MSME Financing

While sales sentiment softened modestly in the July-September quarter, 50 per cent of trading and 47 per cent of manufacturing MSMEs reported positive growth

The Centre is finalising a reform package to reduce costs, improve logistics efficiency, and strengthen innovation in the MSME sector, which contributes 30 per cent to India's GDP

Sundeep Mohindru, founder-director of M1xchange, interacted with Raghu Mohan via email on the issues facing MSMEs

MSME-focused fintech Progcap on Tuesday said it has launched a programme to offer collateral-free loans of up to Rs 10 lakh to women-led small and medium enterprises in the next three years. The fintech, which is backed by Peak XV (previously Sequoia Capital India), Google and Tiger Capital, among others, seeks to empower 10,000 women-led MSMEs in semi-urban and rural India by FY27, Progcap said in a statement. "Progcap has introduced ProgShakti Development Program, wherein women entrepreneurs can access loans of up to Rs 10 lakh and get certified through capacity-building knowledge sessions helping them grow their businesses," it said. Aligned with the government's 'Viksit Bharat' vision for 2047 and the goal of increasing women's workforce participation to 70 per cent, Progcap's initiative offers customised credit to women-led enterprises and eliminates the need for a male co-applicant while assessing the creditworthiness, Progcap said. Founded by Pallavi Shrivastava and Himanshu

Currently, over 1 crore registered MSMEs, employing 7.5 crore people and generating 36 per cent of our manufacturing, have come together to position India as a global manufacturing hub

Since the IES expired on December 31, the commerce department is seeking approval for a slightly modified version of the scheme to cover at least MSMEs

It is also expected that the Union Budget for FY26 may have more measures for MSME financing, with a bigger role for TReDS

The state government claims that it received investment commitments worth over Rs 25 trillion so far

Chandra began his banking career with Erstwhile Corporation Bank in September 1991 as a probationary officer. He holds a master's degree in economics

Union Minister of State for MSMEs Shobha Karandlaje on Friday emphasised that public sector industries must prioritise MSMEs when purchasing spare parts and raw materials. A memorandum to that effect will be submitted to Prime Minister Narendra Modi, said Karandlaje. The minister inaugurated a two-day conclave on MSME, organised by the Federation of Karnataka Chambers of Commerce & Industry (FKCCI) at Palace Grounds in Bengaluru. Karandlaje said small, micro, and medium sector industries play a vital role in the industrial development of the country. These MSMEs create jobs for our youth. The Centre has evolved many schemes to encourage MSMEs, she added. She also highlighted that there has been an increased allocation for MSMEs in the Union budget, emphasising that MSMEs are playing a vital role in realizing Prime Minister Narendra Modi's vision of a "Vikasit Bharat." According to Karandlaje, there is a need to improve the skill development of youth in MSMEs to better align with .

It is challenging to assess the creditworthiness of small enterprises, says Swaminathan J

Union Budget 2024-25: Finance Minister Nirmala Sitharaman announced the continuation of bank credit to micro, small, and medium enterprises (MSMEs) during stress periods

The government has accepted more than 10,000 claims of MSMEs involving refunds worth Rs 256 crore under a dispute resolution scheme Vivad se Vishwas-I. Under the scheme, MSMEs could claim a refund of 95 per cent of performance or bid security and liquidated damages forfeited by government departments and public sector entities during the COVID-19 period. The scheme, announced in 2023-24 Budget, opened on April 17 and the last date for submission of claims for relief on the GeM portal was July 31. "In a major relief to the Micro, Small and Medium Enterprises (MSMEs), various Ministries/Departments of the Government of India have accepted more than 10,000 claims of MSMEs under Vivad se Vishwas -I scheme aimed at providing relief to MSMEs for the COVID-19 Pandemic period. This has led to grant of more than Rs 256 crore to MSMEs and increased flow of bank credit through freeing up of guarantees," a finance ministry statement said. The highest relief of Rs 116.47 crore has been granted

It expects to grow its asset book to Rs 5 trillion by March 2024 from about Rs 4 trillion in March 2023, said S Ramann

Nearly a dozen agricultural and traditional products are likely to be awarded the Geographical Indication (GI) certificate soon

The RBI's guidelines on TReDS categorically state that an invoice has to be accepted by buyers before they can be financed by banks

SBI has onboarded U GRO Capital as its first co-lending partner for its Sanjeevani programme to finance MSMEs

The loan has a maturity of 18.5 years including a 5.5-year grace period.

Northern Arc says it is focusing on the financing of Used CVs.

According to them, measures such as revisiting classification of bad loans and clearing pending dues from government agencies are also required