by on January 14, 2021
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by on December 21, 2020
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 December 21, 2020
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 December 21, 2020
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 December 14, 2020
A number of new business support models are available to small businesses providing a one-stop shop of support and facilitating their growth, according to a new study by ACCA (Association of Chartered Certified Accountants). India is home to the second largest ecosystem of start-ups in the world – with over 20,000 start-ups and growth rates of around 12 percent year-on-year. The country also boasts a number of innovative support programmes which has contributed to India’s flourishing SME comm...
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by on December 14, 2020
The MSME units in the foundry and engineering space are in a fix, caught between abnormal increases in the price of raw materials on the one hand and order enquiries coupled with labour shortage on the other. “The last three months have been terrible. The situation is worsening by the day; we are unable to schedule production,” say unit owners, urging immediate government intervention to bail them out of their present imbroglio. “Both the Centre and State should step in without further del...
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by on December 14, 2020
The Finance Ministry said ₹21,000 crores of MSME dues have been paid in past seven months since May 2020 by the Central government agencies and Central Public Sector Enterprises (CPSEs) NEW DELHI : The Finance Ministry on Thursday said ₹21,000 crores of MSME dues have been paid in past seven months since May 2020 by the Central government agencies and Central Public Sector Enterprises (CPSEs). "Over ₹21,000 crores of MSME dues have been paid in past 7 months since May 2020 by the Central g...
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