Msmes

Msmes News

Kotak Mahindra Bank introduces Merchant One Account for MSMEs; details here
Business

Kotak Mahindra Bank introduces Merchant One Account for MSMEs; details here

Merchants are not going to be levied non-maintenance charges if they don’t maintain the monthly average balance in the account

Centre launches three schemes to boost pharma sector MSMEs
Business

Centre launches three schemes to boost pharma sector MSMEs

Speaking at the launch event here, Union minister Mansukh Mandaviya noted that the schemes envisage technology upgradation, setting up of common research centres and effluent treatment plants in clusters for the pharma MSMEs

MSMEs one-third of India's economy, Budget raised 650% in 8 years, says PM Modi
India

MSMEs one-third of India's economy, Budget raised 650% in 8 years, says PM Modi

PM Modi made the remarks while inaugurating the Rs 6,062.45-crore 'Raising and Accelerating MSME Performance' (RAMP) scheme for MSMEs at the 'Udyami Bharat' programme

Defence Ministry earmarks 25% of domestic capital procurement budget for private industry to promote start-ups
India

Defence Ministry earmarks 25% of domestic capital procurement budget for private industry to promote start-ups

A Defence Ministry release said that it has also been decided that an amount of Rs 1,500 crore will be earmarked for procurement from start-ups from within the allocations for domestic capital procurement

India achieves highest ever goods export target of $400 billion; PM Modi lauds key milestone
India

India achieves highest ever goods export target of $400 billion; PM Modi lauds key milestone

Modi posted a graphics of India achieving the highest ever exports target nine days ahead of the intended deadline.

Impending COVID-19 third wave, shifting regulatory landscape leave small and micro businesses facing uncertainty
Business

Impending COVID-19 third wave, shifting regulatory landscape leave small and micro businesses facing uncertainty

A moratorium during the first wave helped lenders and borrowers at least temporarily ward off financial stress, but this benefit was not available to them in the second wave

How India's Northeast can be a zone of sustainable industrial development
India

How India's Northeast can be a zone of sustainable industrial development

In the last two decades, economic growth in the Northeast has been satisfactory with an annual growth rate in excess of 8 percent.

PM urges banks to support wealth and job creators, work proactively to improve India's balance sheet
India

PM urges banks to support wealth and job creators, work proactively to improve India's balance sheet

The prime minister also said that the recently set up National Asset Reconstruction Co (NARCL) would help resolve Rs 2 lakh crore of stressed assets

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

Nirmala Sitharaman announces economic package for MSMEs, raises credit line limit to Rs 4.5 lakh cr
Business

Nirmala Sitharaman announces economic package for MSMEs, raises credit line limit to Rs 4.5 lakh cr

The finance minister announced widening of the Emergency Credit Line Guarantee Scheme under which collateral-free loans are given to MSMEs. A new scheme will give up to Rs 1.25 lakh loan to 25 lakh small borrowers at lower interest rates

International MSMEs Day 2021: All you need to know about day that marks recognition of small businesses
India

International MSMEs Day 2021: All you need to know about day that marks recognition of small businesses

The UN resolution passed in April 2017 stressed the importance of encouraging formalisation of MSME segment that accounts for over 90% of all firms globally, around 70% of total employment

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

India committed to enhancing defence manufacturing capabilities, says Narendra Modi
India

India committed to enhancing defence manufacturing capabilities, says Narendra Modi

Addressing a webinar on the effective implementation of the Union Budget's provisions in the defence sector, the PM urged the private sector to take up both designing and manufacturing of defence equipment

Rahul Gandhi slams Union Budget as 'crony-centric', says MSMEs were 'betrayed'
Politics

Rahul Gandhi slams Union Budget as 'crony-centric', says MSMEs were 'betrayed'

In his first reaction to the budget on Monday, Gandhi had alleged that the Narendra Modi government plans to handover the country's assets to crony capitalists

India not 'expansionist' country, believes in welfare of world, says Nitin Gadkari
India

India not 'expansionist' country, believes in welfare of world, says Nitin Gadkari

Speaking about self-reliance in education, Gadkari said universities should be upgraded in the country so that people will not need to go abroad for education

Finance ministry report says structural reforms will ensure long-term growth, cites laws on labour, farm produce
Business

Finance ministry report says structural reforms will ensure long-term growth, cites laws on labour, farm produce

The 'enabling policy environment' and initiatives taken by all stakeholders to seize the available opportunities will actualise growth potential, the report said

India's 23.9% GDP contraction 'should alarm us all', writes ex-RBI governor Raghuram Rajan
Business

India's 23.9% GDP contraction 'should alarm us all', writes ex-RBI governor Raghuram Rajan

Given the length of the pandemic, more direct cash transfers to the poorest households, especially in urban areas that do not have access to MNREGA, is warranted.

India to ban Chinese firms from participating in highway projects, even via joint ventures, says Nitin Gadkari
India

India to ban Chinese firms from participating in highway projects, even via joint ventures, says Nitin Gadkari

Gadkari also said the government will ensure that Chinese investors are not entertained in various sectors like MSMEs.

Income Tax Department issues refunds of Rs 26,242 cr since April to 16.84 lakh taxpayers; move to ease liquidity
Business

Income Tax Department issues refunds of Rs 26,242 cr since April to 16.84 lakh taxpayers; move to ease liquidity

The tax department on Friday said it has issued I-T refunds of Rs 26,242 crore to 16.84 lakh taxpayers since April as part of efforts to hasten refund process for making liquidity available with people and firms to deal with COVID-19 crisis

Govt notifies changes in rules disallowing global tender for procurement up to Rs 200 cr; move to benefit MSMEs
Business

Govt notifies changes in rules disallowing global tender for procurement up to Rs 200 cr; move to benefit MSMEs

The government has notified amendments to General Financial Rules (GFR) to ensure that goods and services valued less than Rs 200 crore are being procured from domestic firms, a move which will benefit MSMEs