Indian retailers and wholesalers will now come under MSME sector, says Nitin Gadkari
With this development, Indian retailers and wholesalers can now register on the Udyam Registration Portal, along with the small and medium businesses. They can also apply and avail various schemes and relief packages the Indian government has rolled out for the SMB sector.
MSME, retail NPAs may rise as relief measures get wound down
The Reserve Bank of India on Thursday cautioned that banks face the prospect of a rise in non-performing loans, particularly in their small and medium enterprises (SME) and retail portfolios, especially as regulatory relief is wound down.
World MSME Day: 5 Govt-Backed Loan Schemes for SMEs, MSEMs in India
The small-scale business sector, also known as Small and Medium Enterprises (SME) sector, contributes around 40% to the total GDP of India. This sector plays a vital role in increasing employment opportunities in India but faces tough competition from privately-funded businesses. Therefore, the Government of India (GoI) offers multiple loan schemes to finance these small-scale businesses. These loans can be used by the SMEs to fund their operations, purchase new equipment, expand their business, and etc.
Govt simplifies registration process for MSMEs
Govt has simplified the registration process for MSMEs and they will now only need to furnish PAN and AADHAR for registration,
Only PAN, Aadhaar required for MSME registration
The government has simplified the registration process for micro, small and medium enterprises (MSMEs) and they will now only need to furnish PAN and Aadhaar to register.
MSME body CIMSME to RBI’s Shaktikanta Das: Extend ECLGS 1.0 repayment period to 5 years post moratorium
MSME body Chamber of Indian Micro, Small & Medium Enterprises (CIMSME) in a letter the Reserve Bank of India Governor Shaktikanta Das has urged for extending the repayment period under the Emergency Credit Line Guarantee Scheme (ECLGS) 1.0 to five years from three years after the moratorium period.
MSME Udyam Portal: No Registration Fee for New Businesses, Other Key Rules
The Central government in July, last year, had launched a zero-cost MSME registration portal by the name – ‘Udyam Registration.’ According to the MSME ministry’s data, the portal has registered 31.56 lakh entities as of June 2, 2021.
MSME engineering exporters seek PM's intervention on rising steel prices
Engineering exporters in the MSME segment have sought Prime Minister Narendra Modi's intervention on rising steel prices, stating that the industry needs the alloy and other inputs at affordable rates so that export competitiveness of value-added products is maintained in the global markets.
Union Minister Nitin Gadkari Calls for Increasing MSMEs Share in GDP to 40%
Union minister Nitin Gadkari on Saturday stressed on increasing the share of the MSME sector in the country's GDP to 40 per cent from 30 per cent currently. Addressing a virtual event, Gadkari said the world is now favouring India instead of China.
How supply chain financing can resolve capital issues for MSMEs
As the second wave of Covid 19 pandemic continues its march across the country, businesses both big and small are beginning to experience disruptions to their operations as local governments impose restrictions on movement of people and goods across the country.
How RBI’s Resolution Framework 2.0 can help MSMEs tide over Covid mess; is Udyam registration required?
The Reserve Bank of India (RBI) in August last year during its second bi-monthly monetary meet had extended provisions of restructuring MSME loans classified as standard as of March 1, 2020.
59% of startups and MSMEs may shut shop, sell off or scale down: Survey
More than half of the existing startups and small companies could shut shops or sell off their companies by the end of the year due to Covid pandemic, a LocalCircles survey said.
MSMEs seek more time to repay emergency loans, call for ECLGS 3.0
An industry body representing micro, small and medium enterprises has written to the Reserve Bank of India seeking to defer payment of instalments of emergency loans availed under last year’s Covid-19 relief package, citing a severe second wave of the pandemic.
How these IIM Ahmedabad alumni launched a cloud-based neobank to empower 60M small businesses in India
Founded in 2019 by Ashish Deswal and Jeevan Gopisetty, Hyderabad-based Nemo is an easy, secure, cloud-based neobank for small businesses that unifies banking, accounting, credit, and operations.
Govt considering support measures for MSME sector
The government is considering several measures such as liquidity support, easier compliance norms and tax relief on online transactions for micro, small and medium enterprises (MSMEs) that are facing severe business disruptions due to the second wave of Covid-19 pandemic, two government officials aware of development said on condition of anonymity.
SIDBI launches loan products for MSMEs to bolster supply for COVID-19 fight
To help the Micro, Small and Medium Enterprises (MSMEs) with required financial support, SIDBI has lauched two loan products at concessional rate for ramping up supply of products used in fight against the COVID-19 pandemic.
DPIIT makes online complaints mandatory from July 1, launches portal for grievance redressal
According to a DPIIT memorandum, the stakeholders can lodge grievances for alleged violation of the order and the department can refer those to procuring entities/ministries/departments concerned through the portal on real-time basis for examination, necessary corrective action.
Big Make In India Push: Centre Invites Application For Phase 2 Of PLI Scheme For Large Scale Electronics Manufacturing
The Ministry of Electronics and Information Technology (MEITY) has invited applications for the second round of production linked incentive (PLI) scheme for large scale electronics manufacturing.
Vedanta launches ‘Saathi’ programme offering range of services for MSMEs
Mining firm Vedanta Limited, on Tuesday, launched the Vedanta Saathi programme for the MSME sector. The programme comes with a variety of offerings for the MSMEs such as an e-commerce portal,
Make In India: Italy launches Its Maiden Mega Food Park In India As Two Nations Deepen Bilateral Engagement
In a boost for Government's Make in India push for the food processing sector, Italy has launched its maiden mega food park in India as the two nations expand collaboration and engagement in a bid to deepen the bilateral ties,
Amazon announces $250 million fund for small, medium businesses in India
E-commerce giant Amazon on Thursday announced a USD 250 million (about Rs 1,873 crore) fund that will focus on digitising small and medium businesses, and driving innovation in the areas of agri-tech and health-tech in India.
Centre notifies framework for prepackaged insolvency resolution for MSMEs under IBC
The government has notified a framework for prepackaged insolvency resolution for micro, small and medium enterprises (MSMEs) through an ordinance on Sunday.