India: Govt Plans New Financing for MSMEs
2 weeks, 4 days ago

India: Govt Plans New Financing for MSMEs

Deccan Chronicle  

New Delhi: The Modi-led NDA government is open to exploring some alternate financing models for micro, small, and medium enterprises where the concerned ministry can earmark particular areas in the proposed industrial townships for the MSMEs. The statement of the government comes at a time when small business houses in the country are reportedly facing specific issues in accessing bank credit and the similar concerns to grow their businesses. Urging the crucial issue for the MSMEs, commerce and industry minister Piyush Goyal on Thursday said that the industry should share specific issues they are facing in accessing bank credit and hinted that the government is open to exploring alternate financing models for MSMEs. If Toyota is investing Rs 20,000 crore in one of our industrial cities at Shendra-Bidkin at Sambhaji Nagar, clearly they will need 100s of MSMEs in their support ecosystem,” Goyal said, adding that the pain that the industry is not giving feedback on the ministry’s single window system Initiative.

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MSMEs call for increased budgetary provision for sector
1 week ago

MSMEs call for increased budgetary provision for sector

The Hindu  

The Micro, Small and Medium-scale Enterprises have appraised the State Finance department about the need to make a substantial increase in support to the industries in the upcoming Budget for 2025-26 to meet government commitments to MSMEs that have and will come up under the Year of Enterprises Campaign, for supporting private industrial parks and the mission to convert 1,000 …

Govt open to exploring alternative financing models for MSMEs: Piyush Goyal
2 weeks, 4 days ago

Govt open to exploring alternative financing models for MSMEs: Piyush Goyal

Live Mint  

Commerce and industry minister Piyush Goyal on Thursday said the government is open to offering concessional rates for micro, small, and medium enterprises setting up businesses in industrial townships across the country. Speaking at an event organized by industry body Assocham, Goyal emphasized the government's efforts to simplify business processes, reduce compliance burdens, decriminalize laws, and create a supportive environment …

India: MSMEs Need Boost in Credit Access: Assocham
3 weeks, 4 days ago

India: MSMEs Need Boost in Credit Access: Assocham

Deccan Chronicle  

New Delhi: In order to boost credit access for small and medium businesses in the country, India Inc on Thursday called for enhancing the role of banks and other financial institutions to reach them and address their challenges. Leading industry body Assocham in collaboration with Egrow Foundation, conducted an in-depth study on 'MSMEs facing challenges with a quantitative data of …

Nirmala Sitharaman Announces Game-Changing Collateral-Free Loan Scheme for MSMEs
1 month, 1 week ago

Nirmala Sitharaman Announces Game-Changing Collateral-Free Loan Scheme for MSMEs

ABP News  

The Central Government is continuously working to enhance business opportunities across the country. In this regard, the government is soon set to launch a collateral-free term loan scheme for Micro, Small, and Medium Enterprises. Finance Minister Nirmala Sitharaman announced this at the National MSME Cluster Outreach Program in Bangalore. She highlighted that this new credit guarantee scheme will be a …

Nirmala Sitharaman Says MSMEs Will Get Collateral Free Loans Of Up To Rs 100 Crore Via New Credit Model
Trending News
1 month, 1 week ago

Nirmala Sitharaman Says MSMEs Will Get Collateral Free Loans Of Up To Rs 100 Crore Via New Credit Model

ABP News  

Union Finance Minister, Nirmala Sitharaman, on Saturday said that a new credit assessment model by public sector banks will be rolled out soon. This model will help the Ministry of Micro, Small and Medium Enterprises get collateral-free loans of up to Rs 100 crore. Speaking at the National MSME Cluster Outreach Programme in Bengaluru, the FM said that the problems …

Centre to launch collateral-free term loans scheme for MSMEs, says FM Sitharaman
1 month, 2 weeks ago

Centre to launch collateral-free term loans scheme for MSMEs, says FM Sitharaman

Hindustan Times  

New Delhi: The government is all set to launch a collateral-free term loans scheme for micro, small and medium enterprises to boost their manufacturing capabilities, finance minister Nirmala Sitharaman said on Saturday, adding that the scheme will be placed before the Cabinet soon. Introduction of a new credit guarantee scheme will have to go to the Cabinet “sooner” which will …

‘MSMEs took ₹999 cr. from NSIC VC Fund till July’
3 months, 1 week ago

‘MSMEs took ₹999 cr. from NSIC VC Fund till July’

