Page 15 - Msme

MSME lending platform LoanKuber raises Rs 13 cr in pre-Series A round

The company aims to grow its loan book to Rs 75 crore in the next 12 months

Festive season retail demand, MSME drive bank loan growth in October

Credit offtake in services remains weak

Centre to emphasise development of MSMEs in North East: Union Minister

Rane, the minister for MSMEs, said the sector plays a significant role in terms of job creation and expanding the manufacturing base.

Google to chip in Rs 110 cr for MSME lending project in pact with Sidbi

Sidbi anchors programme for micro enterprises with loans up to Rs 1 cr at subsidised interest rates

These teams worked remotely to help Flipkart pull off Big Billion Days sale

RedSeer says Flipkart emerged as the leader during festive sales with an impressive 64% market share. It competes with Amazon, Reliance's JioMart and Tata CLiQ in this space

Sundaram Finance to create awareness on govt schemes like MSME Samadhaan

Under MSME Samadhaan, a portal for delayed payment has been created for empowering micro and small entrepreneurs across the country to directly register their cases relating to delayed payments

India requires more tech centres, need to be constructed speedily: Rane

Micro, Small and Medium Enterprises Minister Narayan Rane on Friday said that for a population of 135 crore, the nation needs more technology centres which need to be speedily constructed.

Saline gargle RT-PCR test tech transferred to MSME Ministry

The National Environmental Engineering Research Institute has transferred the know-how of the indigenously-developed saline gargle RT-PCR technique, used for testing Covid samples, to MSME ministry

Govt to release incentive arrears worth Rs 56,027 crore to exporters

Clearing their dues has been a long-standing demand of exporters

Flipkart launches programme to find D2C brands and enable funding for them

The D2C (direct to consumer) sector in India is currently worth $44.6 billion (end of FY 2021) and is expected to be worth $100 billion by 2025.

HDFC Bank signs pact with NSIC to provide credit support to MSMEs

HDFC Bank on Tuesday said it has signed a pact with the National Small Industries Corporation (NSIC) for providing credit support to the micro, small and medium enterprise (MSME) sector. Under this, the country's largest private sector bank will also provide MSMEs with a set of specially-tailored schemes to enhance their competitiveness. "HDFC Bank has signed a memorandum of understanding with National Small Industries Corporation to offer credit support to MSMEs across the country," the bank said in a statement. The bank branches will extend support to the MSME projects in the areas they are located and to other important industrial sectors across the country. Rahul Shukla, group head (commercial and rural banking) of HDFC Bank, said the partnership will help reboot the economy and give it a required fillip. "We believe this partnership with NSIC will help expedite the MSME sector growth, which is the backbone of the country both in terms of economic development and job creation,

Rahul slams Centre, says farmers, MSMEs, salaried class being demonetised

Gandhi on Wednesday alleged that the Central government has "demonetised" farmers, labourers, small and medium businesses, salaried class, and honest industrialists

India-focused offshore funds, ETFs see $1.5 bn outflows in June quarter

This was the thirteenth consecutive quarter of net outflows for the category

From zero to Rs 11,400 cr: How Murthy's retail business got a 'scrap' boost

As Bezos and Narayana Murthy end their joint venture, their prolific growth cannot be discounted

HDFC Bank to hire 500 more employees this fiscal to expand MSME coverage

Country's largest private sector lender HDFC Bank, which has a focus on the MSME sector, is hiring 500 more relationship managers this fiscal as the bank is expanding its coverage to 575 districts, a senior banker has said. The headcount addition will take the Micro, Small and Medium Enterprises (MSME) vertical strength to 2,500. As of June end, its employee strength stood around 1.23 lakh. The bank's MSME vertical covers 545 districts now with dedicated relationship managers and supervisors, which will be expanded to 575 districts or more by the end of this fiscal. "As we are expanding our MSME footprint to 575 districts from 545 now, we are hiring over 500 more to the 2,000-strong headcount at the MSME vertical this fiscal year. This should take the overall headcount at the vertical to a little over 2,500," Sumant Rampal, senior executive vice-president for business banking & healthcare finance, told PTI on Monday. After reclassification and the resultant tagging of wholesaler ..

Small business suffer as banks shut current accounts after RBI circular

State-owned lenders welcome 'need for discipline' but their private competitors say business is suffering

Around 10.9 million MSME borrowers gets guarantee support under ECLGS

Around 10.9 million MSME borrowers have been provided with guarantee support amounting to Rs 1.65 trillion as of July 2 this year under the ECLGS

Gadkari emphasises on all-round efforts for Aatmanirbhar Bharat initiatives

Minister for MSME and Road Transport and Highways Nitin Gadkari has emphasized that all-round efforts are required for implementation of various initiatives undertaken as part of Aatmanirbhar Bharat

The credit push

Relief package is well-intentioned but won't move the needle much

Bank of Maharashtra tops PSU bank chart in MSME loan growth in FY21

State-owned Bank of Maharashtra (BoM) has become top performer among public sector lenders in terms of retail and MSME loan growth during 2020-21. The Pune-based lender recorded a 35 per cent growth in MSME loans at Rs 23,133 crore in 2020-21, according to the BoM data. It was followed by the Chennai-based Indian Bank which posted a 15.22 per cent growth in loan disbursal to MSMEs with aggregate loans at Rs 70,180 crore at the end of March 2021. When it came to loans to retail, BoM with nearly 25.61 per cent growth was ahead of even the country's largest lender State Bank of India, which recorded 16.47 per cent rise. However, in absolute terms SBI's asset base to retail segment was a whopping 30 times higher at Rs 8.70 lakh crore as against Rs 28,651 crore of BoM. Bank of Baroda increased its retail loan portfolio by 14.35 per cent to Rs 1.20 lakh crore during the last fiscal year, the data showed. For the full year 2020-21, BoM's standalone net profit jumped nearly 42 per cent