Page 20 - Msmes

MSME credit window zooms 80% to Rs 1.5 trillion in Uttar Pradesh

UP has India's largest base of 9 million MSMEs

Have taken regulatory action against 105 pharma companies: Health minister

Mandaviya said that after 137 firms were inspected, production has been stopped at 31 companies and the product licenses of 50 firms have been cancelled

G20 officials to meet at Kevadia for digitalisation of trade documents

Senior officials of G20 member countries will gather at Kevadia for three days from July 10 to build consensus on proposals, including digitalisation of trade documents, and an action plan to create meta information interface for MSMEs, an official statement said on Saturday. These proposals will be discussed at the third meeting of the Trade and Investment Working Group (TIWG). The meeting will be attended by more than 75 delegates from G20 member countries, invitee countries, regional groupings and international organisations. "The focus of the meeting would be to build consensus on accomplishing action-oriented proposals put forward by the Indian Presidency on global trade and investment-related issues, the commerce and industry ministry said. These proposals relate to developing high-level principles for digitalization of trade documents, action plan to create meta information interface for MSMEs, generic mapping framework for global value chains, G20 regulatory dialogue and ...

MSMEs are pivotal to Uttar Pradesh's economy, says Sharad S Chandak

State Bank of India has always recognised the importance of MSMEs in the growth of UP

World MSME Day 2023: Date, Theme, Celebration, Essential Facts about MSME

This celebration of World MSME Day is to create market opportunities in both domestic and global markets, promote regional development, reduce regional disparities

Stamp duty relief for women-led MSMEs; UP to facilitate loans of Rs 20k cr

Nearly a dozen agricultural and traditional products are likely to be awarded the Geographical Indication (GI) certificate soon

MSMEs to face headwinds due to economic slowdown in US, Europe: CRISIL

A fifth of the MSME sector by value is expected to witness an increase in working capital requirement this fiscal, the report said

India seeks carve out for MSMEs from European Union's carbon tax

The CBAM's transition-phase will kick in from October, followed by levying of carbon tax from January 2026

India seeks exemptions from EU's carbon tax for MSMEs: Commerce Secy

India has sought exemption for its MSMEs from the European Union's carbon tax, which would kick in from October this year, as the levy would impact the domestic industry in certain sectors, Commerce Secretary Sunil Barthwal said on Thursday. The EU is introducing the Carbon Border Adjustment Mechanism (CBAM) from October 1 this year. According to a report of the think-tank GTRI, CBAM would translate into a 20-35 per cent tax on select imports into the EU starting January 1, 2026. From October, domestic companies from seven carbon-intensive sectors -- including steel, cement, fertiliser, aluminium and hydrocarbon products -- will have to seek compliance certificates from the EU authorities to comply with the CBAM norms. The secretary said that they held a stakeholders' consultations meeting on the issue last month and discussed the preparedness of the industry for CBAM compliance. The compliance is in two parts - a requirement of filing data from October and later imposition of the

Fintech firm Indifi raises Rs 290 cr in funding round by ICICI Venture

Company plans to expand its operations and expand small businesses' access to working capital finance

Sidbi signs MoU with HDFC Bank to offer financial solutions to MSMEs

State-owned Small Industries Development Bank of India (SIDBI) has entered into a Memorandum of Understanding (MoU) with HDFC Bank for providing financial solutions to MSMEs. Under the MoU, SIDBI and HDFC Bank will work together to provide complete financial product and services to the customers under Micro, Small and Medium Enterprises (MSMEs). The MoU will facilitate providing complete financial solutions to MSMEs in a seamless manner. This arrangement will enable MSMEs to avail financial products and services of both the banks. Both banks will endeavour to bring more MSMEs in financial ecosystems through the arrangement.

Allow MSMEs to pay liabilities in tranches: Exporters urge Centre

The scheme was announced by DGFT in the Foreign Trade Policy (FTP) on March 31 and is set to benefit 2,500-3,000 exporters

Crisil SME tracker: Inflation to hurt MSME growth in electronics sector

But growth will still be healthy as discounts and lower retail prices will cushion the fall

Most digitally adept MSME retail owners between 18-30 yrs of age: Report

Under the first edition of PayNearby's 'MSME Digital Index 2023', the report showcased the consumption of technology by MSMEs at the last mile

Disposal of delayed payment cases by micro, small industries at 5-year low

The government in the Budget announced that buyers would be allowed to claim a tax deduction for payments made to MSMEs only after they make a payment to them

State-owned steel firms clear Rs 7,673.95-cr dues to MSMEs in FY23: Govt

Government-owned steel companies have cleared Rs 7,673.95 crore dues of various MSMEs during FY23, 39.3 per cent higher than Rs 5,511.07 crore paid during the preceding fiscal, the steel ministry said. "The status of pending payments to MSMEs by CPSEs (Central Public Sector Enterprises) of the ministry is being monitored on a weekly basis to ensure payments to them within the 45 days' time limit for such payments," it said. A payment of Rs 876.10 crore was made by steel CPSEs to Micro, Small & Medium Enterprises (MSMEs) during March 2023, up 38.1 per cent year-on-year (y-o-y) and 23.1 per cent higher than the previous month, the ministry said. During the entire financial year 2022-23, steel CPSEs have made a payment of Rs 7,673.95 crore to MSMEs, which is 39.3 per cent higher than Rs 5,511.07 crore payment made during FY 2021-22. CPSEs under the administrative control of the steel ministry include SAIL, NMDC, RINL, KIOCL, MOIL, MECON, MSTC and its subsidiary FSNL.

Godrej Capital aims to double its loan book to Rs 12,000 cr in FY24

Eyes a size of Rs 50,000 cr in five years; plans to infuse Rs 1,200 cr capital in current fiscal

Payments firm Worldline and SignCatch to partner for merchant digitisation

Programme will help small business owners to digitise operations and set up online presence

More than 408.2 mn loans amounting to Rs 23.2 trn sanctioned under PMMY

PMMY aims to facilitate easy collateral-free credit of up to Rs 10 lakh to micro-entrepreneurs for income-generating activities

PhonePe launches shopping app for ONDC, marking e-commerce entry

Pincode will connect consumers to small merchants and neighbourhood stores, says fintech firm