Page 3 - Msmes

Axis Bank bets on MSMEs, working capital loans to boost credit growth

The lender is seeing demand for capex growth, apart from working capital, an indicator that investments are picking up

43% of MSMEs to close this fiscal with pre-pandemic margins: Report

Nearly half of the small businesses will not be able to claw back their margins to the pre-pandemic levels even though almost all of them will be able to match the fiscal 2020 revenue levels this fiscal due to the inability to completely pass on high commodity prices and the rupee's fall, as per a report. According to the Crisil report on Wednesday, while almost all small businesses are likely to close this fiscal at the FY20 top-line levels, as much as 43 per cent of them will close the fiscal with pre-pandemic margins because of their inability to completely pass on the high prices in some commodities as well as an unfavourable exchange rate. The report is based on 69 sectors and 147 clusters or two-thirds of the MSME universe, which logged an aggregate revenue of Rs 56 lakh crore, representing 20-25 per cent of the GDP. According to Pushan Sharma, a director at the agency, the overall MSME sector is expected to bounce back to 1.27 times the pre-pandemic level in terms of revenue

National security, building cybersecurity products on our agenda: DSCI CEO

'Tremendous amount' of data will be flowing into India, says leader of research and policy group

MSMEs hold the key to $5-trn economy

A proactive and cohesive approach by the government to support micro, small and medium enterprises could raise their contribution to GDP to about 50 per cent in the foreseeable future

Govt-backed SRI Fund commits Rs 5,000 cr to help MSMEs with growth capital

Government-backed Self Reliant India Fund (SRIF) on Friday announced that it has committed over Rs 5,000 crore to help small businesses with growth capital in its first year of operations. The fund, which started as part of the government's flagship 'Atmanirbhar Bharat' programme, has provided approvals to 38 'daughter funds' with a commitment amount of more than Rs 5,000 crore, as per an official statement. It has a 'Mother Fund-Daughter Fund' structure wherein SRIF, the mother fund, invests up to 20 per cent of the corpus of the Daughter Fund, which raises the balance 80 per cent of the capital from outside sources, it explained. The arrangement is designed to maximise the fund flow to the target micro, small and medium enterprises (MSME) sector as the contribution from SRIF gets leveraged five times, taking the total value of investible funds into MSMEs to Rs 50,000 crore. Amitava Chatterjee, the managing director and chief executive of SBI Capital Markets, said the fund has ...

Bharti Axa Life, Accel infuse over Rs 111 cr as equity in Shivalik SFB

The SFB, an urban coop bank earlier, has a large presence in UP and MP; It has over 560,000 unique customers and runs 46 branches and 21 exclusive Business Correspondent Branches across northern India

Credit to industry up 12.6% YoY in September; touches 100-month high

Apart from base effect, credit to industry got a big boost from MSMEs; among sectors, petroleum, gems & jewellery, engineering, iron & steel, and construction were key drivers

OEMs to drive 16-18% rise in auto-parts MSME revenues: CRISIL SME Tracker

MSMEs in the automotive components sector should see higher growth as well, but will lag average industry revenue growth owing to lack of vertical integration.

ONDC to start outreach programme to help sellers speed up their business

The first event of the programme will be an introductory session in Delhi NCR for restaurants, food entrepreneurs and cloud kitchens, on Oct 17

Bandhan Bank plans to hike exposure of secured loans to 70% by 2025

Currently, 39 per cent of the asset book is secured

Govt may extend deadline for Cert-In cyber rules by 3 months to help MSMEs

According to Cert-In's guidelines, all enterprises, intermediaries, data centres and govt organisation are required to report any data breach to the government within six hours of becoming aware of it

EVs, green hydrogen to soon come under priority sector lending: Report

Currently, 8 sectors are eligible to get lending under the PSL mechanism including agriculture, MSMEs, export credit, housing, education, renewables, and social infrastructure sectors

What is a pre-packaged insolvency resolution process?

India had introduced a pre-packaged insolvency resolution process last year. It was projected as an alternative resolution process for MSMEs. Find out more about it

ONDC can be a game-changer for MSMEs

UPI has revolutionised payments. ONDC can do the same for MSMEs, and take e-commerce's share to 25 per cent of all commerce by 2024

MSMEs mainstay of economy, can make India self-reliant: LS Speaker Birla

Lok Sabha Speaker Om Birla on Friday said the campaign to make India self-reliant can be achieved only through the micro, small and medium enterprises (MSMEs) as they are the mainstay of the economy. Stating that India has long been one of the fastest growing economies of the world, Birla said the present government has implemented many reforms in trade and business sectors, which has raised the inflow of foreign investments. The Atmanirbhar Bharat campaign will be achieved only through MSMEs and the nation will be empowered. MSMEs are the mainstay of the economy, Birla said while speaking at the Annual Session of PHD Chamber of Commerce and Industry. He further said local supply chains should be strengthened for Make in India, which can reduce India's dependence on foreign countries. India has made progress in every field like agriculture, industry and services and the country is rapidly moving towards becoming self-reliant, Birla said. The manufacturing and exports in sectors li

Rajasthan govt approves financial assistance of Rs 100 crore for MSMEs

This scheme was announced in the state Budget 2022-23 to promote micro, small, and medium enterprises (MSMEs), and give loans on easy terms for small businesses and investors

MSMEs' input costs rising, but risk to restructured loan book could fall

If MSMEs are unable to pass on input costs to their customers, then units, especially weaker ones, are likely to face difficulties, said a senior executive of a private bank

Bank NPAs loans may drop to 5% by March 2023 on economic rebound: Crisil

May even touch decadal low of 4% by March 2024; MSMEs remain vulnerable with one-fourth of recast accounts likely to turn NPAs

MSMEs contribute 30% to India's GDP, to grow further: Narayan Rane

India's youth would be the flag bearer of the growth and hence need to be supported by better work opportunities, said Narayan Rane

Finance Minister Sitharaman nudges India Inc to clear unpaid dues of MSMEs

Nirmala Sitharaman said it is encouraging that larger companies are including amounts owed to MSMEs in annual statements