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  • Exposure to MSMEs and housing may raise NPAs: Ujjivan May 26, 2016 12:01 PM IST

    Exposure to MSMEs and housing may raise NPAs: Ujjivan

    Samit Ghosh, MD and CEO of the firm, said that he expects normal growth in FY17 and a 30-35 percent growth in asset under management (AUM).

  • Ujjivan's net income soars by 133.83% to Rs 177.21 crore May 26, 2016 09:04 AM IST

    Ujjivan's net income soars by 133.83% to Rs 177.21 crore

    "While our MSME lending business grew by 96.45 percent at Rs 673 crore in the reporting year from Rs 342 crore in the year-ago period, housing finance business also grew to Rs 207 crore during the year from merely Rs 3 crore in the year-ago period," Ujjivan chief financial officer Sudha Suresh told PTI here.

  • IIJS opens doors for young innovators and MSME sector May 16, 2016 03:27 PM IST

    IIJS opens doors for young innovators and MSME sector

    In a welcome move, IIJS 2016 plans to introduce "Hall of Innovation" product gallery and a dedicated section for MSME sector in Hall no. 2 at Bombay Exhibition Centre.

  • Capital First PAT rises 30% to Rs 47.50 cr in March qtr May 13, 2016 07:46 PM IST

    Capital First PAT rises 30% to Rs 47.50 cr in March qtr

    Non-banking finance company Capital First on May 13 reported a profit after tax of Rs 47.50 crore in the March quarter, registering an increase of 30 percent over the corresponding period last year

  • Eligible MSMEs ignored in Railway Tenders? May 13, 2016 02:52 PM IST

    Eligible MSMEs ignored in Railway Tenders?

    Despite the government‘s clear instruction to follow the mandatory 20% procurement policy from the Micro, Small and Medium Enterprises (MSMEs), some of the big departments like Railways are allegedly flouting the norms ignoring repeated requests made by the small entrepreneurs to include them in the tenders

  • MSME sector poised for rapid growth, job creation: Mishra May 11, 2016 08:16 AM IST

    MSME sector poised for rapid growth, job creation: Mishra

    Poised for rapid growth and integration with major global value chains, MSEs will make considerable impact in realising Make in India vision. The sector has the potential to market its 'Made in India' brand globally," MSME Minister Mishra said while inaugurating the Cluster Development Programme here.

  • See 30% AUM growth over next couple of years: Ujjivan Fin May 10, 2016 11:02 AM IST

    See 30% AUM growth over next couple of years: Ujjivan Fin

    The microfinance lender, which listed on the exchanges on Tuesday, targets 30 percent growth in AUM over next couple of years by expanding into lending for micro small and medium enterprises sector and housing finance along with further diversification into the unbanked and under-banked regions of the country, says CFO Sudha Suresh.

  • 'Banks should provide hassle-free services to start-ups in J-K' May 09, 2016 07:28 AM IST

    'Banks should provide hassle-free services to start-ups in J-K'

    Speaking at a daylong workshop on Prime Minister's Employment Generation Programme (PMEGP), the Minister for Micro, Small and Medium Enterprises (MSME) said banks should be customer-friendly by providing hassle-free services to entrepreneurs on priority basis.

  • Protecting trademarks can transform MSMEs into MNCs May 05, 2016 04:29 PM IST

    Protecting trademarks can transform MSMEs into MNCs

    Maharashtra is the leading industrial state in the country and the MSMEs in the state are highly innovative and enterprising. The MSMEs must take advantage of the Madrid Protocol and protect trademarks of their products and services in 97 member countries by filing a single application in the Indian patent office.

  • Govt joins Autodesk to empower MSMEs for product development May 05, 2016 01:36 PM IST

    Govt joins Autodesk to empower MSMEs for product development

    Autodesk Inc., a world leader in 3D design technology, announced that it will provide advanced design technology to - local MSMEs from the manufacturing sector as per an Memorandum of Understanding (MoU) with the Government of Maharashtra.

  • SIDBI signs MoU with Saarc Development Fund Apr 30, 2016 01:16 PM IST

    SIDBI signs MoU with Saarc Development Fund

    The MoU envisages SDF and SIDBI to work together in co-funding of projects in Indian MSMEs on risk sharing basis in identified sectors, development of suitable financial products for SME financing for MSMEs of other Saarc states, the Finance Ministry said in a statement.

