In the wake of the second wave of COVID-19 in the country, FIDC urges RBI Governor Shaktikanta Das to consider extending the one-time restructuring of #MSME advances ⤵️
https://www.moneycontrol.com/news/business/economy/extend-one-time-restructuring-of-msme-advances-until-march-31-next-year-fidc-tells-rbi-6793951.html?utm_source=telegram&utm_medium=social
https://www.moneycontrol.com/news/business/economy/extend-one-time-restructuring-of-msme-advances-until-march-31-next-year-fidc-tells-rbi-6793951.html?utm_source=telegram&utm_medium=social
Moneycontrol
Extend One-time Restructuring Of MSME Advances Until March 31 Next Year, FIDC Tells RBI
The Finance Industry Development Council has sought the inclusion of 'retail trade' and 'wholesale trade' as activities recognised by the Ministry of MSMEs for registration.
#MCOpinion | The potential to maximise overall digital lending which amounts to just 1% of total lending in India is huge.
Sumita Kale & Prashant Girbane explore at
https://www.moneycontrol.com/news/opinion/how-to-bridge-the-credit-gap-for-msmes-6821071.html
#Fintech #MSME #smallbusiness
Sumita Kale & Prashant Girbane explore at
https://www.moneycontrol.com/news/opinion/how-to-bridge-the-credit-gap-for-msmes-6821071.html
#Fintech #MSME #smallbusiness
Moneycontrol
How To Bridge The Credit Gap For MSMEs
Fintechs in the MSME lending space need a godfather, like Nandan Nilekani for UIDAI, to coordinate across the various departments and ministries
#MCOpinion: One specific policy initiative for the govt would be to encourage #startups and some older companies in the #technology space by funding those that provide cloud-based solutions built with the '#MSME First' agenda.
https://www.moneycontrol.com/news/opinion/wanted-a-joint-secretary-for-digital-drive-at-the-ministry-of-msme-7007281.html?utm_source=telegram&utm_medium=social
https://www.moneycontrol.com/news/opinion/wanted-a-joint-secretary-for-digital-drive-at-the-ministry-of-msme-7007281.html?utm_source=telegram&utm_medium=social
Moneycontrol
Wanted: A Joint Secretary For 'digital Drive' At The Ministry Of MSME
The government should encourage and fund startups that provide cloud-based solutions built with the 'MSME First' agenda, and support adoption through a digital drive for small businesses
#MCOpinion: One specific policy initiative for the govt would be to encourage #startups and some older companies in the #technology space by funding those that provide cloud-based solutions built with the '#MSME First' agenda.
https://www.moneycontrol.com/news/opinion/wanted-a-joint-secretary-for-digital-drive-at-the-ministry-of-msme-7007281.html?utm_source=telegram&utm_medium=social
https://www.moneycontrol.com/news/opinion/wanted-a-joint-secretary-for-digital-drive-at-the-ministry-of-msme-7007281.html?utm_source=telegram&utm_medium=social
Moneycontrol
Wanted: A Joint Secretary For 'digital Drive' At The Ministry Of MSME
The government should encourage and fund startups that provide cloud-based solutions built with the 'MSME First' agenda, and support adoption through a digital drive for small businesses
AICA of MSMEs, representing around 170 #MSME associations, urges PM Narendra Modi to intervene after a massive spike in key raw material prices hurt MSMEs.
https://www.moneycontrol.com/news/business/msme-body-aica-writes-to-pm-seeks-intervention-as-price-of-raw-material-rises-7077111.html?utm_source=telegram&utm_medium=social
https://www.moneycontrol.com/news/business/msme-body-aica-writes-to-pm-seeks-intervention-as-price-of-raw-material-rises-7077111.html?utm_source=telegram&utm_medium=social
Moneycontrol
MSME Body AICA Writes To PM, Seeks Intervention As Price Of Raw Material Rises
As a result of the consecutive lockdowns in 2020 and 2021, the MSME sector has been facing a massive liquidity and supply crunch, shortage of labour and non-payment of dues.
Ministry of MSME announces the inclusion of #retail and #wholesale trades as #MSMEs. Shreeja Singh with more details here ▶️ https://www.moneycontrol.com/news/business/government-includes-retail-and-wholesale-trades-as-msmes-7117581.html?utm_source=telegram&utm_medium=social
#MSME #MSMEDay #Trade #Business
#MSME #MSMEDay #Trade #Business
Moneycontrol
Government Includes Retail And Wholesale Trades As MSMEs
The government in June 2017 removed retail and wholesale traders from the MSME category
Japan's Sumitomo Mitsui makes big consumer and #MSME lending push in India; to acquire Temaseks NBFC arm Fullerton India Credit, reports Ashwin Mohan ⤵️
https://www.moneycontrol.com/news/business/sumitomo-mitsui-to-acquire-temasek-india-nbfc-arm-fullerton-india-credit-company-7131381.html?utm_source=telegram&utm_medium=social
https://www.moneycontrol.com/news/business/sumitomo-mitsui-to-acquire-temasek-india-nbfc-arm-fullerton-india-credit-company-7131381.html?utm_source=telegram&utm_medium=social
Moneycontrol
Sumitomo Mitsui To Acquire Temasek India NBFC Arm Fullerton India Credit Company
The deal is subject to regulatory approvals and according to sources has been struck for around $2 billion.
