Page 18 - Msmes

What is a pre-packaged insolvency resolution process?

India had introduced a pre-packaged insolvency resolution process last year. It was projected as an alternative resolution process for MSMEs. Find out more about it

ONDC can be a game-changer for MSMEs

UPI has revolutionised payments. ONDC can do the same for MSMEs, and take e-commerce's share to 25 per cent of all commerce by 2024

MSMEs mainstay of economy, can make India self-reliant: LS Speaker Birla

Lok Sabha Speaker Om Birla on Friday said the campaign to make India self-reliant can be achieved only through the micro, small and medium enterprises (MSMEs) as they are the mainstay of the economy. Stating that India has long been one of the fastest growing economies of the world, Birla said the present government has implemented many reforms in trade and business sectors, which has raised the inflow of foreign investments. The Atmanirbhar Bharat campaign will be achieved only through MSMEs and the nation will be empowered. MSMEs are the mainstay of the economy, Birla said while speaking at the Annual Session of PHD Chamber of Commerce and Industry. He further said local supply chains should be strengthened for Make in India, which can reduce India's dependence on foreign countries. India has made progress in every field like agriculture, industry and services and the country is rapidly moving towards becoming self-reliant, Birla said. The manufacturing and exports in sectors li

Rajasthan govt approves financial assistance of Rs 100 crore for MSMEs

This scheme was announced in the state Budget 2022-23 to promote micro, small, and medium enterprises (MSMEs), and give loans on easy terms for small businesses and investors

MSMEs' input costs rising, but risk to restructured loan book could fall

If MSMEs are unable to pass on input costs to their customers, then units, especially weaker ones, are likely to face difficulties, said a senior executive of a private bank

Bank NPAs loans may drop to 5% by March 2023 on economic rebound: Crisil

May even touch decadal low of 4% by March 2024; MSMEs remain vulnerable with one-fourth of recast accounts likely to turn NPAs

MSMEs contribute 30% to India's GDP, to grow further: Narayan Rane

India's youth would be the flag bearer of the growth and hence need to be supported by better work opportunities, said Narayan Rane

Finance Minister Sitharaman nudges India Inc to clear unpaid dues of MSMEs

Nirmala Sitharaman said it is encouraging that larger companies are including amounts owed to MSMEs in annual statements

ONDC to soon open up for beta-testing for public in limited areas

Since April-end, ONDC has been testing with a closed user group for end-to-end execution.

Over 70% unorganised workers registered in year since e-Shram portal launch

National labour conference being held today to discuss providing social welfare schemes to card holders

10 mn apprenticeships in 10 yrs: What India needs to solve its unemployment

TeamLease and JustJobs Network report notes that instead of around 125,000 apprentices, CPSUs have only 41,250 on board

Re-examine financial sector architecture to build MSMEs better: Pronab Sen

According to Sen, the relationship between a bank and NBFC needs to be not of a borrower and a lender as it is today, but that of a partner

Central Bank inks pacts with Protium Finance, lncred Fin to offer loans

State-owned Central Bank of India has forged co-lending partnerships with Protium Finance and lncred Financial Services to offer loans to MSME borrowers. The partnerships will provide greater expansion of portfolio by the bank and to these players, the bank said on Friday. The state-owned lender said that Protium Finance will originate and process MSME proposals under the priority sector as per jointly formulated credit parameters and eligibility criteria and Central Bank of India will take into its books 80 per cent of the MSME priority sector loans under mutually agreed terms. "Protium Finance Limited will service the loan account throughout the life cycle of the loan. The co-lending arrangement is expected to help both the entities...as well as help expand reach across India," the bank said in a regulatory filing. Protium Finance has a branch network across 11 states and an AUM of 1,671 crore as of July 31, 2022, with a customer franchise at 1,08,447. Likewise, Incred Financial

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

UP: Yogi govt 2.0 to recast MSME policy to groom women entrepreneurs

To offer stamp duty, capital subsidy to attract investment under new MSME policy

Atmanirbhar toy industry: Modi hails fall in imports to cite self-reliance

Exports up 31% from $417.32 million in 2018-19 to $545.97 million in 2021-22

Private sector should invest in technology, boost R&D to help economy: CEA

Chief Economic Advisor V Anantha Nageswaran on Monday said the private sector needs to invest more in technology and research and development, and pay the MSME suppliers on time to help the economy. Stating that Indian economy cannot remain exempt from the global challenges but it remains resilient and is poised for a rebound as the banking system is better, inflationary issues are peaking out and ongoing recovery is healthy, the CEA said. It is to our credit so far that we have managed to keep the impact at more manageable levels so far. But it should require continuous vigilance, continuous action and discipline for policymakers, he said while speaking at a virtual meeting with the Calcutta Chamber of Commerce. Citing examples of several economies facing very high inflation, Nageswaran said India is in a relatively better position and the majority of its sectors are doing quite well despite market volatility and inflation. Nageswaran emphasised the need to focus on R&D and ...

MSMEs from Uttar Pradesh vying to list on domestic stock exchanges

While the firms are voluntarily jumping onto the listing bandwagon, the state government is also acting as a facilitator

After Covid setback, MSMEs owed Rs 10.7 trn in pending dues: Report

The share of micro and small enterprises stood at Rs 8.73 trillion, 80 per cent of the total pending amount

Yogi 2.0 to showcase MSME bandwidth at UP Global Investor Summit 2023

UP is setting its sights on Rs 10 trillion in fresh investment from domestic and multinational companies at the high-ticket event