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  • Government unlikely to extend credit guarantee scheme for MSME sector beyond October Oct 18, 2020 04:55 PM IST

    Government unlikely to extend credit guarantee scheme for MSME sector beyond October

    Sources said the objective is to provide support to all those affected and if there are no takers for the scheme, there is no need to extend the scheme even though there is some room left.

  • Govt implements artificial intelligence, machine learning tools on 'Champions' portal for MSMEs Oct 14, 2020 09:16 PM IST

    Govt implements artificial intelligence, machine learning tools on 'Champions' portal for MSMEs

    The Champions system was launched by Prime Minister Narendra Modi on June 1, 2020. The multi-modal system has a portal at virtual level and technology equipped physical control rooms at around 69 locations of the country.

  • Interest subvention on MSME loans extended until end of March 2021: RBI Oct 07, 2020 09:07 PM IST

    Interest subvention on MSME loans extended until end of March 2021: RBI

    The coverage of the scheme is limited to all term loans and working capital to the extent of Rs 100 lakh. The scheme provides for an interest relief of two percent per annum to eligible MSMEs.

  • FM Nirmala Sitharaman launches Indian Bank's business mentoring programme for MSMEs Oct 06, 2020 09:44 PM IST

    FM Nirmala Sitharaman launches Indian Bank's business mentoring programme for MSMEs

    Financial Services Secretary Debashish Panda, who also participated in the launch event through video conferencing, delved on the various initiatives taken by the government to support MSMEs.

  • Sustained COVID-19 spread poses risks to growth: Finance Ministry Oct 04, 2020 02:17 PM IST

    Sustained COVID-19 spread poses risks to growth: Finance Ministry

    India seems to have crossed the peak in COVID-19 cases, as per available data, the Finance Ministry's Monthly Economic Report for September said.

  • Mr Market awaits another round of stimulus from govt; can it lead to a roaring rally? Sep 29, 2020 10:28 AM IST

    Mr Market awaits another round of stimulus from govt; can it lead to a roaring rally?

    Sensex and Nifty50 have already rallied by over 50 percent each from the March lows, but a roaring rally post the stimulus measure, if any, is unlikely, say experts.

  • Banks sanction loans worth Rs 1.77 lakh crore to 44 lakh MSMEs under credit guarantee plan Sep 24, 2020 09:21 PM IST

    Banks sanction loans worth Rs 1.77 lakh crore to 44 lakh MSMEs under credit guarantee plan

    The latest numbers on ECLGS, as released by the Finance Ministry, comprise disbursements by all 12 public sector banks (PSBs), 24 private sector banks and 31 non-banking financial companies (NBFCs).

  • MSMEs go local, focus on value-for-money Aug 24, 2020 05:46 PM IST

    MSMEs go local, focus on value-for-money

    As against an Amazon Web Services (AWS) or Google, companies have been turning to relatively smaller players for the service and pricing value they bring to the table

  • Rajasthan govt to join hands with SIDBI to support MSMEs Aug 10, 2020 08:41 PM IST

    Rajasthan govt to join hands with SIDBI to support MSMEs

    The objective is aimed at achieving a vibrant and synergised MSME (Micro, Small & Medium Enterprises) ecosystem in the state.

  • Government widens ambit of Rs 3 lakh cr MSME credit guarantee scheme Aug 01, 2020 05:57 PM IST

    Government widens ambit of Rs 3 lakh cr MSME credit guarantee scheme

    "We have also decided to cover individual loans given to doctors, chartered accountants for business purposes under the scheme," Financial Services Secretary Debasish Panda said.

  • Government finalising special insolvency resolution under IBC for MSMEs Jul 13, 2020 10:04 AM IST

    Government finalising special insolvency resolution under IBC for MSMEs

    The threshold of default under Section 4 of the IBC has been raised to Rs 1 crore from existing Rs 1 lakh.

  • Join Small Business Virtual Summit 2020 in collaboration with CISCO Jul 07, 2020 01:20 PM IST

    Join Small Business Virtual Summit 2020 in collaboration with CISCO

    Digital transformation is the key for MSMEs — not just to build business resilience and cope with the new reality, but also to develop a robust infrastructure to become future-ready.

  • A month of Rs 3 lakh crore MSME loan scheme: Sanctions are high but disbursals remain low; here's why Jun 29, 2020 10:50 AM IST

    A month of Rs 3 lakh crore MSME loan scheme: Sanctions are high but disbursals remain low; here's why

    A closer look at the emergency credit line guarantee scheme (ECLGS) numbers show, even though banks have been aggressive in ramping up loan sanctions, the actual disbursements are yet to pick up in a meaningful way.

