Page 38 - Msmes

Stride Ventures provides debt fund of Rs 15 cr in lending platform ZipLoan

Stride Ventures on Wednesday said it has provided a debt fund of Rs 15 crore to ZipLoan, a technology-enabled lending platform that provides loans to micro, small and medium enterprises (MSMEs). "This is Stride's first foray into fintech (financial technology) lending, and the amount will be disbursed in two tranches. The investment underlines the firm's commitment to leverage traditional banking capital to cater to the start-up ecosystem," according to a statement. ZipLoan caters to the need of working capital loans for kirana stores and micro industries. Its proprietary platform ZipScore, which tests credit worthiness of a borrower, has helped maintain non-performing assets at under 3 per cent, the statement said. "We are excited to partner with ZipLoan in their pursuit to revolutionise lending to small business owners. It is our endeavour at Stride to make credit accessible and efficient, as we try to prevent equity dilution and make entrepreneurs truly 'Aatmanirbhar'," Stride ..

MSMEs will take 7-8 months to recover from Covid-19 impact: D&B economist

Traditional sectors like food, drugs, pharmaceutical, ITes (IT-enabled services), banking, retail, automotive, real estate and jewellery are witnessing moderate to high to severe impact

Centre may allow cooperative banks to lend under Emergency Credit Line

Gadkari also said that the government aims to increase MSMEs' contribution to the GDP to 50 per cent and in share of exports to 60 per cent

Working on idea of land bank to help small businesses: Nitin Gadkari

The minister also said there was a need to think how India could increase exports and reduce import dependence

Rs 10,000 crore Fund of Funds scheme to help MSMEs with growth: SBI chief

The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues

MSMEs, industries must be made import-substitute for self-reliance: Gadkari

Says private sector should think more about tribals, villagers, farmers and other marginalised sections while talking about growth

Grofers announces 9-day sales scheme, Rs 50 cr support to local partners

The company aims to sell 9 crore items produced by its partners including 5.5 crore items that are produced locally, Grofers said in a statement

Private sector should think about marginalised section, says Gadkari

The private sector should think more about the marginalised sections while talking about growth, Union Minister of Micro, Small and Medium Enterprises (MSME), Nitin Gadkari said on Saturday.

Adityanath govt transfers online loans of Rs 2,447 cr to new MSME units

Yogi Adityanath said that his government was working with full dedication to explore all possibilities to realise 'self reliant India'

Gujarat's new industrial policy pegs average annual outlay of Rs 8000 cr

Gujarat CM Rupani said that the new policy has been formed to further consolidate the growth momentum that the state has achieved over the past few years as well as enhance the current growth rate

UP signs MoU with eBay to provide global marketing platform for MSMEs

Adityanath said his government was steadfastly working towards making the state self reliant and exploring all such possibilities

RBI gives Covid-hit MSMEs one more window for restructuring loans

Businesses that didn't slip into NPA till March 1, and were treated as 'standard' accounts will benefit from the scheme which will have to be implemented by March 1, 2021

Banks sanction Rs 1.38 trn loans to MSMEs under credit guarantee scheme

The scheme is the biggest fiscal component of the Rs 20-trillion Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May

Local demand to prop up crop protection SMEs: CRISIL SME Tracker

Exports, which account for 55 per cent of the pie, are likely to decline by 3 per cent due to lower demand from key importing nations such as the US, Brazil and France

Rating models for MSMEs need to be revisited amid Covid-19 crisis: Experts

The credit rating models for micro, small and medium enterprises should be revisited in the wake of the coronavirus crisis, financial experts said on Thursday.

SIDBI, TransUnion CIBIL launch financial knowledge platform for MSMEs

The portal will have a consolidated list of all the schemes launched by the Centre and state governments for MSMEs

Banks sanction Rs 1.3 trn loans to MSMEs under credit guarantee scheme

The scheme is the biggest fiscal component of the Rs 20-trillion Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May

India offers best destination for foreign investment in MSME, NBFC: Gadkari

Calling India as most favourable destination for foreign investment, Gadkari urged foreign investors to reap rich dividends by investing in the country's infrastructure, MSMEs, banks, NBFCs

India offers golden opportunity; best destination for investment: Gadkari

The minister said that economic consultants have predicted budget deficit of Rs 10 trillion and the foreign direct investment is the need of the hour for pumping in liquidity into the market

Banks sanction Rs 1.27 trn loans to MSMEs under credit guarantee scheme

However, disbursements against this stood at Rs 77,613 crore till July 20 under the 100 per cent ECLGS for micro, small and medium enterprises (MSMEs)