Msme Sector

Msme Sector News

PM Modi exhorts exporters to achieve long-term export targets
Business

PM Modi exhorts exporters to achieve long-term export targets

Inaugurating the new Vanijya Bhawan, Prime Minister Modi said the government has removed over 32,000 unnecessary compliances

Banks sanctioned loans worth Rs 3.1 lakh cr to small, medium firms under ECLGS, says Sitharaman
Business

Banks sanctioned loans worth Rs 3.1 lakh cr to small, medium firms under ECLGS, says Sitharaman

The Emergency Credit Line Guarantee Scheme (ECLGS) aims to provide additional funding facilities to the MSME sector which has been hit hard by COVID-19

Budget 2022: Success of critical government initiatives for industry tied to consumer market
Business

Budget 2022: Success of critical government initiatives for industry tied to consumer market

Union Budget 2022-23: The government must consider giving booster shots to the consumer market sector

Centre revises MSMEs guidelines, to include retail and wholesale trade under sector; key points
Business

Centre revises MSMEs guidelines, to include retail and wholesale trade under sector; key points

Minister of Micro, Small and Medium Enterprise and Road Transport and Highways Nitin Gadkari said that the revised guidelines will benefit 2.5 crore retail and wholesale traders

Women run fewer than 13% of India's MSMEs; inaccessibility of credit, govt schemes and now COVID are key hurdles
India

Women run fewer than 13% of India's MSMEs; inaccessibility of credit, govt schemes and now COVID are key hurdles

The biggest challenge faced by women entrepreneurs in India is gender bias in access to finance as studies show that their loan applications are more likely to be delayed or rejected as compared to men

Nirmala Sitharaman to meet PSB chiefs tomorrow to discuss loan disbursement; to review interest rate transmission to borrowers
Business

Nirmala Sitharaman to meet PSB chiefs tomorrow to discuss loan disbursement; to review interest rate transmission to borrowers

The deployment of excessive funds by banks under the reverse repo route may also come up for discussion on Friday, sources said.

Govt's stimulus package 'heavy hitter' to propel MSME sector; delivery of credit will be key, say tech firms
Business

Govt's stimulus package 'heavy hitter' to propel MSME sector; delivery of credit will be key, say tech firms

Finance Minister Nirmala Sitharaman announced the creation of a fund of funds for MSMEs, which will infuse Rs 50,000 crore equity in units that have growth potential.

UP, MP ease labour laws: India needs to ride this wave focussing on employee health, safety and correct 'miserable' record in this matter
Business

UP, MP ease labour laws: India needs to ride this wave focussing on employee health, safety and correct 'miserable' record in this matter

Labour regulations such as 8 hours work days were brought in after years of protests against exploitation.

Finance Minister Nirmala Sitharaman postpones meet with PSB chiefs to later this week
Business

Finance Minister Nirmala Sitharaman postpones meet with PSB chiefs to later this week

Public sector banks have sanctioned loans worth Rs 42,000 crore to the MSME sector and corporates since the start of the lockdown.

Odisha govt talks to Japanese, Korean and US firms to attract more investments; to come out with model policy for industries
Business

Odisha govt talks to Japanese, Korean and US firms to attract more investments; to come out with model policy for industries

The Odisha government has also decided to formulate a model policy to resolve the problems faced by the industries, he said, adding that it has been decided to start discussions regarding the problems faced by the industries due to the pandemic.

Coronavirus Outbreak: RBI governor Shaktikanta Das meets NBFCs, MFs sector; reviews liquidity situation
Business

Coronavirus Outbreak: RBI governor Shaktikanta Das meets NBFCs, MFs sector; reviews liquidity situation

Operations of NBFCs have commenced from Monday as the government eased restrictions for the lockdown.

Govt offers relief to MSME sector, stakeholders say take care of salary payments, provide 6 months interest waiver on loans
Business

Govt offers relief to MSME sector, stakeholders say take care of salary payments, provide 6 months interest waiver on loans

The government is considering providing payroll support and overheads for the MSME sector for 110 mn workers and staff which could cost up to around Rs 1-1.5 lakh crore.

Apparel exporters seek Narendra Modi's intervention for stimulus package; say overseas buyers cancelling orders
Business

Apparel exporters seek Narendra Modi's intervention for stimulus package; say overseas buyers cancelling orders

He said that about 70 percent of the apparel units are in the MSME sector and it is imperative to note that the member-exporters strictly comply with national and international norms.

Cholamandalam Investment raises Rs 400 cr from UK-based CDC Group through masala bonds
Business

Cholamandalam Investment raises Rs 400 cr from UK-based CDC Group through masala bonds

In the half year ended September 2019, Cholamandalam Investment's assets under management (AUM) grew 23 percent to Rs 64,409 crore compared to Rs 52,486 crore in the year-ago period.

World Bank Group arm IFC to invest $75 mn in Mahindra Financial Services MSME fund
Business

World Bank Group arm IFC to invest $75 mn in Mahindra Financial Services MSME fund

The IFC has invested $75 million from its own account and is mobilising another $125 million as parallel loans, a statement said

Fundamentals of economy 'very very strong' says CEA Subramanian; urges industry to start making investments
Business

Fundamentals of economy 'very very strong' says CEA Subramanian; urges industry to start making investments

Chief Economic Advisor KV Subramanian on Wednesday called upon the industry to start making investments, stressing that the fundamentals of the economy are "very very strong"

Public sector banks disburse over Rs 81,700 cr during nine-day loan mela: Finance Ministry
Business

Public sector banks disburse over Rs 81,700 cr during nine-day loan mela: Finance Ministry

The Finance Ministry on Monday said loans worth Rs 81,781 crore were disbursed during the nine-day outreach programme or loan mela organised by banks that began on 1 October

Instamojo partners with Y-combinator backed startup ClearTax to offer course on taxation for MSMEs
Business

Instamojo partners with Y-combinator backed startup ClearTax to offer course on taxation for MSMEs

Several taxation reforms specific to the MSME sector has led to challenges in integrating these formative processes into business operations

Retail sector cannot grow with protectionism, says BS Nagesh; asks offline retailers to use Internet to widen reach
Business

Retail sector cannot grow with protectionism, says BS Nagesh; asks offline retailers to use Internet to widen reach

There is access to 120 million consumers and reach across the country, which offline retailers must use, BS Nagesh said