Recession forces over 1.3 lakh MSMEs to seek debt revamp: "Under the global credit squeeze, over 1.30 lakh Indian entrepreneurs, mainly in the small and medium sectors, have sought relief from government-owned banks, which have completed corporate debt restructuring worth Rs 14,000 crore till February.
About one lakh micro, small and medium enterprises (MSMEs) have approached the Union Bank of India for immediate corporate debt restructuring, while the State Bank of India has cleared 26,000 proposals for rescheduling loans, according to information given to the government."
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