In addition to this, the FKCCI demanded that banks and financial institutions not require additional collateral while stimulating other economic sectors such as clothing, hospitality, education, etc.

Through IANS | Posted: July 3, 2021 12:17




Bangalore: Members of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI), headed by its President Perikal M. Sundar, on Friday called on Union Finance Minister Nirmala Sitharaman to submit gasoline and diesel under the goods and services tax (GST) system. reduce the GST on commodities needed for daily needs to contain inflation.

In its memorandum, the FKCCI also urged the finance minister to waive processing fees to sanction new loans, in addition to improving existing loans to the micro, small and medium enterprise (MSME) sector.

In addition to this, the FKCCI demanded that banks and financial institutions not require additional collateral while stimulating other economic sectors such as clothing, hospitality, education, etc.

FKCCI has also requested exemption from a rigorous and lengthy process to comply with private placement provisions while raising capital, allowing the allocation of shares to angel investors at a reduced price as part of a financing. Series A, bringing back the Companies Fresh Startup Scheme and the LLP Settlement Scheme for startups. .

The memorandum also required the merger of Form DPT 3 (Return of Deposits Form) with annual returns to help reduce the compliance burden for small businesses.



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