The Hindu  

Micro, small and medium enterprises have taken ₹999 crore investments till July this year from the NSIC Venture Capital Fund, which has a corpus of ₹10,000 crore as ‘mother fund’, according to the National Small Industries Corporation. P. Ravi Kumar, chief general manager of the National Small Industries Corporation, said in Coimbatore on Tuesday that as part of the Self-Reliant …

MSMEs still out of mainstream institutional credit, shows survey
4 months ago

MSMEs still out of mainstream institutional credit, shows survey

Deccan Chronicle  

Hyderabad: In a downturn when tighter monetary conditions affect governments and companies, small and medium sized businesses bear brunt as the resultant delay in bill payments squeezes these enterprises financially. Though several measures were taken by the government and the Reserve Bank of India, micro, small and medium scale enterprises are perennially starved of institutional credit. Though the government has …

Budget Opens More Avenues of Credit For MSMEs
4 months, 4 weeks ago

Budget Opens More Avenues of Credit For MSMEs

Deccan Chronicle  

Chennai: Realising their potential in job creation, the Budget has formulated a package for MSMEs providing credit guarantees, new assessment criteria, and support during times of stress to spur growth and improve their competitiveness. The government has proposed a Credit Guarantee Scheme for MSMEs in the manufacturing sector, which will facilitate term loans to MSMEs for the purchase of machinery …

MSMEs get special attention in budget
4 months, 4 weeks ago

MSMEs get special attention in budget

Hindustan Times  

Finance minister Nirmala Sitharaman announced a revival package for the MSME sector that will include enhanced Mudra loans of up to ₹20 lakh, a collateral-free credit guarantee scheme to help purchase machinery and equipment, and a new assessment model to help unlisted enterprises access bank credit, among other measures. Sitharaman announced that the Union Budget provides “special attention to MSMEs …

Industrial and commerce bodies term Union Budget as pragmatic fostering MSME growth
5 months ago

Industrial and commerce bodies term Union Budget as pragmatic fostering MSME growth

The Hindu  

Industrial and commerce bodies in Dakshina Kannada welcomed the Union Budget, terming it a pragmatic one aimed at fostering micro, small and medium enterprises thereby creating more jobs. Terming the Budget growth-oriented, Kanara Industries Association president N. Arun Padiyar said proposals on employees provident fund scheme and providing ₹2 lakh crore support for job creation will generate more employment. District …

Union Budget gives a leg-up to MSMEs, manufacturing sector
5 months ago

Union Budget gives a leg-up to MSMEs, manufacturing sector

The Hindu  

The Union Budget for 2024-2025 has a package of support measures for the Micro, Small and Medium-scale Enterprises and the labour-intensive manufacturing sector. We have formulated a package covering financing, regulatory changes, and technology support for MSMEs to help them grow and also compete globally,” said Finance Minister Nirmala Sitharaman. The budget proposes a credit guarantee scheme that will work …

MSME data will help policy-making, finds economic survey
5 months ago

MSME data will help policy-making, finds economic survey

Deccan Chronicle  

Chennai: Improving the availability of data regarding the health of MSMEs will help policy-making, finds the Economic Survey. Updated IIP, production and employment data of MSMEs, information on credit disbursement, and industry-wise financial flows are some of them. Further, there should be information on industry-wise gross disbursement of bank credit as opposed to the data on outstanding credit currently available, …

MSMEs continue to face challenges in formalisation and accessing credit: Economic Survey
5 months ago

MSMEs continue to face challenges in formalisation and accessing credit: Economic Survey

The Hindu  

The Micro, Small and Medium-scale Enterprises face challenges, including issues with formalisation and inclusion, limited access to finance, markets, technology, and digitalisation, infrastructural bottlenecks, and skilling, according to the Economic Survey. “In the future, the development of new technologies, such as the Open Credit Enablement Network are expected to boost credit flow to the MSME sector, it mentioned in the …

Economic Survey 2023-24: States should reduce compliance burden of MSMEs
5 months ago

Economic Survey 2023-24: States should reduce compliance burden of MSMEs

The Hindu  

India's micro, small and medium enterprises continue to face "extensive regulation" and compliance requirements, apart from major bottlenecks in access to affordable and timely funding being one of the "core concerns", the Economic Survey said on July 22. Asserting that further reduction in the compliance burden for MSMEs will considerably improve their growth prospects, the Survey for 2023-24 tabled in …

