Page 18 - Msmes

Firecracker industry suffers as Covid lockdown restricts movement, orders

Sivakasi accounts for nearly 90 per cent of the country's firecracker production. Around 1,070 firecracker units, mostly medium and small scale, are located in the district

Doubling priority lending for renewables to help only small installations

Industry players say cap is inadequate to meet funding requirements of planned mega projects

Banks may restructure loans worth more than Rs 10 trn to 5-6 key sectors

Finance Minister Nirmala Sitharaman last week asked banks and NBFCs to roll out one-time loan restructuring scheme for Covid-19 related stress by September 15

FM tells banks to frame loan recast scheme for all viable units by Sept 15

Lenders told to put in place FAQs on recast on their websites in multiple languages

98% of exporters, especially MSMEs will benefit under MEIS: Piyush Goyal

Ninety-eight per cent of exporters, especially MSMEs will benefit under MEIS with reward cap of Rs. 2 crore/ Importer Exporter Code from September 1 to December 2020

Indian Bank cuts 1-year MCLR by 5 bps to 7.3%; effective from September 3

Most of the consumer loans such as personal, auto and home were priced on the basis of the one-year MCLR prior to the introduction of repo-linked lending rate

Retail credit up by Rs 40,853 cr in July over June, MSME loans up slightly

RBI said on YoY basis, non-food bank credit grew 6.7 per cent in July 2020, the same as June 2020, but lower than the growth of 11.4 per cent in July 2019

No pressure from govt to participate in MSME scheme, says SBI chief

Leading bankers welcome term loan installment moratorium announced as economic relief

India's Q1FY21 GDP may shrink by 25%, says ICRA; flags distress in MSMEs

India's Q1FY21 GDP is expected to contract by 25 per cent, ratings agency ICRA said on Tuesday

Over 300,000 MSMEs have registered on Udyam portal since July: Official

Over 300,000 micro, small and medium enterprises (MSMEs) have registered in nearly two months through the new registration process on the 'Udyam' portal, a top official said on Tuesday

Green shoots are mechanical rebound, don't read much into it: Ex-RBI Guv

Short-term as well as medium-term prospects (for Indian economy) continue to be grim, says D Subbarao

MSME promoters likely to stay in charge during resolution process

However, all key decisions will have to be finalised by CoC; govt is also considering amending IBC to bring in the pre-packed scheme for all stressed companies

Govt to set up National Recruitment Agency to hold common govt job exam

Three airports of Jaipur, Thiruvanthapuram and Guwahati to be leased out for development, operation and maintenance under PPP for 50 years

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

Even with Covid, our fresh slippages will be in control: SBI chairman

We believe most customers would start paying EMIs from September as the moratorium comes to an end, said Rajnish Kumar

Stride Ventures provides debt fund of Rs 15 cr in lending platform ZipLoan

Stride Ventures on Wednesday said it has provided a debt fund of Rs 15 crore to ZipLoan, a technology-enabled lending platform that provides loans to micro, small and medium enterprises (MSMEs). "This is Stride's first foray into fintech (financial technology) lending, and the amount will be disbursed in two tranches. The investment underlines the firm's commitment to leverage traditional banking capital to cater to the start-up ecosystem," according to a statement. ZipLoan caters to the need of working capital loans for kirana stores and micro industries. Its proprietary platform ZipScore, which tests credit worthiness of a borrower, has helped maintain non-performing assets at under 3 per cent, the statement said. "We are excited to partner with ZipLoan in their pursuit to revolutionise lending to small business owners. It is our endeavour at Stride to make credit accessible and efficient, as we try to prevent equity dilution and make entrepreneurs truly 'Aatmanirbhar'," Stride ..

MSMEs will take 7-8 months to recover from Covid-19 impact: D&B economist

Traditional sectors like food, drugs, pharmaceutical, ITes (IT-enabled services), banking, retail, automotive, real estate and jewellery are witnessing moderate to high to severe impact

Centre may allow cooperative banks to lend under Emergency Credit Line

Gadkari also said that the government aims to increase MSMEs' contribution to the GDP to 50 per cent and in share of exports to 60 per cent

Working on idea of land bank to help small businesses: Nitin Gadkari

The minister also said there was a need to think how India could increase exports and reduce import dependence

Rs 10,000 crore Fund of Funds scheme to help MSMEs with growth: SBI chief

The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues