MSMEs

Pincode will connect consumers to small merchants and neighbourhood stores, says fintech firm

In which we munch over the week's platter of news and views

PMMY aims to facilitate easy collateral-free credit of up to Rs 10 lakh to micro-entrepreneurs for income-generating activities

Over 137,000 complaints made, govt portal shows state govt dues are among the highest

Minister of State for Finance Bhagwat Karad, who addressed the inception meeting of the TIWG in Mumbai spoke about the widening gap between developing and developed countries

"Multiple people have shown interest (in Shriram Housing Finance), including the who's who of the private equity world"

Amid a green push by governments across the globe, small industries rue lack of resources and help in energy transition

Company says it's only e-commerce platform to fintegrate its buyer and seller platforms on platform

As many as 97 per cent licences have been granted to micro, small, and medium enterprises (MSMEs) among toy manufacturing units by the government

Foreign Exchange Dealers' Association should take lead in safeguarding customers against fraud platforms: Deputy Governor

Women doing better in digital awareness among reasons for government to expand technology in policies

NBFC player Clix Capital Services looks to double its profit to Rs 100 crore in the next 2023-24 fiscal by focusing on lending to MSMEs and other segments. The post-pandemic period saw massive pent-up demand amongst sectors severely impacted due to Covid-19 and the subsequent lockdowns, such as travel and tourism, education, healthcare and automobiles, the company said in a release. "Clix Capital diligently utilised the Covid-induced disruption as an opportunity to reassess its business strategy as well as digitalise its core-operating model at scale," it said. Clix Capital is poised to cross an AUM (Assets under Management) of Rs 5,000 crore by the end of this fiscal and aims to surpass Rs 9,000 crore by 2024-25, it said. By servicing consumers and MSMEs, Clix has disbursed more than Rs 18,000 crore to date. Most of the company's disbursements have gone to underserved MSMEs. "...the company has carved its niche in focused business segments in line with India's growth trajectory i

The Finance Ministry on Monday asked all departments and public sector entities to refund 95 per cent of the performance or bid security and liquidated damages forfeited/deducted from small and medium businesses in government tenders for over two years till March 31, 2022. To give relief to MSMEs, Finance Minister Nirmala Sitharaman in 2023-24 Budget announced 'Vivad se Vishwas-I' scheme which provides that in cases of failure by MSMEs to execute contracts during the Covid period, 95 per cent of the forfeited amount relating to bid or performance security will be returned to them by government and government undertakings. The Finance Ministry's Expenditure Department on Monday issued an office memorandum stating that all contractors or suppliers registered as micro, small and medium enterprises (MSME) with the Ministry of MSME as on March 31, 2022, would be eligible to claim a refund of the forfeited amount for contracts which had an original delivery or completion period between ...

In her budget speech, FM had proposed refund of 95% of amount forfeited on account of non-performance of contract due to Covid

Finance Minister will travel to more cities, explain what the budget contains for various stakeholders

Union Finance Minister Nirmala Sitaraman on Thursday urged industries to facilitate payments to MSMEs within the contract period

Presently, no TDS is required on interest payable in the case of listed dematerialised securities

The announcements for tweaking customs duties in certain sectors and measures to support MSMEs will help in boosting domestic manufacturing and the country's outbound shipments, exporters said on Thursday. Increase in capital investment outlay by 33 per cent to Rs 10 lakh crore, 50 years interest free loan to states to incentivise infrastructure investment, highest-ever capital outlay for railways, several infrastructure projects in port, coal, steel will have a multiplier effect on economy and employment, they said. Federation of Indian Export Organisations (FIEO) President A Sakthivel said that many of the changes in the customs duties will help to provide competitiveness to manufacturing and exports, besides attempting imports substitution. The reduction in duty on denatured ethyl alcohol and crude glycerine will help the downstream users in the chemical sector, the cut in duty on key inputs for producing shrimp feed will help the marine exports as will be the drop in duty on see

Various schemes, including a revamped credit guarantee scheme, announced in the Budget to support MSMEs and exporters will help promote the country's exports, AEPC said on Thursday. Finance Minister Nirmala Sitharaman in her Budget speech said a revamped credit guarantee scheme for MSMEs with an outlay of Rs 9,000 crore will be launched from April 1. Apparel Export Promotion Council (AEPC) Chairman Naren Goenka said that the focus on infrastructure, investment, green growth, youth power and inclusive development will boost India's journey to be the fastest-growing robust economy. The announcement to cover more sectors under the PLI scheme and support to the MSME sector will help thrust exports and investment in the country. Rs 9,000-crore corpus for a revamped credit guarantee scheme will surely alleviate the stress of small and medium enterprises in India, he said. As desired by exporters, the increased allocation for the interest equalization (subsidy) scheme from Rs 2,376 crore

The government's focus on ease of doing business and the expanded corpus for the credit guarantee scheme will mean MSMEs have a lot to gain from this Budget