Page 17 - Msmes
PSBs disburse Rs 16,031 cr loan to MSMEs under emergency credit scheme
On May 21, the Cabinet had approved additional funding of up to Rs 3 trillion at a concessional rate of 9.25 per cent through ECLGS for the MSME sector
 "PSBs disburse Rs 16,031 cr loan to MSMEs under emergency credit scheme")
Top headlines: Tata Motors scouting for partner, no lockdown in Delhi
From Sebi to discuss Franklin move to wind-up business, Airtel Payments Bank rolling out accounts for MSMEs to IndiGo confident of working at 50% capacity, here are the top headlines of the day
 "Top headlines: Tata Motors scouting for partner, no lockdown in Delhi")
Banking system is in a Catch-22 situation: Indian Bank's Padmaja Chunduru
Indian Bank has 450,000 MSME customers who are eligible for loans guaranteed by the government.
 "Banking system is in a Catch-22 situation: Indian Bank's Padmaja Chunduru")
Widen MSME scheme ambit: Private lenders to FM Nirmala Sitharaman
Govt likely to issue clarification to add more borrowers under ECLGS
 "Widen MSME scheme ambit: Private lenders to FM Nirmala Sitharaman")
Covid-19 impact: Snack industry may be served revenue loss of Rs 35,000 cr
Sweets and namkeen (snacks) manufacturers have reduced the production capacity due to the shortage of labourers in the midst of a slowdown and health concerns
 "Covid-19 impact: Snack industry may be served revenue loss of Rs 35,000 cr")
GDP contraction poses threat to MSMEs, govt support of little help: Report
The contraction may also lead to a 15% fall in corporate India's revenues
 "GDP contraction poses threat to MSMEs, govt support of little help: Report")
Bharti Axa General Insurance premium income up 38% to Rs 3,157 cr in FY20
Commercial lines segment focused on SME and MSME to grow by 49% at Rs 430 crore in the year ended March 31 against Rs 289 crore in the corresponding fiscal a year earlier
 "Bharti Axa General Insurance premium income up 38% to Rs 3,157 cr in FY20")
Covid-19 impact: 42% start-ups, small biz out of funds or in shutdown stage
Only 16 per cent of start-ups and SMEs have the cash to survive for more than three months
 "Covid-19 impact: 42% start-ups, small biz out of funds or in shutdown stage")
Walmart hand-holds small Indian firms reinventing themselves amid pandemic
As the Coronavirus outbreak hits small enterprises, many of them are pivoting businesses to tap new opportunities in the post-Covid-19 world
 "Walmart hand-holds small Indian firms reinventing themselves amid pandemic")
PSBs disburse Rs 14,691 cr to MSMEs under credit guarantee scheme
Public sector banks (PSBs) have sanctioned loans worth Rs 29,490.81 crore under the 100 per cent ECLGS for the Micro, Small & Medium Enterprises (MSME) sector starting June 1
 "PSBs disburse Rs 14,691 cr to MSMEs under credit guarantee scheme")
Dues of Central, state govts much higher than official estimates: MSMEs
Claim outstanding amount at Rs 2-3 trillion; SAMADHAN hasn't helped much
 "Dues of Central, state govts much higher than official estimates: MSMEs")
FM holds review meeting on Rs 3 trillion credit guarantee scheme for MSMEs
The scheme is the biggest fiscal component of the Rs 20-million Self-Reliant India Mission package announced by Sitharaman last month
 "FM holds review meeting on Rs 3 trillion credit guarantee scheme for MSMEs")
Home furnishing units will recover faster than garments: CRISIL SME Tracker
While demand for the home furnishings segment (SME share is 70-80 per cent of Rs 700 billion) is expected to decline as well, we expect the segment to pick up sooner than garments
 "Home furnishing units will recover faster than garments: CRISIL SME Tracker")
Maxim of the fish: New MSME norms may not be a blessing for small business
Enhancing the investment and turnover limits for MSMEs was overdue, but the smaller units will have serious reservations
 "Maxim of the fish: New MSME norms may not be a blessing for small business")
PSBs disburse half of the sanctioned credit guarantee scheme loans
State Bank of India contributed to 75% of the total loan disbursements of Rs 8,320 crore till June 5
 "PSBs disburse half of the sanctioned credit guarantee scheme loans")
Policies should be set keeping in mind everyone is in trouble, says Gadkari
By removing the export turnover, these units will export more and the country will benefit. This will also boost employment, Nitin Gadkari said
 "Policies should be set keeping in mind everyone is in trouble, says Gadkari")
Firms rush to register as MSMEs, but most may not get loans: Officials
The government had last month announced loans worth Rs 3 trillion for an estimated 4.5 million MSMEs that are facing a liquidity crunch since last year
 "Firms rush to register as MSMEs, but most may not get loans: Officials")
Unlock 1.0: UP targets to create 10 mn jobs for migrants, says Chief Secy
Adityanath issued directives to speed up big-ticket projects, including expressways, roads, canals, medical colleges, universities etc to employ migrants and other workers
 "Unlock 1.0: UP targets to create 10 mn jobs for migrants, says Chief Secy")
PSBs disburse Rs 8,320 cr loan to MSMEs under emergency credit scheme
On May 21, the Cabinet had approved additional funding of up to Rs 3 trillion at a concessional rate of 9.25 per cent through ECLGS for the MSME sector
 "PSBs disburse Rs 8,320 cr loan to MSMEs under emergency credit scheme")
Why most businesses, startups trying to register as MSMEs may not get loans
The government had last month announced loans worth Rs 3 trillion for an estimated 4.5 million MSMEs that are facing a liquidity crunch since last year
 "Why most businesses, startups trying to register as MSMEs may not get loans")
