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Rs 10,000 cr Fund of Funds for MSMEs to be operational soon: SBI Chairman
Mon, Aug 10, 2020
The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs.
MSMEs alert! Seamless sharing of certain Income Tax Return (ITR) related information - Check details of CBDT memorandum
Tue, Jul 21, 2020
In a major development, a formal Memorandum of Understanding (MOU) was signed today between the Central Board of Direct Taxes (CBDT) and the Ministry of Micro, Small and Medium Enterprises, Government of India (MoMSME) for sharing of data by CBDT to MoMSME.
Emergency Credit Line Guarantee Scheme (ECLGS): Over Rs 19k crore sanctioned to 71 MSMEs
Sun, Jul 19, 2020
The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman last month.
Large number of MSMEs approaching banks for collateral-free loans: Survey
Mon, Jul 13, 2020
Large number of businessmen in the MSME sector have approached banks for collateral-free loans to tide over the crisis following coronavirus outbreak, a Care Ratings survey said.
World Bank offers $750 mn loan for India's covid-hit MSMEs
Wed, Jul 01, 2020
The statement said that the World Bank Group, including its private sector arm - the International Finance Corporation (IFC), will support the government's initiatives to protect the MSME sector by unlocking liquidity and strengthening NBFCs and small finance banks and enabling financial innovations.
Karnataka to build industrial townships for MSMEs
Sun, Jun 28, 2020
Karnataka would soon set up industrial townships near cities for more micro, small and medium enterprises (MSMEs) in the southern state, said state industries minister Jagadish Shettar on Saturday.
Emergency Credit Line Guarantee Scheme: No risk weight! What RBI wants lenders to do for MSMEs
Mon, Jun 22, 2020
In a major development, the RBI has said that lending institutions should assign zero per cent risk weight on the credit facilities extended under the Emergency Credit Line Guarantee Scheme to MSME borrowers announced by the government in the wake of COVID-19 pandemic
Ensure effective rollout of Rs 3-lakh crore ECLGS for MSMEs: FM to pvt banks
Mon, Jun 15, 2020
Under the scheme, 100 per cent guarantee coverage are being provided by National Credit Guarantee Trustee Company (NCGTC) for additional funding of up to Rs 3 lakh crore to eligible MSMEs and interested Micro Units Development and Refinance Agency (MUDRA) borrowers in the form of a guaranteed emergency credit line (GECL) facility.
Decriminalisation of minor offences to improve ease of doing biz, say experts
Thu, Jun 11, 2020
The decriminalisation measures need to be viewed from three different perspectives- ease of doing business; relief to beleaguered MSMEs and companies affected by lockdown and COVID-19; and easing the stress on the National Company Law Tribunal (NCLT), said Atul Pandey, Partner, Khaitan & Co.
After 14 years! New norms of classification of MSMEs for Aatmanirbhar Bharat - All you need to know
Thu, Jun 04, 2020
Modi government-led Ministry of MSME is gearing up to implement the New Norms of classification of MSMEs.
Cabinet meeting decisions - MSME definition: Entities with up to Rs 250 cr turnover, excluding exports, to be medium enterprises
Mon, Jun 01, 2020
As per the new changes, businesses with investment of less than Rs 1 crore and turnover of Rs 5 crore would be classified as micro enterprises. Under the existing criteria, a company with investment of less than Rs 25 lakh in the manufacturing sector and less than Rs 10 lakh in the services sector were considered micro enterprises.
Legal opinion sought on whether NHAI can build smart cities along Delhi-Mumbai E'way: Nitin Gadkari
Tue, May 19, 2020
In case the opinion is in negative then "we will seek Cabinet nod on the proposal," he said and added that the move will not only result in development of the areas but would also generate huge employment opportunities.
FM Nirmala Sitharaman announces Rs 3 lakh cr collateral free loan for select MSMEs
Wed, May 13, 2020
A day after PM Narendra Modi laid out his vision to get the Indian economy back on track after Coronavirus enforced lockdown, Finance Minister Nirmala Sitharaman announced a number of measures for small and medium enterprises today evening, providing some relief during the ongoing crisis.
CHAMPIONS! Modi government launches this initiative to assist MSMEs march into big league
Tue, May 12, 2020
The CHAMPIONS stands here for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength. Accordingly, the name of the system is CHAMPIONS.
Nearly 80 pc MSEs hit as economic activities come standstill amid COVID-19: Survey
Wed, Apr 22, 2020
These respondents were from sectors such as manufacturing, banking, financial services and insurance (BFSI), IT/ IT-enabled services (ITES) / telecom, travel, transport, logistics, retail and outlets, education and related areas, and other professional services sectors.
Gadkari asks India Inc to clear outstanding payments to MSMEs
Wed, Apr 15, 2020
Union Minister Nitin Gadkari on Tuesday asked India Inc to clear huge outstanding payments to micro, small and medium enterprises at the earliest in order to ease the distress in the sector and inject liquidity into market
DPIIT suggests Home Min to permit limited activity in select sectors with safeguards
Mon, Apr 13, 2020
Department for Promotion of Industry and Internal Trade (DPIIT) has suggested the Home Ministry to allow limited activity in certain sectors such as heavy electricals and telecom equipment with reasonable safeguards
All pending MSME loans to be restructured by March 15: FM
Thu, Feb 27, 2020
Total 5.53 lakh MSME accounts have been identified and out of which 5.28 lakh entities have been restructured and the process will be done by March 15, said Nirmala Sitharaman.
MSMEs bank loans: This is how you can make access to money easier
Wed, Feb 19, 2020
Modi government foresees the MSMEs sector contributing up to $2 trillion as India eyes becoming a $5 trillion economy by 2024.
MSMEs can complain if banks deny loan without reason: FM Sitharaman
Sat, Feb 08, 2020
Finance Minister Nirmala Sitharaman on Saturday told micro, small and medium enterprises (MSMEs) to make a complaint if banks deny loans without reason.