by on 21.12.20
A majority of industries and businesses are now inching towards pre-COVID-19 levels, MSMEs have also started charting their path for recovery, Invoicemart said in a release. The lockdown has increased technological literacy and given a push to digital adoption among the micro, small and medium enterprises (MSMEs). Supported by their strong tie-up with over 760 anchor corporates, CPSE, PSUs, banks and NBFC factors, Invoicemart has already guided over 6,900 MSME vendors to register on TReDS ...
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by on 21.12.20
The Indian government announced a special scheme for micro, small and medium enterprises, allowing them to get business and MSME loans within 59 minutes. Applicants can get loans ranging from ₹1 lakh to ₹10 crore, and in-principle approvals are sent within 59 minutes. The Small Industries Development Bank of India (SIDBI) has set up a fintech platform called PSB Loans in 59 Minutes, in partnership with five other public sector banks, namely the State Bank of India, Bank of Baroda, Punjab Nati...
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by on 21.12.20
Referring to statements made by Union Home Minister Amit Shah during a press conference in Birbhum on Sunday, CM Banerjee said, "Amit Shah has spoken garbage of lies yesterday. He claimed our state is 'zero' in industry but we are number one in the MSME sector. He claimed we could not build rural roads but we are number one in that. This is Government of India's information." Taking aim at the saffron party ahead of the 2021 West Bengal Assembly elections, Mamata Banerjee went on to say, "BJP...
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by on 16.12.20
 Finance Minister Nirmala Sitharaman said a total 5.53 lakh MSME accounts have been identified and out of which 5.28 lakh entities have been restructured and the process will be done by March 15. "So far, a total of 5.53 lakh MSME accounts have been identified and out of which 5.28 lakh entities have been restructured... By March 15, every MSME request must be cleared. Banks have given us information on how many MSMEs restructured reached out, their loans and everything. Few MSMEs that are pe...
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by on 14.12.20
Export-Import Bank of India (Exim Bank) and Small Industries Development Bank of India (SIDBI) plan to jointly set up an Alternative Investment Fund (AIF) to provide equity and loan support to small and medium enterprises (SMEs), which could emerge as rising stars in the export firmament. The AIF is being floated to give effect to a scheme, announced in FY21 Union Budget, to be jointly anchored by the aforementioned government-owned financial institutions to extend support to SMEs in sectors ...
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