Instamojo disburses ₹110 crore in small loans to MSMEs within a year
5 years, 4 months ago

Instamojo disburses ₹110 crore in small loans to MSMEs within a year

Live Mint  

Bengaluru: Instamojo Technologies Pvt. Ltd, a payment platform that caters to micro, small and medium enterprises, has disbursed around ₹110 crore worth of ‘sachet loans’ worth ₹10,000-12,000 to MSMEs, within 12 months after the launch of this service, according to a top company executive. MSMEs usually depend on unorganized sources like self-help groups, friends, families, to get quick working loans, however, once the quantum of sales and customers increase, small merchants start reaching to banks and NBFCs for large credit loans. Unlike large corporations, SMEs don’t have forecasting software to forecast sales and the inability to make inventory purchases upfront without sale orders in place is a challenge for small and medium merchants,” said Swain Rather than waiting for the next big sale order, an MSME can take a quick working capital loan from MojoCpaital to the tune of its’ last order value and get it deposited instantly into their bank account. “Because we know that a particular merchant applying for a loan already has pending money to be received from their last sale via Instamojo, the credit scoring is done instantly from our records, and the recovery of the loan is made as soon as the pending payment comes in,” added Swain.

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Government to soon launch new credit guarantee scheme for MSME sector up to ₹100 crore
6 days, 22 hours ago

Government to soon launch new credit guarantee scheme for MSME sector up to ₹100 crore

The Hindu  

Financial Services Secretary M Nagaraju on Thursday said the government would soon launch a new credit guarantee scheme for the MSME sector covering loans up to ₹100 crore. "We are likely to come up with a scheme, which was announced by Finance Minister in her last Budget, that could provide loans up to ₹100 crore without guarantee, if they are …

Top 10 MSME Loan Schemes in India for Growth and Expansion
1 week, 2 days ago

Top 10 MSME Loan Schemes in India for Growth and Expansion

India TV News  

Substantial steps have been taken by the Indian government and financial institutions to provide adequate loans for micro, small, and medium enterprises to foster growth without interruption. 3. Credit Guarantee Fund Scheme for Micro and Small Enterprises Small businesses often lack collateral when applying for loans, making them considered high-risk borrowers, which can result in loan application denials. To assist, …

India: MSMEs Need Boost in Credit Access: Assocham
1 month, 2 weeks 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 …

Ujjivan to Sell Rs 270 Cr of Bad MFI Loans
2 months ago

Ujjivan to Sell Rs 270 Cr of Bad MFI Loans

Deccan Chronicle  

Mumbai: Ujjivan Small Finance Bank on Friday said it is looking to sell Rs 270 crore worth of non-performing and written-off micro-banking loans to asset reconstruction companies. Of the Rs 270 crore worth of loans, around Rs 208 crore are non-performing loans, and the remaining Rs 62.36 crore worth of loans have been written off by the bank. In the …

Nirmala Sitharaman Announces Game-Changing Collateral-Free Loan Scheme for MSMEs
2 months 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
2 months 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
2 months 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’
4 months 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, 4 weeks 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 …

MUDRA loan limit hike, credit guarantee scheme for MSMEs
5 months, 3 weeks ago

MUDRA loan limit hike, credit guarantee scheme for MSMEs

New Indian Express  

NEW DELHI: In their efforts to revitalise the ailing MSME sector, the backbone of the Indian economy and creator of crores of jobs, the NDA government has come up with a slew of reforms. Finance Minister Nirmala Sitharaman on Tuesday informed that the government is increasing the limit for MUDRA loans for Micro, Small and Medium Enterprises from Rs 10 …

How New Mudra Loan Limit Of Rs 20 Lakh Will Support MSMEs, Who Can Avail The Scheme
5 months, 3 weeks ago

How New Mudra Loan Limit Of Rs 20 Lakh Will Support MSMEs, Who Can Avail The Scheme

News 18  

In the Budget 2024, Micro, Small, and Medium Enterprises will now be able avail loans of up to Rs 20 lakh instead of the current Rs 10 lakh under the Mudra scheme, finance minister Nirmala Sitharaman said on Tuesday. During the interim budget presentation earlier this year, the government extended 43 crore loans aggregating to Rs 22.5 lakh crore under …

