Page 12 - Msme

Engineering sector MSMEs seek production linked incentive scheme

An engineering sector's body of MSMEs has demanded from the government to announce a production linked incentive scheme (PLI) for the industry to boost domestic manufacturing, exports and job creation. In a communication to the commerce ministry, Ludhiana-based Hand Tools Association said that the sector provides employment to 7.25 workers for every Rs 1-crore sale per year on an average as compared to the job creation ratio of 4.75 in bicycle industry and 5-6 in textiles. Exports of hand tools industry is about Rs 3,200 crore annually. The association's President S C Ralhan said that the Indian hand tools industry has a long way to go in order to realise its full potential and it holds huge possibilities. But the main challenge is rapid modernisation, he added. "The total hand tools industry globally is Rs 30,000 crore and there is aggregate potential for modernisation and growth. Thus we request that the government should prioritise the industry and also bring it under the PLI .

At 16.2%, credit growth in banking system at multi-year high: RBI data

But a widening credit-deposit gap is a concern for lenders

Hard choice for MSME med device makers: Get licence by Oct 1 or shut shop

All Class A and Class B med device makers to switch to licensing regime within; many are dealing with slow pace of govt audits or simply not clearing them

CM Ashok Gehlot to release Rajasthan handicrafts, MSME policy on Saturday

Rajasthan Chief Minister Ashok Gehlot will release the state's first handicrafts policy and Rajasthan MSME Policy-2022 on Saturday on the occasion of MSME Day. Udyog Ratna and Export Promotion Awards will also be given to entrepreneurs and exporters in the programme, an official statement said. According to the program, Chief Minister Gehlot will release these policies at a program in Jaipur and will release a coffee table book 'Rajasthani Artifacts' prepared on the handicrafts of Rajasthan. Industries Minister Shakuntala Rawat said that the objective of Rajasthan Handicraft Policy-2022 is to provide better marketing arrangements for the upliftment of handicrafts, to revive traditional arts and extinct arts and to create new employment opportunities. With the implementation of the first handicraft policy of the state, artisans of rugs, ceramic and clay art, painting, leather craft, jewellery etc. will be benefited and more than 50,000 new employment opportunities will be available

One in every six MSME loans under ECLG scheme turned into NPAs: Report

The National Credit Guarantee Trustee Company Ltd (NCGTC) declared that 1.6 million accounts or 16.4 per cent of the total 9.8 million loans disbursed have been converted to NPAs

Banks jump on the ONDC bandwagon to draw synergy from the network

Nine banks have picked up stake in the Open Network for Digital Commerce (ONDC) network

JSW sets ambitious goals for e-commerce business, eyes $20-bn GMV by FY32

Of the targeted $20 billion GMV by FY32, JSW products is expected to account for 65 per cent, the balance would be non-JSW

Existing players will join once penetration crosses single digits: ONDC CEO

In a Q&A, T Koshy, dwells on the network's national road map, challenges in onboarding small retailers, and the value proposition for customers

Fintech start-up FinAGG raises $3mn in funding to expand business

Company seeks to gain from increasing global supply chain financing volumes

FICCI-IBA survey: Banks say NPAs may rise in MSME sector in next 6 months

Retail trade, hospitality, aviation at high risk; long-term credit demand growing for infra, chemicals, food processing, and iron and steel sectors

Volatile cotton prices, weak domestic demand hurt Gujarat's denim industry

Most MSMEs running at 60 per cent capacity as high input prices have also made exports costlier

Uttar Pradesh govt seeks to take embassies' help to boost exports

Among the top-selling UP products are leather goods, carpets, hand woven textiles, brassware, glassware, sports goods, etc

Russia about to 'run out of steam' in Ukraine, says British spy chief

Richard Moore, chief of the Secret Intelligence Service, also estimated that about 15k Russian troops had been killed so far in its war in Ukraine, adding that was 'probably a conservative estimate'

Invest Rajasthan meet in October likely to attract Rs 10-trn investment

Chief minister Ashok Gehlot said that Rajasthan has great potential for investors, adding that the positive atmosphere here attracts investors from all over the country and the world

Lendingkart raises Rs 75 cr in debt fund from GMO LLC, Triodos Investment

The company will use the funds to originate MSME loans across all states with credit decisions in a live environment using in-house built origination engine 'xlr8' and 'zero touch' features.

IOB aims to boost advances to retail, MSME, agri, corporate sector in FY23

IOB is aiming to boost advances in retail, MSMEs, corporate and agricultural loans during the current fiscal year, as the lender has substantially brought down the stressed assets on its balance sheet

What is Udyam registration for MSMEs?

Loan demand of micro, small and medium enterprises (MSMEs) is rising. But how do one register to set up an MSME? For this the govt had launched an online system called Udyam. Let us know more about it

Both customers and banks to feel pain in new regime

The banks have a balm for their pain. Probably, shifting to floating rate deposits can work as an anaesthetic gel for some of the customers

Bandhan Bank to increase exposure to secured loans to MSME: MD & CEO

Bandhan Bank will gradually increase its exposure to secured loans by enhancing advances to the housing and MSME sectors, its Managing Director and CEO Chandra Shekhar Ghosh said.

State Bank of India looks to offload retail, SME NPAs via portfolio sale

The realisation expected for non-NARCL sales is 35-40 per cent, a senior SBI executive said.