The Essential Guide to MSME Financing in India
8 months, 1 week ago

The Essential Guide to MSME Financing in India

India TV News  

Small and medium enterprises serve as the backbone of the financial landscape of India, contributing significantly to employment and GDP. Types of MSME Loans: MSME financing includes term loans for purchasing assets or funding specific projects, lines of credit offering flexible withdrawal options, and invoice financing to unlock the cash tied up in unpaid invoices. MSME financing includes term loans …

Finance Ministry’s Latest Report Highlights 8% Industrial Growth Trajectory Fuelled by Make in India, PLI & MSMEs
10 months, 3 weeks ago

Finance Ministry’s Latest Report Highlights 8% Industrial Growth Trajectory Fuelled by Make in India, PLI & MSMEs

News 18  

The recently released ‘The Indian Economy – A Review’ by the Department of Economic Affairs, Finance Ministry, has revealed a notable surge in industrial growth, showcasing a likely 8% per annum growth trajectory for the triennium ending March 2024. The report attributes this growth to strategic government initiatives, particularly emphasizing the success of ‘Make in India’, the Production-Linked Incentive scheme, …

The Need to Bolster Institutional Low-Cost Credit to MSMEs
10 months, 3 weeks ago

The Need to Bolster Institutional Low-Cost Credit to MSMEs

News 18  

The Micro, Small and Medium Enterprises are critical to unlocking the potential of India envisioned under the ‘Make in India’ campaign. The Parliamentary Standing Committee on Finance, in its report titled ‘Strengthening Credit Flows to the MSME Sector’, exposes the fact that less than 40 per cent of MSMEs avail credit from formal financial systems, and therefore depend on costly …

Budget 2024: MSME expects special package, implementation of the ONDC to boost growth
10 months, 4 weeks ago

Budget 2024: MSME expects special package, implementation of the ONDC to boost growth

India TV News  

The MSME sector wants Finance Minister Nirmala Sitharaman to come out with a special package for small and medium enterprises to ensure greater availability of institutional credit at competitive rates to enable it to play a bigger role as India moves closer to becoming a USD 5 trillion economy. Expectations include addressing the uneven power dynamic between banks and MSMEs, …

Tamil Nadu Government will support MSMEs to cater to emerging sectors, says Industries Minister T.R.B. Rajaa
1 year, 6 months ago

Tamil Nadu Government will support MSMEs to cater to emerging sectors, says Industries Minister T.R.B. Rajaa

The Hindu  

The State government will do a study of the Micro, Small and Medium-scale Enterprises in the State and take measures to enable these units cater to the emerging sectors, said Minister for Industries, Investment and Commerce T.R.B. On industrial development in the western districts of the State, Mr. Rajaa said availability of land was a major challenge. Regarding development of …

MSMEs not static, but growing in size, asserts Finance Ministry
1 year, 8 months ago

MSMEs not static, but growing in size, asserts Finance Ministry

The Hindu  

The Finance Ministry has sought to dismiss the “narrative” that India’s micro, small and medium enterprises are stagnating, citing data that it asserts shows smaller firms evolving into larger units in recent years. In its recent monthly economic review for February, the ministry had said the number of micro units graduating to small units had increased to 65,140 in 2022-23, …

Govt Working Relentlessly To Ensure Conducive Environment For Small Businesses: MSME Secretary B B Swain
1 year, 9 months ago

Govt Working Relentlessly To Ensure Conducive Environment For Small Businesses: MSME Secretary B B Swain

News 18  

The government is relentlessly working towards ensuring a conducive environment for micro, small and medium enterprises, and the number of registered MSMEs has now reached 1.64 crore generating 10.73 crore jobs, said MSME Secretary B B Swain on Wednesday. The figure of 10.73 crore employment generated is based on self-declaration by MSMEs and the sector is surely on its way …

MSMEs banking high on AP’s New Industrial Policy
1 year, 9 months ago

MSMEs banking high on AP’s New Industrial Policy

Deccan Chronicle  

Vijayawada: The Micro, small and medium enterprises are having high expectations from Andhra Pradesh government’s New Industrial Policy, which is likely to be announced during the ensuing Global Investors Summit. Coinciding with this, MSMEs are urging the state government to set up industrial clusters over 100–1,000 acres in areas of the state that have good transport connectivity and provision of …

MSMEs in Coimbatore demand measures to increase fund availability
1 year, 10 months ago

MSMEs in Coimbatore demand measures to increase fund availability

The Hindu  

Industries, mainly the Micro, Small and Medium-Scale Enterprises in Coimbatore district, have appealed to the Union government for measures that will give financial boost as markets have slowed down and fund availability for the units has taken a hit. President of Indian Chamber of Commerce and Industry, Coimbatore, B. Sriramulu said that since the export markets are facing a slowdown, …