SBI launches online quick loan solution for MSMEs
6 months, 2 weeks ago

SBI launches online quick loan solution for MSMEs

Live Mint  

Mumbai:Lender State Bank of India has unveiled a web-based digital business loans solution for MSMEs' Invoice Financing, aimed at facilitating MSME loans with a fast turn-around-time. The solution, named "MSME Sahaj - End to End Digital Invoice Financing", has been developed that will provide solutions ranging from applying the loan, documentation and disbursement of the sanctioned loan within 15 minutes, …

Tax treatment of delayed payments to micro, small businesses in for a tweak
6 months, 2 weeks ago

Tax treatment of delayed payments to micro, small businesses in for a tweak

Live Mint  

NEW DELHI : The government introduced a tax provision last year to prod large corporations into paying their micro and small enterprise vendors in time, only to hear concerns that it could backfire on the intended beneficiaries. Policymakers, however, became worried that while the provision was meant to encourage timely payments to small businesses, large companies could refuse to do …

Loan Ticket Size of MSMEs Rise After Pandemic
11 months, 1 week ago

Loan Ticket Size of MSMEs Rise After Pandemic

Deccan Chronicle  

Chennai: Post-Covid, the ticket size of loans by lenders to MSMEs has increased while approval rates have fallen. The average ticket size of loans offered by public sector banks has risen from Rs 12.6 lakh to Rs 15.1 lakh between Q2, 2022 to Q4, 2023. Approval rates in PSU banks for medium-risk companies are down from 58 per cent in …

Finance Ministry’s Latest Report Highlights 8% Industrial Growth Trajectory Fuelled by Make in India, PLI & MSMEs
11 months, 2 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
11 months, 2 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 …

Credit to MSMEs gathers pace, but needs a tech push
2 years, 3 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 …

How MSMEs can procure NBFC loans without mortgaging assets
2 years, 3 months ago

How MSMEs can procure NBFC loans without mortgaging assets

India TV News  

For MSMEs, sustained funding represents the difference between success and failure. Advent of Cash Flow-based Lending However, the advent of cash flow-based lending has made it much easier for MSMEs to procure credit, although at a somewhat higher interest rate to cover the extra risk of lenders. While new-age lenders such as NBFCs and fintech firms were the first to …

Top 5 government business loan schemes in India in 2022
3 years 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 …

Personal Loan of up to Rs 10 lakh with Easy Tenure Available in a Minute. Know Details
3 years, 6 months ago

Personal Loan of up to Rs 10 lakh with Easy Tenure Available in a Minute. Know Details

News 18  

Ujjivan Small Finance Bank, on Tuesday, announced that it would be undertaking a strategic partnership with a leading digital lender and fintech platform, LoanTap. Add to this the fact that Ujjivan Small Finance Bank offers personal loans ranging from Rs 1 lakh to Rs 10 lakh with a maximum tenure of 48 months on LoanTap’s platform, and it becomes clear …

World MSME Day: 5 Govt-Backed Loan Schemes for SMEs, MSEMs in India
3 years, 6 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 …

Yes Bank aims to disburse ₹10,000 cr retail, MSME loans in Dec quarter
4 years, 1 month ago

Yes Bank aims to disburse ₹10,000 cr retail, MSME loans in Dec quarter

Live Mint  

Yes Bank aims to disburse retail and small business loans worth ₹10,000 crore in the current quarter of the financial year and plans to expand the portfolio to over 60% of its loan book by 2023, a top official said on Tuesday. Following the road map to become a truly digital retail bank, we are innovating constantly to meet these …

Paytm to double loan disbursement to Rs 1,000 cr for MSMEs
4 years, 2 months ago

Paytm to double loan disbursement to Rs 1,000 cr for MSMEs

India TV News  

Financial services platform Paytm on Monday announced to double its loan disbursements for the micro- and small and medium enterprises from Rs 550 crore in last fiscal year to Rs 1,000 crore by March 2021. "With our collateral-free instant loans, we are trying to help kirana stores and other small business owners who have been left behind by the traditional …

Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman
4 years, 5 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 …

Credit guarantee extended to larger firms, self-employed
4 years, 5 months ago

Credit guarantee extended to larger firms, self-employed

The Hindu  

The Centre has expanded its credit guarantee scheme for micro, small and medium enterprises to cover loans given to larger firms, as well as to self-employed people and professionals who have taken loans for business purposes, Finance Minister Nirmala Sitharaman said on Saturday. ₹87,000 crore disbursed So far, banks have approved ₹1.36 lakh crore worth of loans to 40 lakh …

