Page 7 - Msme Sector
We'd like to be seen as a full service new-age private bank: CSB Bank chief
In a Q&A, C V R Rajendran, MD & CEO, CSB Bank Ltd, dwells on how the lender turned around in FY20, after several years of losses
 "We'd like to be seen as a full service new-age private bank: CSB Bank chief")
India's Covid-19 pandemic fiscal cost lowest among major nations: Report
Business Standard's own calculations suggest that the Centre's fiscal impact amounts to around Rs 2.28 trillion, or around 1.2 per cent of GDP.
 "India's Covid-19 pandemic fiscal cost lowest among major nations: Report")
Banking system is in a Catch-22 situation: Indian Bank's Padmaja Chunduru
Indian Bank has 450,000 MSME customers who are eligible for loans guaranteed by the government.
 "Banking system is in a Catch-22 situation: Indian Bank's Padmaja Chunduru")
Widen MSME scheme ambit: Private lenders to FM Nirmala Sitharaman
Govt likely to issue clarification to add more borrowers under ECLGS
 "Widen MSME scheme ambit: Private lenders to FM Nirmala Sitharaman")
PSB loan disbursal picks up pace, rises to over Rs 29k cr: Finance Ministry
According to finance ministry data, loans have been disbursed to 3,75,087 accounts under ECLGS
 "PSB loan disbursal picks up pace, rises to over Rs 29k cr: Finance Ministry")
Will consider corporation tax rate benefit extension: FM Sitharaman
Says GST rate reduction to go to Council; Council is likely to meet on Friday through video conferencing.
 "Will consider corporation tax rate benefit extension: FM Sitharaman")
Private banks not implementing Rs 3 trn loan MSME scheme: RSS body to FM
Sitharaman had called Laghu Udyog Bharti general secretary Govind Lele to seek feedback on the implementation of Rs 3-trillion Emergency Credit Line Guarantee Scheme
Policies should be set keeping in mind everyone is in trouble, says Gadkari
By removing the export turnover, these units will export more and the country will benefit. This will also boost employment, Nitin Gadkari said
 "Policies should be set keeping in mind everyone is in trouble, says Gadkari")
Vocal for local initiative is not xenophobic, says BJP's Sanju Verma
Big bang reforms have been the norm under Modi government, writes Sanju Verma
 "Vocal for local initiative is not xenophobic, says BJP's Sanju Verma")
Blueprint for a more healthy economy
What we need is a map - an economic blueprint - that will address the need for domestic growth and put in place measures that will make India attractive for foreign investment.
 "Blueprint for a more healthy economy")
70% of MSMEs intend to reduce headcount to save businesses: AIMO survey
The survey's result, the second part of the survey series conducted by AIMO amongst the corporates, MSMEs, self employed persons and others, was based on the responses from 46,525 participants.
 "70% of MSMEs intend to reduce headcount to save businesses: AIMO survey")
New MSME definition to benefit downstream textiles, boost exports: experts
Several exporters can now be classified as MSMEs and avail 5% rebate under interest equalisation scheme
 "New MSME definition to benefit downstream textiles, boost exports: experts")
Urgent need to standardise rates in hospitals: ICICI Lombard MD & CEO
The reason we need standardisation is because it will smoothen the process for customers as there won't be any dispute with hospitals, says Bhargav Dasgupta, ICICI Lombard MD & CEO
 "Urgent need to standardise rates in hospitals: ICICI Lombard MD & CEO")
MSMEs are shutting down, it's criminal to not give cash support, says Rahul
"11 crore Indians are employed by MSMEs. 1/3rd of them are closing down permanently. It's criminal for GOI not to give them cash support immediately," he said on Twitter.
 "MSMEs are shutting down, it's criminal to not give cash support, says Rahul")
A silent Surat: No orders, dormant looms and no diamond polishing
The final part of the series looks at how industries are waiting for demand to bounce back
 "A silent Surat: No orders, dormant looms and no diamond polishing")
Lockdown 4.0: Not looking for dole, need better policies, say Meerut MSMEs
The fourth of a five-part series looks at the situation in the industrial heartland of Western UP where firms prefer GST refunds, supportive policies over handouts
 "Lockdown 4.0: Not looking for dole, need better policies, say Meerut MSMEs")
Rs 3-trn relief package for MSMEs to offer pre-approved loans, details out
The loan will be extended in the form of additional working capital term loan facility in case of banks and additional termloan facility in case of NBFCs to eligible MSMEs/ business enterprises
 "Rs 3-trn relief package for MSMEs to offer pre-approved loans, details out")
High risk aversion of most lenders is astounding, says Bajaj Finserv CMD
Instead of extending the moratorium by another three months, it would have been better to allow lenders to offer a one-time restructuring only to those who need it, says Sanjiv Bajaj
 "High risk aversion of most lenders is astounding, says Bajaj Finserv CMD")
Labour pains: Thane's MSMEs operating at 10-15% capacity amid lockdown
The third of a five-part series looks at how lack of manpower and cash flow issues have put small units in dire straits despite govt announcing a Rs 3-trn package
 "Labour pains: Thane's MSMEs operating at 10-15% capacity amid lockdown")
Supply chain blocks, lack of labour push MSMEs in Chennai to the brink
The second of a five-part series focuses on how the lockdown has compounded the woes of already-struggling firms
 "Supply chain blocks, lack of labour push MSMEs in Chennai to the brink")
