Page 17 - Msme

Odisha gets Rs 837 cr Sidbi loan to develop MSME clusters

Small Industries Development Bank of India (Sidbi) has sanctioned a Rs 837-crore support under its cluster development fund scheme to Odisha to help develop 18 MSME infrastructure projects. The funding from the nation's principal financial institution for micro, small and medium enterprises will be to the Odisha Industrial Infrastructure Development Corporation, which is the implementing agency. The projects include development of five new MSME parks, construction of 11 workers hostels and two projects to support MSME infrastructure. Under its cluster development fund scheme, Sidbi extends moderately priced loan assistances to the states for upgrading various existing MSME clusters as also to create new industrial infrastructure. Sidbi chairman Sivasubramanian Ramann said the focus will be on clusters in sectors/sub-sectors which can directly benefit the MSMEs and to bring them to a next level wherein they emerge vibrant by moving higher on the value chain and remain sustainable.

Raising capital the biggest challenge for women-led MSMEs in India: Indifi

The survey discovered that securing capital remains the biggest challenge

Multinational e-commerce players violating FDI rules, alleges CAIT

Few multinational e-commerce entities with heavy arsenal of funding operating in India have attempted to flout the FDI norms, said CAIT.

Union Budget has outlined steps to boost MSMEs: Dalit trade body

Under the AYE League, business ideas have been invited online till February 15 and they will be scrutinised by experts from eight IITs and two IIMs, he said.

MSME sector group hails budget; another trade body dismayed over tax sops

A leading organisation representing MSMEs praised the Union Budget for 2022-23, saying its proposals are based on "long-term thinking"

Budget 2022: Govt extends ECLGS till Mar 2023; includes hospitality sector

Total guarantee cover expanded to Rs 5 trillion

MSMEs have manufacturing cost advantage in global value chain: Official

There is tremendous potential for Indian MSMEs to be integrated into the global value chain due to their manufacturing cost advantage, and to achieve high growth, MSME Secretary B.B. Swain said

Budget 2022: MSMEs may get credit guarantee, better deal in IBC cases

Banks and MSME industry representatives have sought support for the sector in the line of ECLGS, a measure introduced early in the pandemic

Gadkari calls for attracting more foreign investments into MSME sector

He was speaking at a virtual international conference organised by the chartered accountants' apex body ICAI

Budget 2022: MSMEs may get credit guarantee, better deal in IBC cases

Banks and MSME industry representatives have sought support for the sector in the line of ECLGS, a measure introduced early in the pandemic

Spike in Covid cases may impact banking system's restructured book: Icra

Demand for recast may also go up for loans previously restructured; RBI warns of drop in bank's asset quality but reassures that they are strong enough to withstand huge shocks

MSME credit guarantee scheme saved 1.35 mn firms, 15 mn jobs: Report

ECLGS launched by the government in 2020 to provide relief to MSMEs impacted by Covid-19 pandemic has saved 13.5 lakh firms from going bankrupt and consequently 1.5 crore jobs, claimed a report.

SIDBI signs MoU to develop MSME ecosystem in West Bengal

SIDBI has signed a memorandum of understanding with the government of West Bengal to develop the MSME ecosystem in the state, a SIDBI official said on Friday.

Centre in RS lists steps taken to improve flow of credit to MSME sector

Dr Bhagwat Kisanrao Karad has said that the Centre has announced Emergency Credit Line Guarantee Scheme as part of the Aatma Nirbhar Bharat Package with the objective to help MSMEs

HDFC Bank's MSME loan book in Tamil Nadu breaches Rs 20,000 crore

The bank was the second largest bank in the state with a market share of over 10 per cent, it said

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