PSU lenders are working to help MSMEs get easy loans
4 years, 6 months ago

PSU lenders are working to help MSMEs get easy loans

Live Mint  

Acknowledging that there is a disconnect between lending policies to micro, small and medium enterprises drafted by senior bank officials, and implementation at the branch level, public sector banks are now offering help to business owners to navigate through periods of stress. The MSME sector had a lot of sick units even before covid-related challenges at the operating level and …

MSMEs to bear the brunt of negative economic growth, says Crisil
4 years, 7 months ago

MSMEs to bear the brunt of negative economic growth, says Crisil

Live Mint  

MUMBAI: Micro, small and medium enterprises, across sectors, will be severely impacted when the Indian economy contracts this fiscal, according to credit rating agency, Crisil. The agency has predicted a 5% contraction and said as India Inc heads towards a 15% decline in revenue and 25% fall in earnings before interest, taxes, depreciation and amortisation, MSMEs will see a steeper …

Govt launches Rs 5,000-cr special credit facility for street vendors; here's all you need to know about Rs 10,000 loan scheme
4 years, 7 months ago

Govt launches Rs 5,000-cr special credit facility for street vendors; here's all you need to know about Rs 10,000 loan scheme

Firstpost  

In order to revive businesses of street vendors that have taken a serious hit due to the COVID-19 lockdown, the Centre has launched a special micro-credit facility amounting to a total of Rs 5,000 crore that will provide them Rs 10,000 as initial working capital In order to revive businesses of street vendors that have taken a serious hit due …

Eligible MSMEs to get offer of pre-approved loan under relief package
4 years, 7 months ago

Eligible MSMEs to get offer of pre-approved loan under relief package

The Hindu  

Eligible MSME borrowers will get an offer from their lending institutions for a pre-approved loan under the ₹3 lakh crore scheme announced for micro, small and medium enterprises to help them deal with the impact of COVID-19. As per a set of FAQs, GECL is a loan for which 100% guarantee would be provided by National Credit Guarantee Trustee Company …

Bank of Maharashtra sanctions Rs 2,789 cr loans to MSMEs, others
4 years, 7 months ago

Bank of Maharashtra sanctions Rs 2,789 cr loans to MSMEs, others

India TV News  

State-owned Bank of Maharashtra on Sunday said it has sanctioned loans worth Rs 2,789 crore to MSME, self-help group, agricultural and retail borrowers to help them meet their liquidity mismatches caused due to coronavirus crisis over the last three months. "We have sanctioned loans amounting to Rs 2,789 crore under agriculture, SHGs, Retail, MSMEs with almost one lakh beneficiaries between …

Bank of Baroda to offer up to Rs 12 thousand crore loans to MSMEs under credit guarantee scheme
4 years, 7 months ago

Bank of Baroda to offer up to Rs 12 thousand crore loans to MSMEs under credit guarantee scheme

India TV News  

State-run Bank of Baroda on Saturday said it can offer up to Rs 12,000 crore in loans to MSMEs under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme announced by the government. Last week, Finance Minister Nirmala Sitharaman had announced a 100 per cent credit guarantee scheme worth Rs 3 lakh crore to support the medium, small and …

Govt notifies changes in rules disallowing global tender for procurement up to Rs 200 cr; move to benefit MSMEs
4 years, 7 months ago

Govt notifies changes in rules disallowing global tender for procurement up to Rs 200 cr; move to benefit MSMEs

Firstpost  

The government has notified amendments to General Financial Rules to ensure that goods and services valued less than Rs 200 crore are being procured from domestic firms, a move which will benefit MSMEs New Delhi: The government has notified amendments to General Financial Rules to ensure that goods and services valued less than Rs 200 crore are being procured from …

PSBs sanction Rs 6.45 lakh crore loans to support MSMEs, other affected sectors
4 years, 7 months ago

PSBs sanction Rs 6.45 lakh crore loans to support MSMEs, other affected sectors

India Today  

Finance Minister Nirmala Sitharaman’s office on Tuesday said in a tweet that Public Sector Banks have sanctioned Rs 6.45 lakh crore in loans to smaller businesses, retail, agriculture and corporate sectors during from March 1 to May 15. A tweet from Finance Minister Nirmala Sitharaman’s office said, “Loans worth over Rs 6.45 lakh crore were sanctioned by PSBs during March …

Bankers welcome economic package announced by govt, say will encourage lending to MSMEs
4 years, 8 months ago

