Page 11 - Msmes

GAME partners with SIDBI to help MSMEs revive biz amid pandemic

The Global Alliance for Mass Entrepreneurship (GAME) and SIDBI have signed a pact to help micro, small and medium enterprises (MSMEs) address their challenges that were accentuated during the pandemic

Nearly 73% SMBs unable to report profit due to lockdown: study

As many as 63 million micro, small enterprises and 40 million self-employed individuals were present in the country, the report said.

More firms to come under ambit of small and medium sized companies

In a notification, the ministry defined a small and medium sized company as an entity whose equity or debt securities are not listed or are not in the process of listing on any stock exchange

MSME body seeks intervention of PM on rising raw material prices

This is in connection to rising prices of raw materials such as steel, iron ore, aluminum, copper, plastics and paper.

Covid-19 crisis: Relief for MSME promoters under debt scheme likely

The government had, in May last year, announced a slew of measures to help MSMEs tide through the Covid-19 crisis.

NDA's Bermuda Triangle

The government has to generate a huge amount of employment without giving an upward push to inflation, while keeping subsistence spending intact

Khadi sales decline 16% to Rs 3,527.71 cr in 2020-21: MSME Ministry

The production activities remained suspended for more than three months during the nationwide lockdown announced on March 25 last year.

We didn't expect flood of insolvency cases, says IBBI chairman M S Sahoo

He also said that not many applications had been filed under the prepackaged scheme brought in for micro, small and medium enterprises (MSMEs)

Cabinet meet to include works contract under Govt e-Marketplace soon

Sahay initiative will enable small businesses on the portal get loans instantly against orders

Instamojo aims to enable e-commerce for 100,000 D2C brands by year-end

Instamojo raised its series B funding from Gunosy Capital, AnyPay-a Japanese payments firm and the existing VCs earlier this year

Small industries seek moratorium for another year amid Covid crisis

The industries have been under complete lockdown

Edelweiss boosts co-lending partnership with Central Bank of India for MSME

Edelweiss Retail Finance Ltd announced strengthening of its co-lending partnership with Central Bank of India for priority sector lending to micro, small and medium enterprises

Credit to MSMEs, agriculture rises; personal loans register 12.6% growth

Credit growth to agriculture and allied activities accelerated 11.3%, compared with 4.7% the previous year

Covid-19: Banks begin process of restructuring of loans up to Rs 25 cr

To provide support to small businesses hit by the second coronavirus wave, banks have initiated the process of restructuring of loans up to Rs 25 crore in line with the COVID-19 relief measures announced by the Reserve Bank earlier this month. Many lending institutions have got board approval for the resolution framework and eligible borrowers are being contacted. For example, the Bank of India has sent messages to its eligible customers to submit their willingness to debt recast online. "In these trying times, we offer you a helping hand by extending relief as per RBI Resolution Framework 2.0 dated May 5th, 2021. If you are under financial stress caused by the COVID Second Wave, you may opt for restructuring of your account," the message said. Meanwhile, another public sector lender Punjab & Sind Bank said its debt recast plan as specified by the RBI has been approved by the board. "We will be reaching out to our customers including through BCs...we will get a fair idea about ..

Covid-19 impact: Many startups, MSMEs stare at closure, says survey

Startups and MSMEs have been in the race for survival, especially since the onset of the Covid-19 outbreak in 2020

Tamil Nadu MSMEs appeal to govt for support to overcome Covid led crisis

The association of Micro, Small and Medium Enterprises (MSME) units across Tamil Nadu have written to the state and central governments for assistance and support to overcome the crisis

MSME needs 'concentrated, right kind' of relief package: Assocham

Industry body Assocham has demanded from the government a 'concentrated and right kind' of relief package for MSME sector, which was most affected by covid-19 pandemic

Centre considers a revamp of stressed asset guarantee scheme for MSMEs

As of May 14, guarantees of only Rs 68.39 crore had been issued, benefiting 632 businesses, a senior government official told Business Standard

Govt ready for another cut in import duty on steel to tame prices

The government has proposed to slash import duties on steel items further bringing it to zero or near-zero levels to provide relief to MSMEs

Relief to only postpone financial stress from India's Covid surge: Fitch

There are growing indications that India's latest wave of Covid-19 infections will add to risks among financial institutions by sapping near-term momentum from the economic recovery