Page 24 - Msmes

NPAs in retail and MSMEs rise to 7.3% for public sector banks in Q1

The incidence of bad loans was lower for private banks with GNPAs at 3.32 per cent in June, up from 2.01 per cent year ago, according to CARE Ratings

India's digital infra invites global interest: Infosys's Nandan Nilekani

Open digital ecosystems will unlock opportunities worth $700 billion for India by 2030, across sectors like healthcare, agriculture, MSME education, urban governance, as per a report by ONI and BCG

Banks recast loans worth Rs 35,000 crore under RBI's second scheme

Retail and loans to micro, small and medium enterprises have the largest share in the two schemes combined

Kerala will be a destination for responsible investment: Minister P Rajeeve

Kerala's industries minister P Rajeeve talks about the state's industrial roadmap while raising doubts on the Ease of Doing Business rankings by the Centre

Flipkart, IIM Sambalpur to partner to support small businesses and artisans

Flipkart executives will actively participate in this program by sharing operational know-how, market, and consumer insights

64% MSMEs and startups saw online sales grow over past one year: Survey

28% saw their sales grow by 100-500%, while another 23% saw a 50-100% spike in sales

MSMEs saw 11% dip in business due to lockdowns in 2021, says report

Interestingly, MSMEs going digital have increased. Use of in-app features per user has risen 72% over last year in a sign that MSMEs have started utilising full functionality of digital solutions

Factoring Regulation Bill to open more credit facilities for MSMEs: FM

The amendments approved by Rajya Sabha Thursday will give an impetus to the economy by providing an efficient working capital cycle for MSMEs, Sitharaman said.

Explained: How push for factoring could benefit the MSME sector

In simple terms, factoring is acquiring bills receivables from MSMEs and releasing money, or giving short-term loans, against these bills to the MSMEs

MSME credit demand in June back to level before pandemic, says CIBIL

High credit growth was helped by government's lending scheme and it masks asset quality pain: Agency

India needs more to convince banks, NBFCs to lend to MSMEs: AIIB economist

The Indian government needs to take more steps to encourage banks and NBFCs to lend more to MSMEs, according to Asian Infrastructure Investment Bank (AIIB) Senior Economist Abhijit Sengupta.

MSME NPAs increase to 12.6% in March 2021 quarter, says report

An analysis showed a significant surge in credit demand post unlocks after the first and second wave of the pandemic

MSME credit demand surges as markets reopen in June: Report

In March 2021, commercial credit enquiries were at 32 per cent over pre-Covid-19 levels.

Govt introduces a Bill in the Lok Sabha to amend insolvency law

The government on Monday introduced a bill in the Lok Sabha to amend the insolvency law and provide for a pre-packaged resolution process for stressed MSMEs. The proposed amendments would enable the government to notify the threshold of a default not exceeding Rs 1 crore for initiation of pre-packaged resolution process. The government has already prescribed the threshold of Rs 10 lakh for this purpose. The Insolvency and Bankruptcy Code (Amendment) Bill, 2021 -- which was introduced by Corporate and Finance Minister Nirmala Sitharaman -- will replace the ordinance that was promulgated on April 4 as part of efforts to provide relief for MSMEs adversely impacted by the pandemic. The bill, which was introduced in the Lower House amid Opposition din over various issues, seeks to have a new chapter in the Code to facilitate pre-packaged insolvency resolution process for corporate persons that are Micro, Small and Medium Enterprises (MSMEs). Generally, under a pre-packaged process, main

Tax data shows how Covid-19 crushed small companies while big ones made hay

Listed firms paid Rs 35,000 cr more tax this year, even as corporate tax mop up fell by Rs 1 trn. Pvt ltd firms and the non-corporate sector paid Rs 1.35 trn less, which means their profits dived

Centre plans big boost for MSMEs with an inter-ministry data bank

This could help form better schemes

Rising fuel prices further dent stressed sectors of India's economy

Central and state governments have hiked taxes on fuels, pushing retail fuel prices to record highs in most of the country.

Non-bank financial entities' restructured loans to rise 3.3% by March: ICRA

Covid-19 and lockdowns to slow down its spread have affected the cash flow of borrowers, says agency

Amazon launches Digital Kendra to empower Indian businesses with e-commerce

It will help MSMEs recover their businesses from the recent challenges, bring benefits of e-commerce and help them reach customers in India and globally.

KTR writes to Sitharaman, seeks Centre's support for MSMEs in Telangana

Telangana IT and Industries Minister KT Rama Rao wrote to Union Finance Minister Nirmala Sitharaman, seeking support for the Micro, Small and Medium Enterprises in the state amid the pandemic