Federal Bank: Redefining banking digitally and sustainably
1 year, 10 months ago

Federal Bank: Redefining banking digitally and sustainably

Live Mint  

Federal Bank is one of the leading and preferred Personal, NRI and business banking partners for customers across India. Strong momentum in credit growth SME book grew by 20% YoY Retail book up by 18% YoY Business banking book up by 18% YoY Corporate book up by 19% YoY Commercial credit book grew by 18% YoY CV/CE business grew by …

Cabinet approves Rs12,882 crore for continuation of development schemes in Northeast
1 year, 11 months ago

Cabinet approves Rs12,882 crore for continuation of development schemes in Northeast

Live Mint  

The Union Cabinet has approved continuation of schemes of Ministry of Development of North Eastern Region with an outlay of ₹12,882 crore, for the balance period of the 15th Finance Commission. Based on the Expenditure Finance Committee recommendations, the outlay for the North East Special Infrastructure Scheme will be ₹8,139.5 crore including committed liabilities of ongoing projects. The MDoNER Schemes …

How do MSMEs hold the key to defining India into becoming a $5 trillion economy?
2 years ago

How do MSMEs hold the key to defining India into becoming a $5 trillion economy?

Live Mint  

Now that the world has emerged from the shadow of the Covid-19 pandemic, it is interesting to note how efficiently the economy at large is recovering from the various setbacks it presented. Extending government support In order to help MSMEs tide over the immediate setback they suffered in the wake of the pandemic, the government extended various relief measures to …

Govt taking steps to make Indian MSMEs stronger, globally competitive: Minister
2 years ago

Govt taking steps to make Indian MSMEs stronger, globally competitive: Minister

India TV News  

Delhi: Micro, small and medium enterprises are among the most important pillars of India's economy and the government is working to make the sector stronger and more developed, Minister of State for MSME Bhanu Pratap Singh Verma said on Monday. "We will also work to ensure that interrelationship between the MSME sector and other important pillars of the Indian economy …

Credit to MSMEs gathers pace, but needs a tech push
2 years, 2 months ago

Credit to MSMEs gathers pace, but needs a tech push

Live Mint  

Bank credit to micro, small and medium enterprises has fluctuated for most of the pandemic. Traditionally, public sector banks led credit disbursement to MSMEs, with a 50% share prior to 2019. iPhone sales in India headed for another record IT companies likely to slash campus hiring in FY24 What lies next for India’s shaky exports story Marico’s Q2 update fails …

49,608 MSMEs registered in State: Minister
2 years, 3 months ago

49,608 MSMEs registered in State: Minister

The Hindu  

As many as 49,608 micro, small, and medium enterprises have registered in the State till Wednesday, Minister for Industries P. Rajeeve has said. Replying during Question Hour in the Assembly on Wednesday, the Minister said the year 2022-23 was being observed as the ‘Year of Entrepreneurship,’ and the target was to start one lakh MSMEs this financial year. “As part …

Biggest challenge to the MSMEs is unavailability of timely capital: MSME Export Promotion Council
2 years, 4 months ago

Biggest challenge to the MSMEs is unavailability of timely capital: MSME Export Promotion Council

Firstpost  

MSME units in rural areas, notably art and craft and agro-based units, are suffering for survival more than MSMEs in metro and urban centres. There is an urgent need for developing alternative sources of funding to solve availability of timely, competitive credit Lucknow: The Micro, Small, and Medium Enterprises Export Promotion Council has advised banks to be more aggressive in …

42,699 MSMEs registered in first four months of current fiscal
2 years, 5 months ago

42,699 MSMEs registered in first four months of current fiscal

The Hindu  

As many as 42,699 micro, small and medium enterprises registered in the State in the first four months of the current fiscal, Minister for Industries P. Rajeeve said. This has helped create 92,855 employment opportunities, Mr. Rajeeve said launching a State-level loan scheme for entrepreneurs formulated by the State Level Bankers' Committee in association with the State government. The State …

Innovations can plug the growth capital gap of MSMEs
2 years, 5 months ago

Innovations can plug the growth capital gap of MSMEs

Live Mint  

India has over 7.9 million micro, small and medium enterprises, as of 27 March 2022, as reported by the MSME Ministry. The credit gap translates into a ‘growth capital gap’, especially for innovative and high-growth MSMEs seeking a radical pivot in their business models or overseas expansion. While RBI will need to make it mandatory for all MSMEs and large …