  • E-commerce boom: Investors turn focus to profitable growth Apr 25, 2016 11:08 AM IST

    E-commerce boom: Investors turn focus to profitable growth

    According to the report, e-commerce B2C segment has grown significantly, leading to creation of many 'unicorns'. "However, focus of investors going forward seems to have shifted to profitable growth to achieve stabilisation of the economic model

  • India Aspiration Fund need to be at par with NIIF: BoM Apr 25, 2016 10:48 AM IST

    India Aspiration Fund need to be at par with NIIF: BoM

    IAF set up to boost the startup ecosystem in the country should be moderated on the lines of NIIF, which funds up to 49 per cent of the capital requirement, head of Bank of Maharashtra said

  • India for advancing mutual cooperation among IORA members Apr 13, 2016 01:14 PM IST

    India for advancing mutual cooperation among IORA members

    "India's vision for the Indian Ocean region is rooted in advancing cooperation and using our capabilities for the benefit of all members of IORA," Union MSME Minister Kalraj Mishra said here.

  • Prime Venture Partners invests $750,000 in KredX Apr 13, 2016 12:14 PM IST

    Prime Venture Partners invests $750,000 in KredX

    Launched last year by IIT and Stanford alumni Manish Kumar, Anurag Jain and Puneet Agarwal, KredX (previously known as Mandii), enables the growth of micro, small and medium enterprises (MSMEs) by unlocking cash tied up in customer invoices that would otherwise be paid in 30 to 90 days.

  • MP to invest Rs 2.25 lk cr on development Apr 07, 2016 04:19 PM IST

    MP to invest Rs 2.25 lk cr on development

    Madhya Pradesh will invest as much as Rs 2.25 lakh crore towards rural and urban development in the next 4-5 years, Chief Minister Shivraj Singh Chouhan said today. "We will invest Rs 1.5 lakh crore on rural development in the next four years and will provide housing for all under the mission.

  • DSCI partners Google for Internet safety for SMBs Apr 06, 2016 06:24 PM IST

    DSCI partners Google for Internet safety for SMBs

    Under the programme, the body will conduct workshops aimed at enhancing trust in the cyberspace by empowering MSMEs with knowledge and understanding to deal with cyber security challenges to stay safe and secure while operating online, DSCI Senior Director Vinayak Godse said.

  • Commerce Ministry to focus on 6 areas to revive exports Apr 06, 2016 05:20 PM IST

    Commerce Ministry to focus on 6 areas to revive exports

    The Commerce Ministry today saidit will focus on six areas, including reviving SEZs andaccording priority sector status to export credit, with a viewto giving a boost to overseas shipments, which have been on a decline since December 2014.

  • CAIT opposes 100% FDI in marketplace model of e-commerce Mar 29, 2016 08:28 PM IST

    CAIT opposes 100% FDI in marketplace model of e-commerce

    This decision makes the current government a "U-Turn government" as it has earlier strongly opposed FDI in retail, it said.

  • MSMEs can reap Rs 2 trillion business from Budget boost: Report Mar 28, 2016 08:54 AM IST

    MSMEs can reap Rs 2 trillion business from Budget boost: Report

    The Rs 3,02,885 crore allocated towards the MSME sector can lead to a direct benefit of Rs 2,00,000 crore to the sector, according to domestic rating agency Smera Ratings.

  • CPSUs must take steps to meet 20% procurement from MSMEs:Govt Mar 18, 2016 05:44 PM IST

    CPSUs must take steps to meet 20% procurement from MSMEs:Govt

    The government has reiterated that all central public sector units have to take proactive measures to achieve the target of 20 per cent annual procurement from micro, small and medium enterprises

  • Software launched to enhance management capabilities of SMEs Mar 18, 2016 05:40 PM IST

    Software launched to enhance management capabilities of SMEs

    BUSY Infotech Private Limited, developer of BUSY - India`s leading Business Accounting Software for SMEs with over 6, 00,000 Users in over 20 countries, announced the launch of its new avatar BUSY 16

  • New MSME loan restructuring norms a welcome step: BoI‘s Sharma Mar 18, 2016 11:53 AM IST

    New MSME loan restructuring norms a welcome step: BoI‘s Sharma

    BP Sharma, ED of Bank of India says that MSME segment does need hand holding.

  • RBI revises rules for resolution of stressed MSME loans Mar 17, 2016 08:10 PM IST

    RBI revises rules for resolution of stressed MSME loans

    The Reserve Bank today revised rules pertaining to revival of advances to small businesses and asked lenders to form district-level committees to resolve stressed loans to micro, small and medium enterprises (MSMEs).

  • Use of IT to promote good governance, job creation: Minister Mar 15, 2016 08:32 PM IST

    Use of IT to promote good governance, job creation: Minister

    The MSME Ministry today emphasisedon the need for using information technology for good governance and employment generation in the sector.

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