MSME lending target for PSBs raised 19.5%
However, gaining access to technology is not the only problem small and medium-sized businesses are facing
In contrast, the report said that access to markets and finance are the most significant challenges confronting non-integrated MSMEs in India
NITI Aayog, industry to nudge MSMEs to embrace tech
The draft circular states that "divergent practices" of lenders concerning foreclosure charges/ prepayment penalties lead to "customer grievances and disputes"
This comes after the health ministry had on February 11 formally extended the deadline for implementing the revised Schedule M by one year for pharma companies with an annual turnover below Rs 250 cr
While big industry is crucial, ISID's industrial development report advocates strengthening medium and small enterprises and startups to achieve India's 2047 goal
A majority of MSMEs surveyed expressed that excessive regulation over data and digital tools can create constraints for them and deprive them of tech gears necessary for scaling the business and reaching new markets and customers, a report has said. India SME Forum conducted a survey among more than 1,000 MSMEs for insights into the integration of digital tools within their operations, the report said. A majority of respondents said that excessive regulation could create constraints for MSMEs, depriving them of digital tools necessary for scaling their businesses, reaching new markets, and sustaining competitiveness, it said. Digital tools serve as a cost-effective and scalable means to compete with larger enterprises and establish their brands. "Many MSME members have expressed that the current overall regulatory framework for personal data and non-personal data is overly restrictive, creating compliance burdens that hinder their ability to market effectively and engage with ...
The Finance Ministry statement further noted that the benefits to MSMEs by use of this model includes submission of application from anywhere through online mode, reduced paperwork and branch visit
Nageswaran said MSMEs should shed their fear of growth and transform across scales - from micro to small, from small to medium, and from medium to large enterprises
In the UP State Focus Paper prepared by Nabard, the state is projected to have a consolidated credit potential of ₹7.69 trillion in FY26 across priority sectors
Current allocation may not be enough to design and implement support schemes
The MSME sector may be on the cusp of a big change if it seizes on the opportunities in financing and protection in getting dues
From closures to online pivots, how small enterprises weathered the pandemic storm
Mohanty stated that he wants the corporate tax to be further reduced for the MSME sector
The launch of a new credit guarantee scheme for the MSME sector covering loans up to Rs 100 crore will help attract more investments, promote manufacturing and boost the country's exports, exporters say. They said that the exporting community's lack of adequate financing for capital investments has long been a challenge for MSMEs, restricting their ability to scale and compete in global markets. On January 29, the government launched the Mutual Credit Guarantee Scheme for MSMEs (MCGS- MSME) with an aim to provide 60 per cent guarantee coverage by National Credit Guarantee Trustee Company Ltd (NCGTC) to Member Lending Institutions (MLIs) for credit facility of up to Rs 100 crore sanctioned to eligible MSMEs for purchase of equipment/machinery, the finance ministry said in a statement. For availing the scheme, the MSMEs should fulfil certain conditions which include that the borrower should be an MSME with valid Udyam Registration Number, loan amount guaranteed shall not exceed Rs 100
Mutual Credit Guarantee scheme will provide 60% guarantee coverage for loans up to Rs 100 crore
SME-focused business financial platform Tide looks to onboard 5 lakh MSMEs to reach 10 lakh members by December 2025 on the back of new AI-powered solutions, a top company official said on Thursday. Tide has crossed 5 lakh MSMEs (members) on its platform within two years after its market entry, Tide in India CEO Gurjodhpal Singh said in a statement. Our goal is to welcome another 500,000 small businesses to Tide by December 2025. To make this happen, we're expanding our range of financial tools using advanced technology to tackle the latest business challenges, Singh said. We're focusing on smarter AI-powered financial insights, stronger connections with India's growing digital payment systems, and new features to make managing finances and admin even easier, he added. Tide plans to offer new products like savings and investments, tailored insurance plans, easy access to formal credit, simplified Udyam registration, hassle-free GST filing and advanced payment acceptance solutions.
nasscom foundation on Thursday announced the appointment of Jyoti Sharma as its new Chief Executive Officer, effective immediately. Succeeding Nidhi Bhasin, Sharma brings over 20 years of experience in driving social impact and leading program development, resource mobilisation, and stakeholder engagement, according to a company statement. "Her visionary leadership and deep expertise will be instrumental in scaling our impact through our flagship programmes, broadening our reach, and driving meaningful change through the innovative use of technology," nasscom foundation Chairman Rostow Ravanan said. Established in 2001, nasscom foundation is a not-for-profit organisation representing the Indian tech industry. Sharma said she will work towards strengthening nasscom foundation's TechForGood legacy by broadening its reach and deepening its impact. "My focus is to ensure that the synergy of technology and social innovation paves the way for India to achieve its vision of digital equit