Msmes

Progcap looks to raise $45 million equity capital in FY28 to fuel growth

MSME fintech firm Progcap aims to raise up to USD 45 million (approximately Rs 425 crore) from share sales in FY28 to expand its lending business. "We are planning a capital raise through equity dilution next financial year," Progcap co-founder Himanshu Chandra told PTI. It would be through private placement of shares, and the quantum could be in the range of USD 40-45 million, depending on the valuation, he said. "We have enough capital to take care of growth needs for the current financial year. We may look at dilution of equity next financial year," he said, adding that the dilution would be in the single digit. The fintech firm, which obtained an NBFC licence in 2022, has been witnessing very high growth in MSME lending, especially wholesalers and retailers. The fintech is currently present in 500 cities, Tier II, III and IV cities, with over 30,000 borrowers having an average ticket size of Rs 10 lakh. The lending firm focuses on loans to retailers and wholesalers across 10

UP govt's new startup policy to back deep-tech, women entrepreneurs

Uttar Pradesh is drafting a new startup policy with incentives for deep-tech ventures, women-led firms and innovation-driven entrepreneurship

Stainless steel MSMEs seek quality control revival over rising imports

Over 100 MSME players of the stainless steel sector have urged the government to reintroduce the quality control order, citing a surge in Chinese imports after the order was revoked to ease the sourcing of raw material for domestic manufacturing. The steel ministry, through an order dated April 27, suspended the quality control order (QCO) that mandated the use of only BIS-certified items for various stainless steel products. The move was aimed at easing the compliance burden for local producers, especially micro, small and medium enterprises (MSMEs). However, MSMEs of the stainless steel industry have raised concerns over the steep rise in imports of stainless products following the suspension of the QCO. "The suspension of QCO has opened the door for a surge of low-priced imports from China, placing domestic MSME manufacturers under severe pressure and threatening thousands of jobs and substantial investments made by Indian entrepreneurs," industry bodies Stainless Steel Induction

RBI eases MSME onboarding on TReDS, allows guarantee cover for financiers

Central bank consolidates TReDS regulations, eases MSME access and permits financiers to obtain credit guarantee cover on platform exposures

India's IBC gives lenders too much power, sidelines operational creditors

A basic principle of game theory separates the power to divide a pie from the power to choose a slice. The IBC collapses the two

Fisme flags impact on MSMEs from retail diesel curbs; to approach govt

Fisme plans to seek relief for micro and small enterprises, saying new restrictions on diesel purchases from retail outlets could disrupt operations of DG sets

India's FY26 GDP data: Resilience amid global turbulence, concerns remain

Strong services and manufacturing growth supported India's FY26 performance, but challenges around employment, inequality and regional disparities continue to weigh

MSME loan portfolio grows 12.8% Y-o-Y to Rs 46 trillion in April 2026

Outstanding MSME loans reached about Rs 46 trillion in April 2026, but portfolio growth and active loan additions slowed sharply as global uncertainty weighed on credit supply

Digital adoption raises productivity, aids formalisation: SBI Research

SBI Research says greater ICT adoption among informal enterprises boosts labour productivity, accelerates formalisation and improves access to formal credit

Industry seeks faster disposal of high-value GST disputes, appeal relief

With GSTAT benches becoming operational, industry bodies have urged the government to fast-track large disputes and extend the June 30 deadline for filing appeals

Geopolitical uncertainty slows MSME credit growth: CRIF High Mark

CRIF High Mark said MSME credit growth moderated amid global uncertainty, while early-stage stress surfaced among micro borrowers, manufacturing firms and working-capital loans

Binding national floor wage may redefine states' minimum wage structures

India's new Labour Codes introduce a binding national floor wage, but experts warn the absence of a clear wage-setting formula could create uncertainty and uneven implementation

MSMEs have made loan requests worth ₹650 cr under ECLGS 5.0: Salee S Nair

In Q4, the bank reported NIM of over 4 per cent largely because, in anticipation of higher deposit costs, we repriced advances earlier

Moderation in revenue growth, margin looms for textile MSMEs: SME Tracker

Export-oriented RMG clusters such as Tirupur and Bengaluru are likely to see better revenue growth than domestic-focused clusters such as Kolkata and Kanchipuram

Heat stress widens factory divide as MSMEs face rising summer costs

Extreme heat is pushing up electricity bills, cooling costs and compliance expenses while reducing worker productivity, hitting factories and MSMEs with a rising but hidden cost burden

ECLGS 5.0 finds traction as MSMEs look for buffer amid uncertainty

Banks are seeing early interest in ECLGS 5.0 as MSMEs seek extra liquidity buffers amid rising uncertainty linked to the West Asia crisis

Fisme to Siam: Share rising input cost burden with MSME vendors

FISME has asked SIAM and automobile OEMs to help MSME auto component suppliers absorb rising wage, energy and raw material costs linked to the West Asia crisis

MSME GNPA ratio falls to 3.3% by Sep. 2026, but further decline unlikely

CareEdge said MSME asset quality improved significantly from FY20 levels, though global trade disruptions, rising costs and export-linked risks could weigh on future loan performance

Skill ministry working on unified database of skilling centres: MSDE Secy

MSDE Secretary Debashree Mukherjee said the ministry is building a common database of skilling centres to improve coordination and benchmark quality standards

Large companies must ensure timely working capital release of MSMEs: CEA

Large companies must ensure timely release of payments to micro and small enterprises to ease their working capital needs and reduce cost of funds, Chief Economic Advisor V Anantha Nageswaran said on Tuesday. Speaking at the CII Annual Business Summit, Nageswaran said large companies should accept invoices presented by micro, small and medium enterprises and make payments on time. "Larger enterprises in the country have to pledge to contribute to relieving the working capital requirements of micro and small enterprises. Micro, small, and medium enterprises are the source of working capital for large enterprises. It should be the reverse. And because these enterprises have a much higher cost of capital," Nageswaran said. Freeing working capital for MSMEs would create a "successful, positive bandwidth" in terms of innovation, Nageswaran said. India has a huge pool of MSMEs with many struggling to scale up and integrate better into the global value chain. He said the government has ma