Bankers welcome economic package announced by govt, say will encourage lending to MSMEs

Firstpost  

The various initiatives announced by the government on Wednesday to support micro, small and medium enterprises will encourage banks to lend more to the sector, bankers said Mumbai: The various initiatives announced by the government on Wednesday to support micro, small and medium enterprises will encourage banks to lend more to the sector, bankers said. “The measures for MSME through …

10 Key Takeaways | FM Nirmala Sitharaman Unveils First Part Of Rs 20 Lakh Cr Economic Stimulus
4 years, 8 months ago

10 Key Takeaways | FM Nirmala Sitharaman Unveils First Part Of Rs 20 Lakh Cr Economic Stimulus

ABP News  

New Delhi: First in the series of press briefings over Prime Minister Narendra Modi's mega 'Atmanirbhar Bharat Abhiyan', Finance Minister Nirmala Sitharam on Wednesday unveiled the details of the special economic package worth Rs 20 lakh crore. For MSMEs needing handholding, Government announced Rs 50,000 crore Fund of Funds through mother fund - daughter fund to expand their capacity and …

FM announces Rs 3 lakh crore collateral free automatic loan for MSMEs
4 years, 8 months ago

FM announces Rs 3 lakh crore collateral free automatic loan for MSMEs

Hindustan Times  

Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs. Also units with turnover up to Rs 5 crore to be called micro units, she said, adding a turnover based criteria is being introduced to define small businesses. This will benefit 45 lakh small businesses, she said detailing parts of the …

FM Nirmala Sitharaman announces collateral free automatic loans for MSMEs
4 years, 8 months ago

FM Nirmala Sitharaman announces collateral free automatic loans for MSMEs

India TV News  

As the country battles coronavirus pandemic, Finance Minister Nirmala Sitharaman has announced Rs 3 lakh crores collateral-free automatic loans for Micro Small Medium Enterprises sector. Her press conference came a day after PM Narendra Modi announced stimulus package of Rs 20 lakh crore to rejuvenate Indian economy battered badly due to coronavirus pandemic. Check out details of the announcement made …

Watch: Finance Minister Nirmala Sitharaman briefs media on economic package
4 years, 8 months ago

Watch: Finance Minister Nirmala Sitharaman briefs media on economic package

Op India  

Finance Minister Nirmala Sitharaman addressed media today on the economic package for the Atmanirbhar Bharat Abhiyan. Boost to MSMEs Union Finance Minister Nirmala Sitharaman on Wednesday unveiled the details of the Rs 20 lakh crore economic package under ‘Atmanirbhar Bharat Abhiyan’ announced by Prime Minister Narendra Modi in his address to the nation on Tuesday night. Finance Minister Nirmala Sitharaman …

Finance Minister Nirmala Sitharaman postpones meet with PSB chiefs to later this week
4 years, 8 months ago

Finance Minister Nirmala Sitharaman postpones meet with PSB chiefs to later this week

Firstpost  

Public sector banks have sanctioned loans worth Rs 42,000 crore to the MSME sector and corporates since the start of the lockdown. New Delhi: Finance Minister Nirmala Sitharaman review meeting with CEOs of public sector banks scheduled for Monday afternoon has been postponed. @FinMinIndia — Nirmala Sitharaman Office May 9, 2020 Sitharaman also said state-owned banks have sanctioned loans worth …

Payment of wages by MSMEs: Govt mulls credit guarantee scheme for loans
4 years, 8 months ago

Payment of wages by MSMEs: Govt mulls credit guarantee scheme for loans

India TV News  

As part of a stimulus package for the coronavirus-hit economy, the government is working on a credit guarantee scheme to enable banks to provide additional 10-15 per cent working capital to MSMEs for payment of wages, sources said. Currently, banks are offering an extra line of credit of 10 per cent based on working capital limits, which the government intends …

SBI to disburse Rs 700 cr to Mumbai circle MSMEs by June-end
4 years, 8 months ago

SBI to disburse Rs 700 cr to Mumbai circle MSMEs by June-end

India TV News  

State Bank of India, the country's largest lender, has set a target of disbursing Rs 700 crore to MSMEs in the Mumbai circle by the end of June, to help them tide over liquidity crisis due to the COVID-19 lockdown. "SBI will boost flow of credit to MSMEs in this challenging period by reassessing their working capital limit and also …

No stressed MSME loan can be declared NPA till March 2020; govt asks banks to hold loan melas in 400 districts from 3 Oct
5 years, 3 months ago

