Bank of Russia executives meet representatives of business associations
Following the meeting, the Bank of Russia will consider additional measures to simplify the regulation of lending to small and medium-sized enterprises (SMEs). The parameters of the mechanism for providing financing to banks under the programme for encouraging loans can also be updated. This should help reduce costs for banks when working with small businesses and improve the accessibility of loans to them.
The regulator will also take into account some other proposals of business associations in its roadmap for the development of SME financing for the next two years.
The Bank of Russia executives and representatives of the business community also discussed the development of cross-border payments with friendly countries and the reduction of transactional costs for businesses by accepting payments via the Faster Payments System (FPS). By this November, 479,000 trade and service enterprises connected to the FPS. The government programme to compensate for fees paid by businesses to banks for accepting payments via the FPS turned out to be an important contributor. The Bank of Russia will discuss with the Russian Government the possibility of extending this programme for 2023. The system will become more popular as one touch payments using NFC technology gain ground.
The first results of the Know Your Customer platform launched in July 2022 were summed up. The number of refusals to businesses to conduct operations under Federal Law No.
The meeting was attended by representatives of OPORA RUSSIA and Business Russia organisations, the Chamber of Commerce and Industry of the Russian Federation, the Ministry of Economic Development of the Russian Federation, RSMB Corporation, Moscow Exchange and banks.