Page 15 - Msme Sector

Govt working on financial package for all sectors amid Covid outbreak

Union Minister for MSME and Road Transport and Highways Nitin Gadkari said "a package is going to be declared".

Govt mulling introduction of import substitution policy, says Gadkari

The Minister for MSME and Road Transport and Highways said a policy on import substitution is being thought of in the wake of the economic situation created by the COVID-19 pandemic.

West Bengal's SLBC to increase rural loans from Rs 4400 cr to Rs 10000 cr

In addition, West Bengal will also request the Reserve Bank of India (RBI) to increase the additional credit limit to MSMEs, to 30 per cent from the existing 10 per cent.

Day 1 of lockdown 3.0: India limps back, but industry still in limbo

With public transport still not allowed in 130 red-zone districts, which comprise some of the economically important urban centres, people took out their private vehicles.

Covid-19 crisis: SBI's 10% term loan customers opt for moratorium on EMIs

Senior SBI executives said most of those seeking deferment are retail and micro and small enterprises and are hard-pressed for resources when earning and cash flows have almost dried up.

PM meets Shah, Sitharaman for second stimulus package as lockdown continues

Small businesses, farmers, women, poor, migrant workers and other marginalised sections are likely to benefit from the second stimulus

RBI governor Shaktikanta Das to hold meeting with bank chiefs today

The meeting will take stock of implementation of several steps announced by the RBI, including moderation in interest rate and its transmission, as well as liquidity infusion measures for industry

UP to explore alternative revenue sources to boost cash flow under lockdown

Adityanath asks officials to institute a committee in this regard

Lockdown 2.0: Coronavirus-hit units get Rs 10,000 crore from banks

Banks have built internal capacities for assisting companies, including micro, small & medium enterprises (MSMEs).

Icra to review rating methodology, factor in 3-month Covid-19 disruption

The rater will now redraw its projections assuming that a business-as-usual operating environment may not return soon

Govt's second stimulus likely this week, may keep industry waiting

Small businesses, farmers, women, poor, migrant workers to benefit from latest measures for political messaging.

Sonia Gandhi writes to PM Modi seeking economic package for MSMEs

Gandhi emphasised that the MSME sector is suffering around Rs 30,000 crore loss every day due to the lockdown

31% apparel units to shut down, 2.5 mn jobs at risk due to lockdown: CMAI

A study conducted by the industrial body says job losses in the textile value chain could be a staggering 10 million

House panel opposes lay-off payment for workers during natural calamities

The Standing Committee has suggested that the government allow bigger companies to retrench workers, without the need to seek official nod from the government

PM Modi, Sitharaman to meet today to finalise second stimulus package

Friday's meeting follows a wide range of deliberations held within the government and with eminent experts.

70% firms expect degrowth amid coronavirus outbreak, says survey

The survey, which covered 380 firms across sectors, portrayed that most of the respondents want tax relief, demand creation and ease of compliance from the government.

Business optimism for April-June quarter falls to record low: Report

The Dun & Bradstreet Composite Business Optimism Index stood at 49.40 per cent for Q2 2020 (April-June), a record low and worse than during the 2009 financial crisis.

What migrant labourers say in lockdown: 'work can wait, family cannot'

In the last few days, the restlessness of the migrant workers has spilled into the streets in major cities, including Mumbai, New Delhi, and Surat.

Covid-19 lockdown 2.0: Need govt support to keep units open, say MSMEs

On Tuesday, MSME Minister Nitin Gadkari had stated during a meeting that unpaid dues of MSMEs at the central and the state levels will be released at the earliest.

Idling trucks, staff shortage: Bottlenecks for industries amid lockdown

Close to 3.5 million trucks (along with their drivers and assistants) are off the road - some because of manpower shortage, and some because they are stuck in various parts of the country.