Page 17 - Msmes

Digital lenders seek cap on default loss guarantee models from RBI

They suggested that the central bank could look at a reasonable cap to the FLDG models, given RBI's concerns of around build-up of systemic risk and 100% risk transfer rather than banning it outright

Walmart, Flipkart join hands with NSIC to help MSMEs grow, unlock potential

Walmart and Flipkart on Tuesday joined hands with the National Small Industries Corporation (NSIC) to accelerate capacity building for micro, small and medium enterprises (MSMEs) across India, help them unlock export potential and become part of retail supply chains locally and globally. The agreement was signed at a summit here to mark the milestone of 20,000 MSMEs completing their training under the Walmart Vriddhi Supplier Development Programme, of which Swasti is a programme partner. The Vriddhi programme also includes training, seminars and mentoring sessions conducted regularly for MSMEs. Tens of thousands of MSMEs have registered for the programme from metros and Tier II and III cities across India. The partnership will enhance access for participating MSMEs to schemes offered by the NSIC while making learning resources of Vriddhi available to MSMEs registered with the NSIC. "The Indian MSME sector currently comprises 6.3 crore MSMEs that employ more than 11 crore people. We

Flipkart, Walmart ink MoU with NSIC to speed up capacity creation for MSMEs

The three plan to support MSMEs in their quest to integrate with local and global retail supply chains

GSTN in AA network: Operational costs of banks expected to come down

GSTN is expected to go live on AA network in late January or early February, people aware of the development say

Shriram Finance merges with Shriram City to focus on MSMEs and others

Commercial vehicle financing major Shriram Transport Finance Company and two-wheeler and MSME financier Shriram City Union Finance have been merged to form Shriram Finance Limited (Shriram Finance)

Govt in advanced stage to launch Rs 3,500-crore PLI scheme for toy sector

Dept in advanced inter-ministerial talks; schemes for bicycles, footwear to follow

Rural distress harming MSMEs, pulling down manufacturing: Economists

Government's PLI schemes can help manufacturing and reduce import dependence in some sectors, say some experts

GSTN now part of AA network to facilitate cash flow lending to MSMEs: RBI

The AA network had been in discussion with the GSTN network for their onboarding for a long time as this would give financial institutions access to data regarding small businesses

Axis Bank bets on MSMEs, working capital loans to boost credit growth

The lender is seeing demand for capex growth, apart from working capital, an indicator that investments are picking up

43% of MSMEs to close this fiscal with pre-pandemic margins: Report

Nearly half of the small businesses will not be able to claw back their margins to the pre-pandemic levels even though almost all of them will be able to match the fiscal 2020 revenue levels this fiscal due to the inability to completely pass on high commodity prices and the rupee's fall, as per a report. According to the Crisil report on Wednesday, while almost all small businesses are likely to close this fiscal at the FY20 top-line levels, as much as 43 per cent of them will close the fiscal with pre-pandemic margins because of their inability to completely pass on the high prices in some commodities as well as an unfavourable exchange rate. The report is based on 69 sectors and 147 clusters or two-thirds of the MSME universe, which logged an aggregate revenue of Rs 56 lakh crore, representing 20-25 per cent of the GDP. According to Pushan Sharma, a director at the agency, the overall MSME sector is expected to bounce back to 1.27 times the pre-pandemic level in terms of revenue

National security, building cybersecurity products on our agenda: DSCI CEO

'Tremendous amount' of data will be flowing into India, says leader of research and policy group

MSMEs hold the key to $5-trn economy

A proactive and cohesive approach by the government to support micro, small and medium enterprises could raise their contribution to GDP to about 50 per cent in the foreseeable future

Govt-backed SRI Fund commits Rs 5,000 cr to help MSMEs with growth capital

Government-backed Self Reliant India Fund (SRIF) on Friday announced that it has committed over Rs 5,000 crore to help small businesses with growth capital in its first year of operations. The fund, which started as part of the government's flagship 'Atmanirbhar Bharat' programme, has provided approvals to 38 'daughter funds' with a commitment amount of more than Rs 5,000 crore, as per an official statement. It has a 'Mother Fund-Daughter Fund' structure wherein SRIF, the mother fund, invests up to 20 per cent of the corpus of the Daughter Fund, which raises the balance 80 per cent of the capital from outside sources, it explained. The arrangement is designed to maximise the fund flow to the target micro, small and medium enterprises (MSME) sector as the contribution from SRIF gets leveraged five times, taking the total value of investible funds into MSMEs to Rs 50,000 crore. Amitava Chatterjee, the managing director and chief executive of SBI Capital Markets, said the fund has ...

Bharti Axa Life, Accel infuse over Rs 111 cr as equity in Shivalik SFB

The SFB, an urban coop bank earlier, has a large presence in UP and MP; It has over 560,000 unique customers and runs 46 branches and 21 exclusive Business Correspondent Branches across northern India

Credit to industry up 12.6% YoY in September; touches 100-month high

Apart from base effect, credit to industry got a big boost from MSMEs; among sectors, petroleum, gems & jewellery, engineering, iron & steel, and construction were key drivers

OEMs to drive 16-18% rise in auto-parts MSME revenues: CRISIL SME Tracker

MSMEs in the automotive components sector should see higher growth as well, but will lag average industry revenue growth owing to lack of vertical integration.

ONDC to start outreach programme to help sellers speed up their business

The first event of the programme will be an introductory session in Delhi NCR for restaurants, food entrepreneurs and cloud kitchens, on Oct 17

Bandhan Bank plans to hike exposure of secured loans to 70% by 2025

Currently, 39 per cent of the asset book is secured

Govt may extend deadline for Cert-In cyber rules by 3 months to help MSMEs

According to Cert-In's guidelines, all enterprises, intermediaries, data centres and govt organisation are required to report any data breach to the government within six hours of becoming aware of it

EVs, green hydrogen to soon come under priority sector lending: Report

Currently, 8 sectors are eligible to get lending under the PSL mechanism including agriculture, MSMEs, export credit, housing, education, renewables, and social infrastructure sectors