MSME

Amazon pledges enabling USD 80 billion exports from India by 2030; partners DPIIT

Tue, Dec 10, 2024

E-commerce giant Amazon on Tuesday announced its commitment to enable USD 80 billion in cumulative exports from India by 2030 and said it has partnered with DPIIT to establish India as a global manufacturing hub.

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DFC of US comits $40 million loans to UGRO Capital for MSME funding

Wed, Oct 16, 2024

This investment marks a critical step in UGRO Capital's journey to empower small businesses at the grassroots level and deepen financial inclusion across the country, the NBFC focused on MSME lending said in a statement on Wednesday.

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5 crore MSMEs registered, aim to ramp up credit guarantees by another Rs 5 lakh crore: Centre

Tue, Sep 10, 2024

According to Dr Rajneesh, additional secretary and development commissioner, Ministry of MSME, several MSMEs needed to register with the government, and it was estimated that there were around 6.5-7 crore MSMEs in the economy and only 1.65 crore MSMEs were registered till last year with the government.

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MSME Alert: Narendra Modi govt takes this major step for pottery, beekeeping artisans; migrant labourers to benefit too

Thu, Sep 17, 2020

The Narendra Modi government has issued new guidelines for pottery and beekeeping activities in a major push to help these segments. The move is aimed at rejuvenating the grass root economy to enable the government vision of an AtmaNirbhar Bharat. The move comes after extending the much-needed support to the artisans involved in the Agarbatti business

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MSME Min asks corporates to clear dues of small units on priority

Wed, Sep 16, 2020

The MSME ministry has asked corporates to clear the pending dues of small and medium enterprises on priority as these payments are important for operations and sustenance of jobs in the sector, an official statement said on Monday

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Guj signs MoU with SIDBI to help MSMEs amid outbreak downturn

Wed, Sep 16, 2020

The Gujarat government on Tuesday signed an MoU with the Small Industries Development Bank of India (SIDBI) to increase self-reliance and provide capacity building and market support to the state's 35 lakh micro-small-medium enterprises (MSMEs)

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Groww raises Rs 220 cr in Series C funding round

Thu, Sep 10, 2020

"Our wealth as a nation will keep growing, and our mission is to provide the best experience to investors to manage their wealth. We are happy to partner with investors who believe in our long-term vision," Groww co-founder and CEO Lalit Keshre said. 

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Govt launches Aatmanirbhar Bharat ARISE-Atal New India Challenges programme for MSMEs, start-ups

Thu, Sep 10, 2020

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Banks sanction loans of Rs 1.61 lakh cr to MSMEs under credit guarantee scheme

Tue, Sep 08, 2020

"As of 3 Sept 2020, the total amount sanctioned under the 100% Emergency Credit Line Guarantee Scheme by #PSBs and private banks stands at Rs 1,61,017.68 crore, of which Rs 1,13,713.15 crore has already been disbursed," the finance minister said in a tweet.  

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'Fragrant Push': IITs to help make 'agarbatti' sector self-reliant

Mon, Sep 07, 2020

The Centre has also decided to set up 10 clusters with proper marketing linkages under SFURTI (Scheme of Fund for Regeneration of Traditional Industries) scheme of the MSME Ministry at a total cost of about Rs 50 crore.  

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Umbrella PLI scheme proposed to replace MEIS, promote domestic manufacturing

Sun, Sep 06, 2020

The government proposes to introduce an umbrella production-linked incentive (PLI) scheme with an allocation of about Rs 40,000 crore to replace the existing Merchandise Exports India Scheme (MEIS) scheme introduced in April 2015 to promote manufacturing and exports of specified goods from India.

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MSME alert! Udyam Portal registration is FREE - Don't fall prey to fake websites

Tue, Aug 25, 2020

Secretary in the MSME Ministry AK Sharma has emphasised that the process for registration of MSMEs through the government website Udyam portal is absolutely free and cautioned the public not to fall prey to fake websites.

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

Mon, Aug 10, 2020

The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs.

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MSMEs alert! Seamless sharing of certain Income Tax Return (ITR) related information - Check details of CBDT memorandum

Tue, Jul 21, 2020

In a major development, a formal Memorandum of Understanding (MOU) was signed today between the Central Board of Direct Taxes (CBDT) and the Ministry of Micro, Small and Medium Enterprises, Government of India (MoMSME) for sharing of data by CBDT to MoMSME.

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Emergency Credit Line Guarantee Scheme (ECLGS): Over Rs 19k crore sanctioned to 71 MSMEs

Sun, Jul 19, 2020

The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman last month.

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Large number of MSMEs approaching banks for collateral-free loans: Survey

Mon, Jul 13, 2020

Large number of businessmen in the MSME sector have approached banks for collateral-free loans to tide over the crisis following coronavirus outbreak, a Care Ratings survey said.

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World Bank offers $750 mn loan for India's covid-hit MSMEs

Wed, Jul 01, 2020

The statement said that the World Bank Group, including its private sector arm - the International Finance Corporation (IFC), will support the government's initiatives to protect the MSME sector by unlocking liquidity and strengthening NBFCs and small finance banks and enabling financial innovations.

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Karnataka to build industrial townships for MSMEs

Sun, Jun 28, 2020

Karnataka would soon set up industrial townships near cities for more micro, small and medium enterprises (MSMEs) in the southern state, said state industries minister Jagadish Shettar on Saturday.

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Emergency Credit Line Guarantee Scheme: No risk weight! What RBI wants lenders to do for MSMEs

Mon, Jun 22, 2020

In a major development, the RBI has said that lending institutions should assign zero per cent risk weight on the credit facilities extended under the Emergency Credit Line Guarantee Scheme to MSME borrowers announced by the government in the wake of COVID-19 pandemic

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Ensure effective rollout of Rs 3-lakh crore ECLGS for MSMEs: FM to pvt banks

Mon, Jun 15, 2020

Under the scheme, 100 per cent guarantee coverage are being provided by National Credit Guarantee Trustee Company (NCGTC) for additional funding of up to Rs 3 lakh crore to eligible MSMEs and interested Micro Units Development and Refinance Agency (MUDRA) borrowers in the form of a guaranteed emergency credit line (GECL) facility.

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Decriminalisation of minor offences to improve ease of doing biz, say experts

Thu, Jun 11, 2020

The decriminalisation measures need to be viewed from three different perspectives- ease of doing business; relief to beleaguered MSMEs and companies affected by lockdown and COVID-19; and easing the stress on the National Company Law Tribunal (NCLT), said Atul Pandey, Partner, Khaitan & Co.

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After 14 years! New norms of classification of MSMEs for Aatmanirbhar Bharat - All you need to know

Thu, Jun 04, 2020

Modi government-led Ministry of MSME is gearing up to implement the New Norms of classification of MSMEs.

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Cabinet meeting decisions - MSME definition: Entities with up to Rs 250 cr turnover, excluding exports, to be medium enterprises

Mon, Jun 01, 2020

As per the new changes, businesses with investment of less than Rs 1 crore and turnover of Rs 5 crore would be classified as micro enterprises. Under the existing criteria, a company with investment of less than Rs 25 lakh in the manufacturing sector and less than Rs 10 lakh in the services sector were considered micro enterprises.

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