Msme

Bandhan Bank to increase exposure to secured loans to MSME: MD & CEO

Bandhan Bank will gradually increase its exposure to secured loans by enhancing advances to the housing and MSME sectors, its Managing Director and CEO Chandra Shekhar Ghosh said.

State Bank of India looks to offload retail, SME NPAs via portfolio sale

The realisation expected for non-NARCL sales is 35-40 per cent, a senior SBI executive said.

Centre decides to lift price capping on raw jute with effect from Friday

It is expected that the cap removal Rs 6,500 per quintal will help the farmers, mills and jute MSME sector

Top Headlines: Wheat export push, CBDT's ITR guidelines, and more

Here are the top Business Standard headlines on Friday

PM Modi to launch Madhya Pradesh govt's new startup policy on May 13

A host of incentives will be given to eligible early stage companies under the Madhya Pradesh government's Startup Policy and Implementation Plan-2022, an official said

Cost accountants' body asks govt to allow members to carry audits of MSMEs

The institute has asked the government to allow its members to do various activities, including the tax audit under the Income Tax Act, 1961

Khadi and Village Industries Commission clocks Rs 1.15 tn turnover in FY22

Last fiscal year, the overall turnover of KVIC stood at Rs 1,15,415.22 crore as compared to Rs 95,741.74 crore in 2020-21. KVIC has thus registered a growth of 20.54 per cent from 2020-21

Cabinet hikes dearness allowance for central govt employees by 3%

The move will benefit about 4.8 million central government employees and 6.9 million pensioners and will be effective from January 1, 2022.

Odisha gets Rs 837 cr Sidbi loan to develop MSME clusters

Small Industries Development Bank of India (Sidbi) has sanctioned a Rs 837-crore support under its cluster development fund scheme to Odisha to help develop 18 MSME infrastructure projects. The funding from the nation's principal financial institution for micro, small and medium enterprises will be to the Odisha Industrial Infrastructure Development Corporation, which is the implementing agency. The projects include development of five new MSME parks, construction of 11 workers hostels and two projects to support MSME infrastructure. Under its cluster development fund scheme, Sidbi extends moderately priced loan assistances to the states for upgrading various existing MSME clusters as also to create new industrial infrastructure. Sidbi chairman Sivasubramanian Ramann said the focus will be on clusters in sectors/sub-sectors which can directly benefit the MSMEs and to bring them to a next level wherein they emerge vibrant by moving higher on the value chain and remain sustainable.

Raising capital the biggest challenge for women-led MSMEs in India: Indifi

The survey discovered that securing capital remains the biggest challenge

Multinational e-commerce players violating FDI rules, alleges CAIT

Few multinational e-commerce entities with heavy arsenal of funding operating in India have attempted to flout the FDI norms, said CAIT.

Union Budget has outlined steps to boost MSMEs: Dalit trade body

Under the AYE League, business ideas have been invited online till February 15 and they will be scrutinised by experts from eight IITs and two IIMs, he said.

MSME sector group hails budget; another trade body dismayed over tax sops

A leading organisation representing MSMEs praised the Union Budget for 2022-23, saying its proposals are based on "long-term thinking"

Budget 2022: Govt extends ECLGS till Mar 2023; includes hospitality sector

Total guarantee cover expanded to Rs 5 trillion

MSMEs have manufacturing cost advantage in global value chain: Official

There is tremendous potential for Indian MSMEs to be integrated into the global value chain due to their manufacturing cost advantage, and to achieve high growth, MSME Secretary B.B. Swain said

Budget 2022: MSMEs may get credit guarantee, better deal in IBC cases

Banks and MSME industry representatives have sought support for the sector in the line of ECLGS, a measure introduced early in the pandemic

Gadkari calls for attracting more foreign investments into MSME sector

He was speaking at a virtual international conference organised by the chartered accountants' apex body ICAI

Budget 2022: MSMEs may get credit guarantee, better deal in IBC cases

Banks and MSME industry representatives have sought support for the sector in the line of ECLGS, a measure introduced early in the pandemic

Spike in Covid cases may impact banking system's restructured book: Icra

Demand for recast may also go up for loans previously restructured; RBI warns of drop in bank's asset quality but reassures that they are strong enough to withstand huge shocks

MSME credit guarantee scheme saved 1.35 mn firms, 15 mn jobs: Report

ECLGS launched by the government in 2020 to provide relief to MSMEs impacted by Covid-19 pandemic has saved 13.5 lakh firms from going bankrupt and consequently 1.5 crore jobs, claimed a report.