Micro Small & Medium Enterprises Minister Narayan Rane, in a written response, informed the Parliament that a total of 26,893 delayed payment cases by #MSEs are pending through the last 3 yrs
Read at
https://www.moneycontrol.com/news/sector/cases-of-delayed-payments-to-mses-reach-26893-in-3-years-narayan-rane-tells-house-7796551.html?utm_source=telegram&utm_medium=social
#MSME #NarayanRane
Read at
https://www.moneycontrol.com/news/sector/cases-of-delayed-payments-to-mses-reach-26893-in-3-years-narayan-rane-tells-house-7796551.html?utm_source=telegram&utm_medium=social
#MSME #NarayanRane
Moneycontrol
Cases Of Delayed Payments To MSEs Reach 26,893 In 3 Years, Narayan Rane Tells House
The MSME minister noted that from FY20, some 6,159 cases have been disposed by MSEFCs, involving an amount of Rs 2,905.15 crore
MSMEs face a huge #CreditGap, representatives have said that a Digital Platform that can provide quick & easy credit to MSME can reduce paperwork & ease the flow of small-ticket institutional loans to such units.
Read at
https://www.moneycontrol.com/news/business/small-businesses-welcome-plans-for-upi-like-digital-platform-for-msme-lending-7800721.html?utm_source=telegram&utm_medium=social
#CreditGap #loans #MSME #UPI
Read at
https://www.moneycontrol.com/news/business/small-businesses-welcome-plans-for-upi-like-digital-platform-for-msme-lending-7800721.html?utm_source=telegram&utm_medium=social
#CreditGap #loans #MSME #UPI
Moneycontrol
Small businesses welcome plans for UPI-like digital platform for MSME lending
MSMEs face a huge credit gap—the World Bank pegs this at a collective $380 billion—even though they are entitled to bank finance under priority sector lending norms.
Just when MSMEs were gearing up to recover from two consecutive waves of #Covid19,
“This is definitely a cause of concern for MSMEs,”
R Ramamurthy, member of the All India Council of Association of MSMEs
Read at
https://www.moneycontrol.com/news/business/covid-hit-small-businesses-worried-about-impact-of-possible-third-wave-7801251.html?utm_source=telegram&utm_medium=social
#lockdown #MSME #Omicron #ThirdWave
“This is definitely a cause of concern for MSMEs,”
R Ramamurthy, member of the All India Council of Association of MSMEs
Read at
https://www.moneycontrol.com/news/business/covid-hit-small-businesses-worried-about-impact-of-possible-third-wave-7801251.html?utm_source=telegram&utm_medium=social
#lockdown #MSME #Omicron #ThirdWave
Moneycontrol
COVID-hit Small Businesses Worried About Impact Of Possible Third Wave
Uncertainty about the latest variant of the coronavirus has small businesses worried about lockdowns and the impact on their ability to compete in the export market and repay loans.
An online survey conducted by National Small Industries Corporation Ltd found that about 9% of MSMEs have closed down as a result of the #Covid19 pandemic, minister Narayan Rane said.
Know more at
https://www.moneycontrol.com/news/business/about-9-msmes-got-shut-down-due-to-covid-19-disruptions-govt-tells-lok-sabha-7831971.html?utm_source=telegram&utm_medium=social
#MSME #NarayanRane
Know more at
https://www.moneycontrol.com/news/business/about-9-msmes-got-shut-down-due-to-covid-19-disruptions-govt-tells-lok-sabha-7831971.html?utm_source=telegram&utm_medium=social
#MSME #NarayanRane
Moneycontrol
About 9% MSMEs Got Shut Down Due To COVID-19 Disruptions, Govt Tells Lok Sabha
On the question about providing support to MSMEs, the minister said loans amounting to Rs 2.82 lakh crore have been sanctioned to businesses.
Exports by small businesses started declining before the pandemic due to a stagnation in manufacturing and a global slowdown & worsened after the #Covid19 outbreak. However, exporters are optimistic about exports growing.
