Page 7 - Msmes

Cabinet meet to include works contract under Govt e-Marketplace soon

Sahay initiative will enable small businesses on the portal get loans instantly against orders

Instamojo aims to enable e-commerce for 100,000 D2C brands by year-end

Instamojo raised its series B funding from Gunosy Capital, AnyPay-a Japanese payments firm and the existing VCs earlier this year

Small industries seek moratorium for another year amid Covid crisis

The industries have been under complete lockdown

Edelweiss boosts co-lending partnership with Central Bank of India for MSME

Edelweiss Retail Finance Ltd announced strengthening of its co-lending partnership with Central Bank of India for priority sector lending to micro, small and medium enterprises

Credit to MSMEs, agriculture rises; personal loans register 12.6% growth

Credit growth to agriculture and allied activities accelerated 11.3%, compared with 4.7% the previous year

Covid-19: Banks begin process of restructuring of loans up to Rs 25 cr

To provide support to small businesses hit by the second coronavirus wave, banks have initiated the process of restructuring of loans up to Rs 25 crore in line with the COVID-19 relief measures announced by the Reserve Bank earlier this month. Many lending institutions have got board approval for the resolution framework and eligible borrowers are being contacted. For example, the Bank of India has sent messages to its eligible customers to submit their willingness to debt recast online. "In these trying times, we offer you a helping hand by extending relief as per RBI Resolution Framework 2.0 dated May 5th, 2021. If you are under financial stress caused by the COVID Second Wave, you may opt for restructuring of your account," the message said. Meanwhile, another public sector lender Punjab & Sind Bank said its debt recast plan as specified by the RBI has been approved by the board. "We will be reaching out to our customers including through BCs...we will get a fair idea about ..

Covid-19 impact: Many startups, MSMEs stare at closure, says survey

Startups and MSMEs have been in the race for survival, especially since the onset of the Covid-19 outbreak in 2020

Tamil Nadu MSMEs appeal to govt for support to overcome Covid led crisis

The association of Micro, Small and Medium Enterprises (MSME) units across Tamil Nadu have written to the state and central governments for assistance and support to overcome the crisis

MSME needs 'concentrated, right kind' of relief package: Assocham

Industry body Assocham has demanded from the government a 'concentrated and right kind' of relief package for MSME sector, which was most affected by covid-19 pandemic

Centre considers a revamp of stressed asset guarantee scheme for MSMEs

As of May 14, guarantees of only Rs 68.39 crore had been issued, benefiting 632 businesses, a senior government official told Business Standard

Govt ready for another cut in import duty on steel to tame prices

The government has proposed to slash import duties on steel items further bringing it to zero or near-zero levels to provide relief to MSMEs

Relief to only postpone financial stress from India's Covid surge: Fitch

There are growing indications that India's latest wave of Covid-19 infections will add to risks among financial institutions by sapping near-term momentum from the economic recovery

Former Irdai chairman asks insurers to concentrate on prevention of risk

In the first two quarters after the onset of the Covid-19 pandemic, the insurance industry suffered negative growth. But, it bounced back as soon as the economy opened up post the lockdown

Banks want RBI to relax NPA norms for lockdown-stressed MSME sector

Bankers request extension of NPA classification norms to 180 days from 90 days currently

Flipkart to pay 100% premium towards Covid-19 insurance for all its sellers

The offer holds for policies between Rs 50,000 and Rs 3 lakh; exempted storage fees for MSME partners

RBI's relief: Hit by second Covid wave, MSMEs call for more support

According to them, measures such as revisiting classification of bad loans and clearing pending dues from government agencies are also required

IndiaMART hits over 3-month low; slips 18% in 3 days post Q4 results

The stock has corrected 27 per cent from its all-time high level of Rs 9,952 touched on February 5

Units in chemicals sector set for rebound in revenue: CRISIL SME Tracker

Growth mainly on account of recovery in domestic demand and higher realisation due to a rise in the prices of chemicals

NBFCs seek extension of MSME restructuring scheme till March 2022

NBFCs have requested the Reserve Bank to extend the one-time restructuring scheme of MSME advances till March 31, 2022, as these players are unable to revive their businesses

Scope for Indian MSMEs as countries look beyond China for supplies: Gadkari

Minister says e-commerce players such as Amazon should continue to focus on capacity-building, tech will be a key factor in defining competitiveness of Indian MSMEs at home and globally