New Delhi, Oct. 14 -- Industry bodies representing micro, small, and medium enterprises (MSMEs) have appealed to the Reserve Bank of India (RBI) to consider extending the Emergency Credit Line Guarantee Scheme (ECLGS) and introducing a more transparent and standardised lending framework to strengthen the resilience of small businesses.

The proposal was discussed at a meeting convened last week by the RBI's Financial Inclusion and Development Department, which aimed to address challenges faced by MSMEs due to the impact of 50 percent US tariffs on certain exports, according to Business Standard.

The meeting was chaired by RBI Executive Director Neeraj Nigam and included representatives from key industry associations, such as the India SM...