Smes

War shadow on Bengal foundries as stocks pile up, economies slow down

Export orders have been slowing down since Jan, impacting SMEs and depriving workers of overtime pay, a crucial wage component

Star SME: Fine Organic Industries sets its sights firmly on the future

Fine Organic Industries' R&D strengths have helped it forge ahead in the chemicals business

SMEs in Singapore urged to use PayNow-UPI scheme for biz deals with India

The Singapore Indian Chamber of Commerce and Industry (SICCI) has urged Small and Medium Enterprises (SMEs) in the city-state to use the PayNow-UPI linkage for business dealings with India for ease of payment. SICCI Chairman Neil Parekh, while welcoming the launch of the linkage of India's Unified Payments Interface (UPI) and Singapore's PayNow on Tuesday, also emphasised that the SMEs stand to benefit from the launch of the cross-border real-time digital payment system. The launch is timely as both countries have resumed normalcy, and Singapore continues to see a steady and high influx of Indian entrepreneurs coming to Singapore for business delegation meetings with their counterparts and our Chamber, Parekh said. Small and medium enterprises stand to gain with this launch of real-time payment, and SICCI strongly urges SMEs who have business dealings with India to use the scheme for ease of payment, Parekh told PTI. Singapore Prime Minister Lee Hsien Loong and his Indian counterpa

Need to create specialised SME digital bank: Co-founder of Biz2Credit

Ahead of the Union Budget, Rohit Arora, CEO and Co-Founder of Biz2X, has suggested the government needs to come out with a specialised SME digital bank to cater to the funding needs of small businesses. Finance Minister Nirmala Sitharaman will present the last full Budget before the 2024 general elections in the Lok Sabha on February 1, wherein she is expected to announce slew of measures to boost economic growth. Arora said that small and medium businesses perennially face credit shortage and it is time that the government should come out with a specialised bank to cater their requirements. "SME digital bank can provide a bouquet of services to MSMEs, such as business CASA accounts for transaction banking, invoice and payments processing, correspondent banking, SME credit and trade finance, and other business financial services," he said. Biz2X is a turnkey global SaaS platform that enables financial institutions to provide a customised online lending experience for their small an

Discussions for next G20 Financial Inclusion Action Plan kicked off

The members will decide on the final priorities, but Sarkar said, the major ongoing priorities were digital financial inclusion and making finances more accessible to SMEs

BSE signs MoU with Goa govt to promote development of SMEs

Leading stock exchange BSE on Friday said it has joined hands with the government of Goa for the development of SMEs (Small Medium Enterprises) in the state. With the association of Goa government, the exchange will look at creating awareness amongst SMEs in the state on the benefits of listing on the exchange. BSE will also guide them on the efficient ways of raising capital through equity infusion. In this regard, BSE has signed a Memorandum of Understanding (MoU) with the government of Goa, the exchange said in a statement. Besides, the exchange will also provide training and capacity-building support to District Industries Centre officials and facilitates SMEs with respect to registration/listing on the platform. "This association with the government of Goa will play a significant role in opening a plethora of opportunities for small-medium enterprises," Sundararaman Ramamurthy, Managing Director and Chief Executive Officer of BSE, said. BSE is the largest SME Exchange in Indi

Nasscom hails draft data protection bill for dropping contentious rules

Provisions on non-personal data, criminal penalties, hardware certification scheme, and statutory data residency requirements among those axed

Key challenge for new BSE chief: Keep NSE, rival he helped build, in check

Having spent nearly two decades at the country's largest bourse, Ramamurthy is among the early architects of NSE and understands all the cogs of the exchange wheel like only a few others

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

25% micro credit customers graduated to SMEs since Covid: Bandhan Bank MD

Ghosh says bank is looking to increase branch count to 8,000 nationally from the current 5,640

EnKash: Powering India's SMEs and start-ups with a suite of corporate cards

The firm currently has a user base of 100,000 enterprises and processes transactions worth about Rs 28,000 cr a year

Google-backed Open plans to onboard 10 mn small businesses in three year

Open competes with players such as Razorpay and British fintech firms like Revolut and Tide

Twin headwinds lash SMEs in gems and jewellery sector: Crisil SME Tracker

The rise in the prices of gold will also curb demand, though it will support the revenues of SMEs

SME EPC road contractors face shrinking margins as input costs spike

However, national highway projects are typically executed by large contractors, with only a small proportion sub-contracted to SMEs

State-owned GMDC to expand lignite production as demand increases

Company says 10 million tonnes production this year, sees gaining business from small businesses

SME Chatroom: 'IGCR Rules apply only when exemption notifications say so'

the duty concessions are available under exemption notifications and some of them mandate the procedures prescribed under the said IGCR Rules.

India the place to be in now, says HSBC India CEO Hitendra Dave

'We are in growth, customer acquisition, and balance-sheet expansion mode'

PSBs to focus on 3-yr roadmap to support SMEs, farming under EASE reforms

The roadmap will be based on broad themes of business growth, profitability, risk, customer service, operations, and capability building

Russian importers seek deals with smaller Indian firms to avoid sanctions

Private sector players in Russia have met with potential suppliers in India's big cities and are opening specialised bank accounts at home for roubles-to-rupees transactions

U GRO's public issue of bonds opens on Thursday to raise up to Rs 100 cr

U GRO Capital, a non banking financial company focused on small and medium enterprises, on Tuesday announced opening of public issue of bonds later this week to raise up to Rs 100 crore