Page 5 - Msme Sector

Tata Power, SIDBI join hands for rooftop solar financing for MSMEs

Tata Power on Tuesday announced its partnership with SIDBI to provide a finance scheme to the MSME players in the rooftop solar segment

Only Rs 300 cr of retail, MSMEs applied for loan recast: YES Bank

Yes Bank on Tuesday said the loan repayments performance by its retail and small business borrowers has been better than expected, and only Rs 300 crore of the Rs 60,000-crore book has applied for the COVID-19-related loan restructuring scheme. The collection efficiencies at about 95-96 per cent right now are back to the pre-COVID-19 levels of 97 per cent, its Global Head for Retail Business Rajesh Pental told PTI. "Only Rs 300 crore of the overall Rs 60,000 crore of the advances book have opted for loan recast till now," Pental said. He stressed that the portfolio quality is immaculate and stable where its customer selection over the past two years has paid off. Borrowers have time till the end of December to opt for the scheme. He said 54 per cent of borrowers by numbers had opted for moratorium which lasted till August, and an additional 5-8 per cent could not pay as well. However, 85 per cent of the overall moratorium customers had paid at least one loan instalment during the

High gold prices, weak demand hit gems, jewellery units: CRISIL SME Tracker

The sector is expected to contract by 35-40 per cent in value terms in FY21, as both domestic and export demand get impacted by the Covid-19 pandemic

Icra scales up projection for GDP contraction to 11% from 9.5% earlier

Attributes move to continued spread of Covid-19 pandemic

Best of BS Opinion: Mismanaging GST, rescuing the economy, and more

Here's a selection of Business Standard opinion pieces for the day

Rescuing the economy

Ensure price support for agriculture, subsidise wage costs of MSMEs and accelerate public construction activities

UP govt targets Rs 15,000 cr loans for MSMEs to ease working capital woes

UP aiming to double MSME exports to Rs 2.40 trillion in 3 years

NBFCs need access to credit history like banks, says Gunit Chadha

NBFCs don't have an equivalent body to represent their well-filtered voice with the regulators and government, says APAC Financial Services founder

Guaranteed loans have multiplier effect

Government guarantee will help and restart businesses which will kickstart the virtuous circle of employment, consumption, and growth

Fintech "Chanakya" Shibabrata Bhaumik smashes revenue estimates amid pandemic with "e-Loan"

.

Govt aims to create 50 mn jobs in 5 years in MSME sector, says Gadkari

The minister also called for broadbasing support for innovations and entrepreneurship so that bonafide new talent also gets a chance to grow

Far from fun and games, India's toy story looks to govt to script a change

Toy manufacturers are worried the BIS requirement will adversely impact MSMEs engaged in the business and that only MNCs will survive

Exports offer hope for specialty chemicals units: CRISIL SME Tracker

Small and medium enterprises (SMEs), which make up as much as 30-35 per cent of the industry, have been hit particularly hard

Indian PSBs face fresh capital shortages as coronavirus bites: Moody's

Uncertainty surrounding India's economic recovery and the ongoing clean-up of balance sheets are making it difficult for banks to raise equity capital from markets, it says

Rs 1.5 trillion sanctioned by banks under MSME lending scheme so far

As much as Rs 3 trillion was promised to be lent under the scheme, fully guaranteed by the government

Rs 1.51 tn disbursed to MSME sector under emergency credit plan, says govt

There has been a big jump in the sanctions in the last 15 days, says finance ministry.

Courier SMEs' cup of woe spills over, shows CRISIL SME Tracker

CRISIL Research expects their revenue to decline 30-35 per cent in FY 2021

Gadkari approves scheme to make India self-reliant in agarbatti production

The programme aims at handholding artisans and supporting the local agarbatti industry

June retail credit grows Rs 11,518 crore after shrinking for 2 months

Outstanding loans to SME remained flat at Rs 3.52 trillion in June, compared to May

Hosiery exporters seek extension of loan moratorium by 6 months up to March

Exporters said the financial position of the knitwear garment units in Tirupur has not improved and they were not in a position to repay the loan and interest