Shreeja Singh ✍️ at https://www.moneycontrol.com/news/business/msme-exports-drop-for-two-year-in-a-row-exporters-positive-on-outlook-7833691.html?utm_source=telegram&utm_medium=social
#MSME #Omicron #Exports
Shreeja Singh ✍️ at https://www.moneycontrol.com/news/business/msme-exports-drop-for-two-year-in-a-row-exporters-positive-on-outlook-7833691.html?utm_source=telegram&utm_medium=social
#MSME #Omicron #Exports
Moneycontrol
MSME Exports Drop For Two Years In A Row, Exporters Positive On Outlook
Small businesses were hit even before the pandemic struck due to the global slowdown. While MSME exporters are optimistic about this year, the new variant of the Covid-19 virus has them worried.
The government is understating the severity of the impact of COVID-19 on small businesses & underreporting the proportion of units that have shut down, representatives of these businesses have said.
Read at
https://www.moneycontrol.com/news/business/severity-of-covid19-disruption-very-severe-lack-of-credit-was-a-key-problem-msme-associations-7838861.html
#Covid19 #MSME
Read at
https://www.moneycontrol.com/news/business/severity-of-covid19-disruption-very-severe-lack-of-credit-was-a-key-problem-msme-associations-7838861.html
#Covid19 #MSME
Moneycontrol
Severity Of Covid19 Disruptions On MSMEs Understated
The government is understating the severity of the impact of COVID-19 on small businesses and underreporting the proportion of units that have shut down, representatives of these businesses have said.
Commerce and Industry Minister Piyush Goyal has asked industry bodies to prepay #MSME to safeguard their viability and to boost employment and growth.
Read more at 🔻
https://www.moneycontrol.com/news/business/economy/commerce-minister-piyush-goyal-tells-industry-to-prepay-msmes-for-their-services-7929641.html?utm_source=telegram&utm_medium=social
Read more at 🔻
https://www.moneycontrol.com/news/business/economy/commerce-minister-piyush-goyal-tells-industry-to-prepay-msmes-for-their-services-7929641.html?utm_source=telegram&utm_medium=social
Moneycontrol
Commerce Minister Piyush Goyal Tells Industry To Prepay MSMEs For Their Services
With regards t the series of proposed trade deals currently being negotiated by the government, Goyal told industry leaders to be proactive in giving inputs to the government.
#StartupsWithMC | Google Pay has joined hands with Indifi Technologies to provide instant loans to MSMEs.
The loans will be in the range of Rs 2.5 to Rs 3 lakh.
Read at
https://www.moneycontrol.com/news/business/companies/google-pay-partners-indifi-to-provide-instant-msme-credit-as-it-expands-its-financial-services-play-7936221.html
#credit #fintech #GooglePay #Indifi #MSME
The loans will be in the range of Rs 2.5 to Rs 3 lakh.
Read at
https://www.moneycontrol.com/news/business/companies/google-pay-partners-indifi-to-provide-instant-msme-credit-as-it-expands-its-financial-services-play-7936221.html
#credit #fintech #GooglePay #Indifi #MSME
Moneycontrol
Google Pay partners Indifi to provide instant MSME credit as it expands its financial services play
With a 35 percent share of monthly UPI volumes, Google Pay has been growing its financial services play over the past year like other payments leaders in India
The programme, called 'Raising and Accelerating #MSME Performance' - or #RAMP - will commence in FY23, the government said today.
Read more 👇
https://www.moneycontrol.com/news/business/economy/cabinet-approves-808-million-programme-to-improve-msme-performance-8295701.html?utm_source=telegram&utm_medium=social
Read more 👇
https://www.moneycontrol.com/news/business/economy/cabinet-approves-808-million-programme-to-improve-msme-performance-8295701.html?utm_source=telegram&utm_medium=social
#MCProOpinion: #MSME recovery is facing challenges. The govt and the financial institutions need to do more to help them stay afloat.
Read at:
https://www.moneycontrol.com/news/opinion/indian-msmes-braving-the-impact-of-geopolitical-crisis-8392861.html?utm_source=telegram&utm_medium=social
Read at:
https://www.moneycontrol.com/news/opinion/indian-msmes-braving-the-impact-of-geopolitical-crisis-8392861.html?utm_source=telegram&utm_medium=social
Moneycontrol
Indian MSMEs – braving the impact of geopolitical crisis
Small entrepreneurs need more support from the government and financial institutions to overcome present challenges
How can the Indian MSME sector plug into global supply chains? Achieve scale and greater efficiency.
Catch the experts analyse the big MSME push by India at #MCPolicyNext - The MSME Summit.⚡️
June 28th, 6pm onwards
#MSMEs #MSME #SupplyChains
Catch the experts analyse the big MSME push by India at #MCPolicyNext - The MSME Summit.⚡️
June 28th, 6pm onwards
#MSMEs #MSME #SupplyChains