News that impact the MSME
Digital lending platform focusing on micro-credit for the MSME sector Happy Loans its partnership with rural digitisation and commerce optimisation platform, Storeking.Aimed at providing Happy Loans’ innovative and data-driven credit products to Storeking’s substantial merchant network, the partnership has achieved the stunning milestone of disbursing Rs. 4 crores of credit in just three months.The synergy […]
In a working group meeting chaired by commerce & industry minister Suresh Prabhu, on making India a USD 5 trillion economy in 7 years, top industry representatives emphasised on recognising the importance of small and medium enterprises sector.The participants underlined the need to factor in technological disruptions, challenges due to climate change, positive use of […]
Micro, Small and Medium Enterprises (MSME) sector is the most vibrant and dynamic sector promising high growth potential for the Indian economy. There are close to 51 million MSME units in the country that employ about 117 million people across various sectors, constituting 40% of the workforce. The MSME share to the total Gross Domestic […]
The silver lining in the credit story is the 32% growth in loans to small businesses in the sub-Rs 10-lakh segment in 2017. The sector is getting more credit after a new law post-demonetisation barred cash transactions and introduction of GST forced businesses to formally report all sales.the Small Industries Development Bank of India (SIDBI) […]
The Goods and Services Tax (GST) was introduced with effect from July 1, 2017. GST replaces different taxes and also aims at simplifying indirect taxation. The GST Council has been working continuously for making many improvements for better implementation. While the efforts of the GST Council are laudable, there is one important and vexatious problem […]
Kerala-based ESAF Small Finance Bank plans to open 100 branches by March as part of expanding presence across the country, a top official said. At the end of this financial year, the bank’s total business would touch Rs 9,000 crore. The ESAF Small Finance Bank is one among the 10 Non-banking finance companies to receive […]
The government will soon announce measures to effectively tackle the non-performing assets and stressed accounts of micro, small and medium enterprises, a move which will considerably ease the cash flow challenges faced by them, Finance Minister Arun Jaitley had said last week. read more
The 2018-19 Budget has given a big thrust to Micro, Small and Medium Enterprises (MSMEs) sector to boost employment and economic growth. 1. The budgetary allocation has gone up from Rs 6481.96 crore in 2017-18 to Rs.6552.61 crore in 2018-19. The allocation for individual Schemes (apart from CGTMSE) has gone up by 59%, from Rs.3680 […]
7th edition of the Global Economic Summit 2018 on ‘Global Value Chains: Accelerating SME Growth and Development’ scheduled from February 22-24, 2018 at World Trade Centre Mumbai. Contact Address- World Trade Centre Sadhu Vaswani Marg, Cuffe Parade, Mumbai, Maharashtra 400005 By email at mktg1@wtcmumbai.org or by Phone at +91 22 66387378 / 379 / 398
Small Industries Development Bank of India (SIDBI) has launched the ‘Udyami Mitra’ Portal to improve accessibility of credit and handholding services to Micro, Small and Medium Enterprises (MSMEs). Scheduled Commercial Banks (SCBs) have been advised to ensure a target of 7.5% of Adjusted Net Bank Credit (ANBC) for Micro Enterprises, that collateral security is not required for loans upto […]
