sluggish recovery in consumer and corporate confidence, and further, suppress banks’ prospects for new business.

“Considering the challenging environment for MSMEs and lenders, it will be helpful, if the RBI extends the said notification till at least March 31, 2022,” the letter said.

The NBFC body also requested that the benefit of PSL (priority sector lending) classification for lending by banks to NBFCs for on-lending be regularised as part of the overall PSL policy.

The RBI on April 7, 2021, extended PSL classification for lending by banks to NBFCs for on-lending by six months, till September 30, 2021, which is a welcome step, it noted.

The FIDC further said that NBFCs are important drivers of credit to MSME sector and therefore, improve the outreach of formal banking to the MSMEs, thereby significantly contributing to the goal of financial inclusion and aiding MSMEs to recommence their economic activities.

The RBI has been continuing to extend, on ad-hoc basis, the time-period for on-lending benefit by six months at the time of each review.

“We request that benefit of PSL classification for lending by Banks to NBFCs for on-lending may please be regularised as part of the overall PSL policy. This will enable the banks and NBFCs to cater to the needs to MSME sector in a more organised manner,” it said.

Further, under the on-lending model, only fresh loans granted by NBFCs are allowed PSL benefit. The existing unencumbered pools of eligible PSLs do not qualify for such classification benefit.

“We hereby request the RBI to allow refinance, apart from by way of buy-out but also qualifying for hypothecation for DP for bank finance against existing unencumbered MSME pool originated by NBFCs,” the letter said.

A copy of the letter has also been sent to Union Micro, Small & Medium Enterprises Minister Nitin Gadkari.

Source: IANS

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How to Apply Coconut Hair Oil : 5 Ways to Getting Nourished, Shiny Strands

How to Apply Coconut Hair Oil : 5 Ways to Getting Nourished, Shiny Strands

There are very few hair care ingredients that are as amazing and trusted as coconut oil. For centuries, coconut oil has been used as a hero ingredient and grandmothers of Indian households swear by it. The buttery, thick oil has managed to make quite an impression among the international fashionistas worried about the health of their hair as well.

Coconut oil brings to you an impressive resume of natural beauty advantages for both the scalp and hair.

If you haven’t yet discovered the wonderful benefits of coating your strands in coconut oil, you are probably wondering why this oil is considered a hair care mainstay. Keep reading to know how exactly coconut oil can nourish your hair and the best ways to apply it for brilliant results.

What is coconut hair oil good for?

How to Apply Coconut Hair Oil
How to Apply Coconut Hair Oil

Here, take a look at some of the reasons that make coconut oil reign supreme in the department of hair care.

  • The oil is super moisturizing for your hair strands. The low molecular weight of coconut oil allows it to easily penetrate the shaft of your hair and get absorbed quickly, much better than other oils.
  • The oil has a high moisture content naturally, and therefore, it is effective in conditioning and moisturizing the strands. The oil doesn’t just sit on top of it.
  • The oil will also help your hair to retain protein because it contains a specific type of fatty acid, known as lauric acid. Nick Stenson, a celebrity hairstylist and Matrix’s artistic director, says that strands hold to proteins better when they are coated in coconut hair oil.

If you need more reasons – coconut hair oil is affordable and found ubiquitously, and does not contain any chemicals.

How to apply coconut hair oil for maximum benefits?

The application of coconut oil to hair entirely depends on how you wish to use it. For instance, a deep conditioning hair mask needs a different application than a split end treatment or detangler.

You’ll find below 5 ways to apply coconut oil.

  1. As a treatment of the scalp

Are you interested in a tension-relieving, relaxing scalp massage? Sounds interesting, right? You can relieve your tensed scalp after a tough day of work by wetting the pads of your fingers with coconut oil. Apply the oil gently onto your scalp and massage it gently for a few minutes. This will help the coconut oil to moisturize your scalp and promote healthy hair growth. A relaxing scalp massage using coconut oil is going to make your hair follicles happy and this will result in speedier and also healthier hair growth.

The reason why scalp massages promote hair growth is because they encourage blood circulation. This helps in delivering your hair follicles all the essential nutrients and also oxygen.

  1. As a hair mask

Coconut oil for hair is known to work wonders when it comes to deep conditioning hair treatments. You can create a DIY at-home hair mask by melting a few tablespoons of the oil over low heat and then transferring the oil to a bowl. Section your hair to properly massage warm coconut oil into the roots of your hair and saturating your strands throughout the tips. After that, use a wide-toothed comb to run through your entire hair so that your hair detangles gently. Then, cover your hair with a warm towel or shower cap, and relax for ten to thirty minutes. You can use your regular or mild shampoo to wash out the oil. Make sure to rinse properly.

Remember not to sleep while you are relaxing. You need to wash out the oil to prevent any build-up.

  1. To define your curls more prominently

Coconut oil is a worthy styler and it can help you look your best. Even if you don’t have the right outfit for the day, your hair is surely going to make heads turn!

A lot of people are partial to wash-and-go or an air-dry. If you are one of them, you can slide the oil through the strands of your hair after taking a shower. The oil will help to define the pattern of your curl while also reducing frizz and moisturizing your hair.

If you want your curls to keep their spring, you can make use of coconut oil in between washes. Your curls will be replenished and have a beautiful shine.

  1. To prevent your hair from tangling or to detangle 

A physical barrier is required for all hair types before detangling the strands, especially for those who have more breakage-prone, drier hair. Coconut oil is a brilliant detangling hair care product that you can use to prevent your hair from breaking. You can apply warm oil or you can use a spray bottle to spritz oil on your hair before detangling.

  1. To treat split ends 

Honestly, you cannot mend split ends forever. There just isn’t a way. You can snip them from time to time, but you cannot say goodbye to them forever. Another way to manage your split end problem is by applying coconut hair oil products. The oil will help to seal the cuticle and make your hair look shinier, healthier, and also less brittle. You might even notice density to your strands, especially if you have been noticing that your hair is tapered toward the bottom and looking thin.

The takeaway

Do you think that your hair can benefit from the use of fatty-rich coconut hair oil? You can give it a try in any one of the 5 ways above. And if anybody was wondering, the oil can also be used straight up on your strands.

However, if you are allergic to coconut in general, you might want to stay away from using this oil. In such cases, applying the oil may result in causing irritation.


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