BUSINESS
Experts, industry bodies welcome pre-packed insolvency resolution process for MSMEs
The government had on April 4 amended the insolvency law by bringing in an ordinance that provides for a pre-packaged resolution process for micro, small and medium enterprises
BUSINESS
Govt restrictions to further weaken mobility to retail and recreation spaces: CRISIL
The ratings agency further said that between March 29- April 4, the daily cases shot up by 52 percent from 68,000 to over 1 lakh.
BUSINESS
Delayed-payment applications disposed of by States’ MSEFCs rise 152%
The number of delayed-payment applications rejected by the Micro and Small Enterprise Facilitation Councils jumped 102 percent during the same time period
BUSINESS
Labour Ministry sets up panels to review the existing rules under the OSH&WC code
The constituted committees will review the existing rules and regulations on safety, health and working conditions standards, pertaining to factories, docks and construction work.
BUSINESS
Explained | Everything you wanted to know about Emergency Credit Line Guarantee Scheme
The ECLGS aims to provide 100 percent guaranteed coverage to the banks, NBFCs and other lenders in order to enable them to extend emergency credit to businesses hit by the Covid-19 pandemic and struggling to meet their working capital requirements.
BUSINESS
MSME Sambandh: Government surpasses procurement target in FY21; five ministries beat the 25 percent target for financial year
Despite bettering the objective, the annual acquisition from SC/ST and women entrepreneurs, earmarked at 4 percent and 3 percent respectively, has continued to miss the target for the third consecutive financial year
BUSINESS
Implementation of labour codes deferred beyond April 1 : Report
Twenty nine central labour laws governing occupational safety, minimum wages, and social security have been consolidated into four codes
BUSINESS
About 76.31 lakh MSMEs face uncertainty as existing registration system ends
Salunkhe clarified that the MSMEs which have not registered under Udyam will not lose the status of being an MSME if they fit under the new definition as given by the government, but will not be able to avail the benefits.
BUSINESS
MC Exclusive | Latest MCA accounting norms face backlash from businesses as compliance burden to go up
Tax experts have said the move will bring transparency, credibility and reliability on accounting software, reduce overall uncertainty about data entries and improve investor’s and shareholder’s confidence. But with only a week to put in place the changes, small companies will face difficulty in complying with the norms.
BUSINESS
HDFC, PNB, SBI among top banks to make it to TRAI's list of defaulters over new SMS regulations
TRAI has asked operators to fully implement the new SMS rules from April 1 and has directed them to block messages from companies and telemarketers that are yet to comply with the norms.
BUSINESS
MGNREGA: 60.80 lakh households completed 100 days of work, highest since 2011-12
The spike in employment under MGNREGA under the current year is widely attributed to the migration of the workers from the urban to the rural areas as a result of the COVID-19-induced lockdown that was announced in March 2020.
INDIA
GSDP numbers might undergo revision: SBI group chief economic advisor
Report by Soumya Kanti Ghosh says GDP figures of states might see a 7 percent reduction, if the numbers follow the MOSPI estimates for overall GDP. The report found a significant gap between the estimates and revised estimates for FY21 given by some states.
BUSINESS
TRAI urges banks, telemarketers to comply with regulations to check unsolicited SMS
The regulatory provisions not only help in preventing spam but also help in preventing fraudulent messages purporting to originate from banks, financial institutions, or other trusted sources.
BUSINESS
Credit guarantee fund trust approves 6.19 lakh loan applications from small businesses in FY21
CGTMSE is a trust which provides collateral-free loans to MSMEs. It provides a guarantee to the lending institutions up to a certain limit for all lending done by them to the enterprises in the MSME sector.
BUSINESS
EPFO: Net new enrollments rise by 24% to 13.36 lakh in January
Industry-wise analysis indicates that the ‘expert services’ category continues to be the best performer with 5.65 lakh net payroll addition during January 2021
BUSINESS
CNBC-TV18 India Business Leaders Awards 2021: Uday Kotak named Outstanding Business Leader of the Year
Late former president Pranab Mukherjee was posthumously bestowed with the Hall of Fame Award, which was received by his daughter Sharmishtha Mukherjee.
BUSINESS
After a gap of 15 months, Vodafone Idea gains wireless customers in January 2021
Rival telcos Bharti Airtel and Reliance Jio added 5.9 million and 2 million wireless subscribers, respectively during the month.
BUSINESS
Placements under National Urban Livelihoods Mission drop 90 percent in FY21
Only 7,141 people found gainful employment in the urban areas in FY21 as of December 31, 2020, as compared to 71,503 persons in FY20.
BUSINESS
Railtel bets big on PM WANI, becomes a PDOA under public Wi-Fi scheme
As a public data office aggregator, the state entity will extend Internet and other backend IT infra support like captive portal, charging and billing, among other services
BUSINESS
Amendment to telecom equipment procurement rules may lead to increase in capex, tariff hike
The DoT on March 10 amended the Unified Access Service Licence, thereby mandating the use of equipment only from trusted sources from June 15, 2021.
BUSINESS
TRAI seeks suggestions on satellite service norms for apps with low data consumption
Low bit-rate applications are mostly the sensor-based applications used in ATMs, IoT devices, traffic management, vehicle tracking, security alarms, among other things.
BUSINESS
Employers to constitute a negotiating council if no union enjoys majority support
The labour codes also recognise and formalise the concept of fixed-term employment wherein the employers across sectors can now engage workers for shorter and fixed duration.
INDIA
ESIC joins hands with Ayushman Bharat PM-JAY
The convergence of ESI Scheme with Ayushman Bharat PM-JAY will be in 113 districts of four states, namely - Chhattisgarh, Karnataka, Madhya Pradesh, and Maharashtra.
BUSINESS
5G spectrum auction unlikely in FY22, say experts
In the recently concluded spectrum auction, both Jio as well as Airtel have invested large amounts and have increased their 4G coverage as well as capacity spectrum holdings. Over the next few months thye are likely to focus on putting this spectrum to use, say experts.
