Page 6 - Msme Sector

Study paints grim picture for garment sector with likely job cuts, closures

74% of its respondents see a 90% drop in sales for the quarter ending June 2020

Modi meets heads of banks, NBFCs, bats for lending to productive sectors

According to sources, the importance of the financial sector in achieving the objective of 'Atmanirbhar Bharat' or self-reliant India was highlighted during the meeting.

25-30 million lost jobs in MSMEs during March-June, says survey

Another 10-15 million jobs may be lost by the end of August

Flipkart acquires Walmart India's wholesale biz to help transform kiranas

Flipkart says it would leverage the strong wholesale capabilities of the company and enable growth for kiranas and MSMEs

Banks sanction Rs 1.27 trn loans to MSMEs under credit guarantee scheme

However, disbursements against this stood at Rs 77,613 crore till July 20 under the 100 per cent ECLGS for micro, small and medium enterprises (MSMEs)

MSME margins to shrink on Covid-induced loss of demand: CRISIL SME Tracker

Long constrained for liquidity, MSMEs now also have to cope with loss of demand, labour shortage, and heightened risk aversion in the financial system due to the Covid-19 pandemic.

Gadkari urges Amazon to help Indian MSMEs market products globally

Gadkari said the MSME sector accounts for 30% of India's growth and about 48% of the country's exports

CBDT to share depreciation, turnover info of small firms with MSME ministry

The Central Board of Direct Taxes has signed a memorandum of understanding in this regard with the Ministry of Micro, Small and Medium Enterprises

Gadkari to lay foundation stones for Rs 20,000-cr projects in Haryana

The projects for laying foundation stone include 227 km 6-lane access controlled Greenfield expressway from Ismailpur to Narnaul on NH 152D in 8 packages costing Rs 8,650 crore

Many MSMEs are approaching banks for collateral-free loans: Survey

The rating agency said the survey was conducted over 2 weeks - between June 23 July 7 - and saw the participation of 345 respondents from a cross-section of sectors

Pharma SMEs will overcome short-term disruptions: CRISIL SME Tracker

Short-term disruptions include high input costs and various operational challenges.

Banks disburse over Rs 52,255 crore to MSMEs under credit scheme

However, this is against the sanction of Rs 1.10 trillion under the 100 per cent ECLGS for micro, small and medium enterprises (MSMEs) till July 1.

India's electricity output signals recovery in June, shows govt data

June power generation fell 9.9%, a Reuters analysis of daily load despatch data from federal grid operator POSOCO showed, compared with a 14.3% decline in May.

World Bank approves $750 mn emergency response fund for India's MSME sector

This takes the World Bank's total commitment to $2.75 billion to support India's emergency Covid-19 response

Payment of advance does not create lien over supplier's assets: Expert

Your rights arise only from the contract between you and the supplier, say expert

SBI sanctions loans to over 400,000 MSMEs under credit guarantee scheme

On the occasion of International MSME Day, SBI managing director C S Shetty on Friday addressed MSME customers and employees across the nation video conference

Fair solution to rate transmission in the works: FM Nirmala Sitharaman

The finance minister told the industry it needed to introspect on how businesses are run and on Aatmanirbhar Bharat, for India to realise the full potential.

Airtel Payments Bank rolls out 'Suraksha salary account' for MSMEs

Through this innovative account construct, MSMEs and other organisations will be able to make cashless payments and also provide a financial security blanket to their employees," the bank said.

Downgrade of India's sovereign rating by Moody's not surprising: SBI report

India's sovereign rating was downgraded by Moody's to Baa3 with a negative outlook on the pretext of prolonged period of slower growth, rising debt and stress in financial system.

Mixed spread ahead for packaged-foods SMEs: CRISIL SME Tracker

The extended lockdown to stem the spread of the Covid-19 pandemic has disrupted supply chains and hampered factory operations.