New MSME credit assessment model for PSBs likely to be launched in March 2025: Report
Sep 02, 2024, at 05:15 pm
New Delhi/IBNS: The new micro, small and medium enterprise (MSME) credit assessment model, based on digital footprints for public sector banks (PSBS), is expected to be unveiled by the end of March next year (2025), Business Standard reported, citing sources in the know.
FM Nirmala Sitharaman asks PSBs to make 'concerted' efforts for special deposit drives
Aug 20, 2024, at 05:28 pm
New Delhi/IBNS: Union Finance Minister Nirmala Sitharaman on Monday (August 19) called for a collaborative approach between banks, the government, regulators, and security agencies, amid rising cyber threats.
UnionBudget2024: FM proposes eight new measures to support MSMEs
Jul 23, 2024, at 07:10 pm
With an eye on employment generation and to boost the manufacturing sector, Union Finance Minister Nirmala Sitharaman announced special measures for the MSME sector.
Share of MSMEs in manufacturing output in India stands at 35.4 percent, Economic Survey finds
Jul 22, 2024, at 11:43 pm
The Economic Survey tabled by the Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman in Parliament on Monday, highlights the importance of the MSME sector in the Indian economy with an all-India manufacturing output of 35.4 percent.
Economic Survey says deregulation of Indian MSME section is crucial
Jul 22, 2024, at 11:25 pm
For Medium, Small and Micro Enterprises (MSMEs), while bridging the credit gap remains a crucial element, the focus also needs to be on deregulation, enhancing physical and digital connectivity, and putting in place an export strategy that enables MSMEs to broaden their market exposure and scale up.
Jul 10, 2024, at 05:47 am
New Delhi: The government is contemplating to relax the requirement for making payments to MSMEs within 45 days of purchasing goods and services to prevent large corporations from seeking alternative sourcing options, media reported.
Entrepreneurs gain valuable insights at FICCI FLO's seminar on MSME in Kolkata
Jul 01, 2024, at 09:59 pm
Kolkata: FICCI FLO, the women's wing of the Federation of Indian Chambers of Commerce and Industry, recently hosted a seminar focussing on the leading role played by the MSMEs in India.
60% of MSMEs plan to digitize their business by 2025: Vi report
Jun 28, 2024, at 10:15 pm
Kolkata: Almost 60% of MSMEs plan to digitize their business processes by 2025, according to Vi Business ReadyforNext MSME growth insights study.
Aditya Birla's MSME lending platform Udyog Plus garners 8 lakh users in 9 months; AUM at Rs 250 cr
Jun 28, 2024, at 08:53 pm
Kolkata: Aditya Birla Finance Limited’s (ABFL) B2B lending platform Udyog Plus has attracted over 8 lakh users in the MSME sector within nine months of its launch, the company said in a press release.
MSME ministry launches initiative to onboard 5 lakh MSMEs on ONDC
Jun 28, 2024, at 03:02 am
New Delhi: Union Minister for Micro, Small & Medium Enterprises (MSMEs) Jitan Ram Manjhi launched an initiative to onboard 5 lakh micro and small enterprises onto the Open Network for Digital Commerce (ONDC) platform.
National Stock Exchange and West govt sign MoU to facilitate fundraising for SMEs in the State
Nov 23, 2023, at 02:59 am
Kolkata: The National Stock Exchange (NSE) and the West Bengal government have signed a Memorandum of Understanding (MoU) to spread awareness amongst MSMEs of the state regarding fundraising via the IPO mechanism using NSE Emerge which is the SME platform of NSE.
Mines Ministry to support start-ups, MSMEs for research in mineral processing
Nov 16, 2023, at 05:43 am
New Delhi: The Mines Ministry would invite proposals from start-ups, MSMEs and individual innovators to promote research and innovation in mining and mineral processing, according to a statement on Wednesday.
Nov 11, 2023, at 05:07 am
New Delhi: The MSME sector has achieved a significant milestone by generating over 15 crore employment opportunities, Union Minister Narayan Rane said in a social media post.
Apr 09, 2023, at 05:53 am
New Delhi/IBNS: The government has sanctioned around Rs 23.2 lakh crore to 40.82 crore loan accounts under the Pradhan Mantri Mudra Yojana (PMMY) scheme as of March 24, 2023, Finance Minister Nirmala Sitharaman said on Saturday.
Kotak General Insurance partners with actyv.ai to provide insurance products to MSMEs
Apr 05, 2023, at 11:47 pm
Kolkata: Kotak Mahindra General Insurance Co. Ltd (Kotak General Insurance) on Wednesday announced that it has partnered with actyv.ai to offer bite-sized insurance products to new-age Micro, Small and Medium Enterprises (MSME) companies.
Feb 01, 2023, at 10:50 pm
New Delhi: While presenting the Union Budget 2023-24 in Parliament here on Wednesday, Union Minister for Finance and Corporate Affairs Nirmala Sitharaman proposed to continue the financial sector reforms and innovative use of technology which have led to financial inclusion at scale, better and faster service delivery, ease of access to credit and participation in financial markets.