  • MSME Day | What is the definition of an MSME and how can one register? Jun 26, 2020 03:50 PM IST

    MSME Day | What is the definition of an MSME and how can one register?

    The government revised the current definition of MSMEs with effect from July 1

  • MSME Day | With right policies, 2021 can see an MSME boom in India Jun 26, 2020 11:34 AM IST

    MSME Day | With right policies, 2021 can see an MSME boom in India

    Cut the regulatory cholesterol of complex laws and cumbersome paperwork — this will help small businesses focus their resources and energies towards efficiency and higher productivity

  • The case for a unique business identifier for Indian MSMEs Jun 26, 2020 10:17 AM IST

    The case for a unique business identifier for Indian MSMEs

    Solving the identity problem is necessary to enable a shift away from a survival mindset and towards a growth mindset

  • MSME woes | Large corporates with strong liquidity hold up nearly Rs 3.3 lakh crore in payments: Report Jun 23, 2020 08:53 PM IST

    MSME woes | Large corporates with strong liquidity hold up nearly Rs 3.3 lakh crore in payments: Report

    The report notes that despite the MSME-focussed steps announced by the Centre as part of the financial relief packages, the sector continues to experience stretched liquidity "given the long credit period extracted from MSMEs by large corporates, many of which have sufficient liquidity of their own."

  • Why a complete boycott of Chinese goods is not possible Jun 23, 2020 03:15 PM IST

    Why a complete boycott of Chinese goods is not possible

    Currently China’s presence in the Indian market is huge, and we cannot — at least for the moment — wish it away. What is required are structural reforms and appropriate policy interventions across sectors

  • BJP’s Tamil Nadu unit launches helpline to obtain loans Jun 19, 2020 03:28 PM IST

    BJP’s Tamil Nadu unit launches helpline to obtain loans

    Up to 19,000 people have applied for loans, five applications have been processed and Rs 20 lakh loans was released, according to the party website. Moves comes as as Rs 3 lakh crore MSME loan scheme has failed to take off.

  • Rs 3 lakh crore MSME loan scheme: PSBs struggle to improve actual disbursals; will private banks come on board? Jun 18, 2020 01:56 PM IST

    Rs 3 lakh crore MSME loan scheme: PSBs struggle to improve actual disbursals; will private banks come on board?

    In fact, on a cumulative basis, only half of the amount sanctioned is disbursed so far. PSB bankers are on an overdrive to make the scheme work under direction of the government

  • PSBs disburse Rs 16,031 crore loan to MSMEs under emergency credit guarantee scheme Jun 16, 2020 03:18 PM IST

    PSBs disburse Rs 16,031 crore loan to MSMEs under emergency credit guarantee scheme

    Public sector banks (PSBs) have sanctioned loans worth Rs 32,049.86 crore under the 100 per cent ECLGS for the Micro, Small & Medium Enterprise (MSME) sector starting June 1. The scheme is the biggest fiscal component of the Rs 20-lakh crore Atmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman last month.

  • SBI disburses Rs 8,700 crore to MSMEs under emergency credit guarantee scheme Jun 16, 2020 02:55 PM IST

    SBI disburses Rs 8,700 crore to MSMEs under emergency credit guarantee scheme

    As per the directions of the finance ministry, SBI and other banks rolled out the Guaranteed Emergency Credit Line (GECL) loan product to support MSMEs and business enterprises as per the guidelines of NCGTC.

  • GDP contraction poses 'existential threat' to MSMEs, policy measures offer little succour: Report Jun 15, 2020 03:59 PM IST

    GDP contraction poses 'existential threat' to MSMEs, policy measures offer little succour: Report

    However, policy interventions by the Reserve Bank of India (RBI) and the finance ministry offer little hope because they cannot revive demand, which is crucial for the small businesses, the report said.

  • PSBs disburse Rs 12,201 crore loan to MSMEs under emergency credit line scheme Jun 11, 2020 01:45 PM IST

    PSBs disburse Rs 12,201 crore loan to MSMEs under emergency credit line scheme

    Public Sector Banks (PSBs) have sanctioned loans worth Rs 24,260.65 crore under the 100 percent ECLGS for the Micro, Small & Medium Enterprises (MSME) sector starting June 1.

  • FM Nirmala Sitharaman asks public sector banks to be proactive in lending to MSMEs Jun 10, 2020 11:59 AM IST

    FM Nirmala Sitharaman asks public sector banks to be proactive in lending to MSMEs

    FM Nirmala Sitharaman was reviewing the progress of the Rs 3 lakh crore Emergency Credit Guarantee Scheme for MSMEs

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