T.N. Budget 2022-2023: About 48% jump in allocation for MSMEs
2 years, 9 months ago

T.N. Budget 2022-2023: About 48% jump in allocation for MSMEs

The Hindu  

The Tamil Nadu Budget for 2022-2023, presented on Friday, has hiked the allocation for Micro, Small and Medium-scale Enterprises Department by almost 48%. Micro cluster development With a view of helping micro enterprises’ clusters, the Tamil Nadu government would launch a new “Micro Cluster Development Programme”, Finance Minister Palanivel Thiaga Rajan said in the State Legislative Assembly in Chennai on …

Budget 2022: Worst-hit MSME sector stands to benefit from Nirmala Sitharaman’s announcements
2 years, 10 months ago

Budget 2022: Worst-hit MSME sector stands to benefit from Nirmala Sitharaman’s announcements

Firstpost  

Union Budget 2022-23: Credit guarantee trust for MSMEs are set to see a revamp and will ensure the allocation of Rs 2 lakh crore more to the growth of the sector The finance minister delivered a Union Budget that the MSME sector welcomed wholeheartedly, as India is coming out gradually from the reeling impact of COVID-19 pandemic. This would also …

Top 5 government business loan schemes in India in 2022
2 years, 11 months ago

Top 5 government business loan schemes in India in 2022

India Today  

The Government of India initiates various schemes and policies to bring a change in the economic condition of the country. Here is the list of the top 5 government business loan schemes in 2022: Top 5 government business loan schemes in 2022: MSME Loan Scheme The loan was introduced by the Government of India focusing on the working capital loan …

SIDBI Unveils New Term Loan Scheme for MSMEs Hit by Covid-19. Details Here
3 years, 5 months ago

SIDBI Unveils New Term Loan Scheme for MSMEs Hit by Covid-19. Details Here

News 18  

In a bid to provide liquidity boost to COVID-19-hit small and medium scale industries, India’s principal financial institution for MSMEs – Small Industries Development Bank of India has unveiled a revamped version of its liquidity scheme. For its existing customers, SIDBI has brought in LIQUID 2.0 under which it will be providing term loan for the purpose of executing new …

World MSME Day: 5 Govt-Backed Loan Schemes for SMEs, MSEMs in India
3 years, 5 months ago

World MSME Day: 5 Govt-Backed Loan Schemes for SMEs, MSEMs in India

News 18  

The small-scale business sector, also known as Small and Medium Enterprises sector, contributes around 40% to the total GDP of India. Here are the schemes offered by the government – MSME government business loan scheme – The Government of India launched this scheme as a working capital loan, and an MSME can get a loan sanctioned of Rs. MUDRA business …

Union Budget 2021: Key announcements for MSME sector
3 years, 10 months ago

Union Budget 2021: Key announcements for MSME sector

Hindustan Times  

Union finance minister Nirmala Sitharaman on Monday made a provision of ₹15,700 crore for the Micro, Small and Medium Enterprises sector in the Union Budget 2021-22. The finance minister has earmarked ₹15,700 crore for the MSME sector, which is double the capital expenditure prosed in the budget of 2020-2021. The customs duty on semis, flat, and long products of non-alloy, …

SBI will prefer co-origination models of lending to MSMEs: Chairman Dinesh Khara
4 years ago

SBI will prefer co-origination models of lending to MSMEs: Chairman Dinesh Khara

Live Mint  

State Bank of India will prefer the co-origination model to cater to the financing needs of MSMEs and collaboration with fintechs is a good idea as it helps in assessing the risk profile of the borrower in a better manner, its chairman Dinesh Kumar Khara said on Saturday. Pointing out that the Micro, Small and Medium Enterprises are constrained today …

Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman
4 years, 4 months ago

Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman

India TV News  

To provide Rs 50,000 crore equity support to stressed MSME units, a Fund of Funds announced as part of the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package is expected to get operation soon, State Bank of India Chairman Rajnish Kumar said on Monday. The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with …

Advocates, Doctors, CAs Now Covered Under MSME Loan Scheme
4 years, 4 months ago

Advocates, Doctors, CAs Now Covered Under MSME Loan Scheme

Live Law  

The Union Finance Ministry has expanded the scope of the MSME loan scheme announced in the wake of COVID-19 to include professionals like doctors, lawyers, chartered accountants and others, reported the Financial Express.The 3-lakh crore scheme was announced by Finance Minister, Nirmala Sitharaman, in May as part of Government's 'Athmanirbhar package' to help the Micro, Small and. The Union Finance …

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