No stressed MSME loan can be declared NPA till March 2020; govt asks banks to hold loan melas in 400 districts from 3 Oct

Firstpost  

Bank loan disbursements to the MSME sector stood at Rs 11.83 lakh crore in 2018-19, as against Rs 8.53 lakh crore done in 2017-18 New Delhi: In a bid to boost lending, the government on Thursday asked public sector banks to hold ’loan melas’ in 400 districts to lend to desirable shadow banks and retail borrowers, and said no stressed …

PNB sanctions debt worth ₹689 cr to 1,600 MSMEs via 59minute loan portal
5 years, 10 months ago

PNB sanctions debt worth ₹689 cr to 1,600 MSMEs via 59minute loan portal

Live Mint  

State-owned Punjab National Bank has sanctioned loans worth ₹689 crore to over 1,600 Micro, Small and Medium Enterprises through the psbloansin59minutes.com portal as part of its effort to promote such industries. Under this initiative, the bank has sanctioned loans to over 1,600 accounts with total sanctioned amount of ₹689 crore," PNB managing director Sunil Mehta told PTI. With regard to …

Bad loans under Pradhan Mantri Mudra Yojana stands at Rs 7,277 cr till March 2018
5 years, 11 months ago

Bad loans under Pradhan Mantri Mudra Yojana stands at Rs 7,277 cr till March 2018

Firstpost  

Loans extended under PMMY from inception of the scheme up to March 2018 by all member lending institutions were Rs 5.71 lakh crore, New Delhi: The government on Tuesday informed Parliament that loans worth Rs 7,277.31 crore of public sector banks under Pradhan Mantri Mudra Yojana have turned bad at the end of March 2018. Loans extended under PMMY from …

Increased govt. sourcing, 2% subvention for loans a boost for MSMEs
5 years, 11 months ago

Increased govt. sourcing, 2% subvention for loans a boost for MSMEs

The Hindu  

The micro, small and medium enterprises sector, the cornerstone of Indian economy, has got a boost in the Interim Budget, with the government offering 2% subvention for loans up to ₹1 crore and extending the Government eMarketplace platform to support domestic services and trade. Most importantly, the government has opened a new market for the home-grown entrepreneurs by allowing sourcing …

MUDRA Yojana: The elixir for the MSME sector which is fuelling job growth
5 years, 11 months ago

MUDRA Yojana: The elixir for the MSME sector which is fuelling job growth

Op India  

What started with a clarion call from the Prime Minister to understand the ‘energy’ of nation’s entrepreneurial workforce, MUDRA Yojana has ever since been promoting small businesses and fuelling job growth. Government’s flagship scheme Pradhan Mantri MUDRA Yojana was launched in 2015 and is being perceived as an elixir for the MSME sector, accounting for 90% of total number of …

Instamojo raises funding from Japan’s Gunosy, Kalaari, others
5 years, 11 months ago

Instamojo raises funding from Japan’s Gunosy, Kalaari, others

Live Mint  

Bengaluru: Online payments company Instamojo Technologies Pvt. Ltd on Wednesday said it has raised ₹ 50 crore in a Series B funding round from Japan’s Gunosy Capital and other investors. Existing investors including Japanese payments firm AnyPay, Kalaari Capital, Beenext Pte Ltd, and Rashmi Kwatra—founder of Singapore-based Sixteenth Street Capital—also participated in the round. From that background, Instamojo has been …

Central bank’s MSME loan recast to help lower lenders' credit cost; move to improve fund flow to sector: Report
6 years ago

Central bank’s MSME loan recast to help lower lenders' credit cost; move to improve fund flow to sector: Report

Firstpost  

The report, however, said the restructuring scheme may encourage some MSME borrowers, who are otherwise operating satisfactorily, to opt for the scheme and thus impair the credit discipline. Mumbai: The Reserve Bank of India’s special loan restructuring scheme for stressed but standard Micro, Small and Medium Enterprises accounts may give some relief to the lenders on their bad loan recognition …

The need for a boost to MSME sector
6 years, 2 months ago

The need for a boost to MSME sector

Live Mint  

Prime Minister Narendra Modi’s Diwali package for micro, small and medium enterprises may be late in the day, but it’s nevertheless a boon, particularly the interest subvention and the measures to see that bills are paid on time. According to the MSME Pulse report, for public sector banks, the level of non-performing assets among MSMEs went up from 13% in …

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