For MSMEs, legal constitution can lead to customer stability, faster growth

Micro, small and medium enterprises (MSMEs) registered as companies (private limited and public limited) tend to perform better than those operating as firms (proprietorship and partnership).CRISIL analysed about 4,500 MSMEs, comprising companies and firms in equal measure, over fiscal 2013-15. The analysis revealed that the companies saw a compound annual growth rate (CAGR) of 16 per cent, while the firms grew at 10 per cent. Furthermore, about 67 per cent of the companies had a stable customer base, with a vintage of more than five years, as against 50 per cent for firms. Notably, about 85 per cent of CRISIL's top-rated MSMEs have shown stability in their customer base with a vintage of more than five years, as it is one of the rating yardsticks for evaluating the performance of an entity.CRISIL believes this could be a plausible reason large why corporates prefer to deal with companies - they are perceived to be more transparent in their transactions. A legal constitution will usher

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The Bharatiya Janata Party, which came to power at the Centre at that time, did not benefit from such a political situation and regional parties could keep it at bay

Letters: Not entirely true

The Constituent Assembly did not explicitly lay down any provision for simultaneous elections to panchayats, local bodies, state Assemblies and Parliament

Letters: Political hara-kiri

Automation is eliminating several jobs in the economy once done by the people

Letters: Problems with bots

In the era of Digital India, one chief minister had to depend on snail mail to contact a counterpart across a state border

Snail mail to the rescue

Politics and religion make an unholy, unhealthy combine that we as a people must learn to reject

Letters: When will we learn?

However, another type of flooding that has become a menace in the recent past is pluvial flood, that is flooding over surface independent of the source of water

Letters: Flood threats

It is high time to go for demonetising the higher denomination currency in view of the Income Declaration Scheme closing by this month end

Letters: Expand banking net

Mewat's biryani politics holds ominous portents

Beefed up for exclusion

Declining inflation softens an unexpectedly sharp fall in the IIP

Where is the recovery?

One hears that Ambani senior and his son Akash Ambani met Prime Minister Narendra Modi and Finance Minister Arun Jaitley last month

For the young, by the young

Karnataka Transport Minister Ramalinga Reddy received more invitations to visit Ganesha pandals this festive season than he could hope to attend

Being environment-friendly

Is the government's pet Make in India campaign really working? It is fair to ask that question after two years of launch

Making in India

Shekhar Gupta confuses the issue and terms in his piece, "Genetically ossified absurdity" (September 10)

Letters: Seeds of discontent

With reference to Shekhar Gupta's piece, "Genetically ossified absurdity" (September 10)

Letters: Unexplained delay

Among the first questions Bengal Chief Minister Mamata Banerjee encountered after landing in Kolkata following her eight-day visit to the Vatican and Germany was how she felt about the release on bail of Trinamool Congress heavyweight Madan Mitra

Same old answer

Bihar Excise and Prohibition Department's Principal Secretary K K Pathak is an angry man

Liquor casualty

A retired public sector banker, who has not-so-fond memories of United Progressive Allaince-I's Rs 70,000-crore farm loan waiver in 2008

Padayatra damage

The new president lacks the political capital for reforms

Brazil's dilemma

The Securities and Exchange Board of India (Sebi) sent notices to as many as 10 crowdfunding platforms last week, asking them to clarify their business models and explain how they were not in violation of the securities law. Sebi is worried about small investors being sucked into unknown, illiquid companies, as these platforms operate in a regulatory twilight zone. Sebi's discomfort also stems from the fact that none of these platforms meets the critical net worth criterion of ~100 crore required to set up securities exchanges.Sebi's concerns are valid, as crowdfunding platforms, which are in essence a link between investors and companies (typically start-ups), have been gaining popularity as alternative capital-raising facilitators, but they operate without any authorisation or registration. This is not the first time Sebi has raised these concerns. Two years ago, it had come out with a discussion paper proposing a framework to enable domestic start-ups and small and medium enterprise

Crowdfunding blues

Statspeak: Money-saving drive

More than 67 per cent of Indian consumers say fuel efficiency is more important than power when buying a car

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