The RBI board will also discuss norms for reserves

But redressal of credit squeeze in the MSME sector tops the finance ministry’s priorities, which is seeking some relaxation in norms for lending and addressing the liquidity crisis in the NBFC sector in wake of the IL&FS mess.But the most urgent attention and steps would be sought from RBI in easing of lending norms for MSMEs, including strict rating criteria to improve credit flow, sources said.If not at this board meeting, sources said, the PCA framework relaxation could be reached in the next few meetings and it could happen without a board meeting and some banks may wriggle out of the framework by the end of this financial year.The government feels MSMEs that employ about 1. RBI is also expected to consider special dispensation turbine flowmeter Manufacturers for MSMEs and NBFCs that have been facing liquidity issues.Last week, finance minister Arun Jaitley said there is a need to minimise NPAs to maintain the banking system’s strength and enable it to help economy grow.

 The finance ministry and the Reserve Bank of India (RBI) are burning midnight oil to defuse worsening tensions that has threatened to unnerve investors, ease the credit pressure on MSMEs and liquidity squeeze in NBFCs and reach a mutually agreeable solution over PCA-scarred banks. But RBI has been averse to the government demand for special dispensations for MSMEs and NBFCs as it considers them vulnerable and doesn’t want to increase the risk of higher NPAs.While RBI governor Urjit Patel’s threat to quit is thought to be off the table for now, the uneasy truce is likely to see the central bank ease up on some lending restrictions to help the government stimulate the economy.The RBI board will also discuss norms for reserves and its sharing with the government under the capital framework besides the relaxation of the prompt corrective action (PCA) framework, sources said.

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