Sep 17, 2022, at 06:37 pm
Mumbai: The MSME sector has a catalyzing role in the growth of India with a contribution of nearly 1/3rd of the country's GDP and has remarkable potential to grow further, Union Minister for MSME Narayan Rane said at an ASSOCHAM event in Mumbai on Friday.
96 lakh MSMEs registered on Udyam portal in two years: MSME Secretary
Jul 14, 2022, at 10:28 pm
New Delhi/UNI: Within two years of the adoption of the new definition for MSMEs, and the subsequent launch of the Udyam portal, almost 96 lakh MSMEs, with the employment of 7.34 crore, have registered, Secretary for the Ministry of Micro, Small & Medium Enterprises (MSME) B B Swain said Thursday.
Kotak launches real-time working capital finance for MSMEs
Jul 01, 2022, at 05:10 am
Kolkata: As part of its digital-first strategy, Kotak Mahindra Bank Thursday announced the launch of a real-time loans offering for its clients classified as micro, small and medium enterprises (MSMEs) that are registered on the Government’s e-Marketplace (GeM) Sahay - a platform that connects sellers with lenders.
Jun 28, 2022, at 04:54 pm
Flipkart, India’s homegrown e-commerce marketplace, launched a film “MSMEs - Taking India Forward” on the occasion of World MSME Day celebrated on June 27th worldwide to celebrate and showcase the journey of all the Micro, Small and Medium Enterprises who are integral growth drivers of the country’s economy.
Bureau of Indian Standards grants 630 licenses to MSME toy manufacturers
Apr 07, 2022, at 04:03 pm
New Delhi: the Bureau of Indian Standards (BIS) has granted 630 licenses to MSME toy manufacturers as of 28.03.2022, Union Minister of State for Consumer Affairs Ashwini Kumar Choubey told Lok Sabha on Tuesday in a written reply.
Cabinet approves USD 808 million for 'raising and accelerating MSME performance'
Mar 31, 2022, at 06:01 am
New Delhi: The Union Cabinet chaired by the Prime Minister Narendra Modi on Wednesday approved a USD 808 million or Rs 6,062.45 crore, World Bank assisted programme on “Raising and Accelerating MSME Performance” (RAMP).
MSME Development Forum's new team launched in West Bengal
Mar 14, 2022, at 07:39 pm
Kolkata/IBNS: The grand launch of a new team of MSME (Micro, Small & Medium Enterprises) Development Forum, West Bengal and felicitation of Dr. Mamta Binani as the president of MSME Development Forum took place last week.
Budget 2022-23: Stainless steel MSMEs want reimposition of CVD on China, Indonesia
Jan 27, 2022, at 10:39 pm
New Delhi/IBNS: The workers in the stainless steel industry's medium, small, and micro enterprises (MSME) await the imposition of countervailing tax (CVD) on China and Indonesia, as it would fuel the Indian businessmen to proliferate manufacturing.
Piyush Goyal sets target of 75 unicorns in run-up to 75th year of Independence
Jan 22, 2022, at 03:00 am
New Delhi/UNI: Minister of Commerce and Industry Piyush Goyal on Friday called upon the Information Technology enabled Service (ITES ) industry to aim for raising 75 unicorns in the 75 weeks to the 75th anniversary of India’s Independence next year.
MSME units are together capable of constituting a complete supply chain: MSME Secretary
Jan 21, 2022, at 03:46 am
New Delhi/IBNS: There is tremendous potential for Indian engineering MSMEs to be integrated into the Global Value Chain due to their manufacturing cost advantage, said B. B. Swain, Secretary, Ministry of MSME.
Low-rate regime is the need of the hour to boost recovery: EEPC India Chairman
Oct 08, 2021, at 07:26 pm
Kolkata/IBNS: The low-rate regime is the need of the hour to boost recovery and the Reserve Bank of India has done a good job by keeping the repo rates unchanged at four percent besides keeping the stance accommodative, said the Chairman of EEPC (Engineering Export Promotion Council) Mahesh Desai.
HDFC Bank says it will double its rural reach to 2 lakh villages in 2 years
Sep 27, 2021, at 02:43 am
Mumbai: HDFC Bank has said it aims to expand its reach to two lakh villages in the next 18-24 months.
'Three-Wheeler Market’ to grow at 6.78% CAGR in value terms by 2026: TechSci
Jun 29, 2021, at 01:42 am
Kolkata/IBNS: TechSci, a research-based global management consulting firm, in its report on “Global Three-Wheeler Market” estimated the three-wheeler industry to boom to a total of US 11.68 billion by 2026.
Only PAN and Aadhaar essential for MSME registration: Nitin Gadkari
Jun 16, 2021, at 05:50 pm
New Delhi/UNI: Union Minister for Micro, Small & Medium Enterprises (MSMEs), Nitin Gadkari on Tuesday said that now only PAN card and the Aadhaar card will be required for the registration of MSMEs, while he addressed a webinar of SMEStreet GameChangers Forum.