StayAbode, a start-up that is building co-living spaces, has raised angel funding for an undisclosed amount from a consortium of investors led by Ishan Manaktala and Angie Mahtaney. Gaurav Bhalotia (Ex-VP Engineering, Flipkart), Vishal Lulla (CEO, VIshal Exports) and a group of Investors from Let…
Cibil pegs MSME bad loans at Rs 55k cr; Launches score for them
Mumbai: Warning that the banking industry is staring at a potential stress of nearly Rs 55,000 crore in its MSME exposure, Transunion-Cibil has launched a ranking for small businesses to take care of “information asymmetry”. It estimates the gross non-performing assets ratio for MSMEs…
नोटबंदी के बावजूद जीडीपी ने लगाई ऊंची छलांग, दिसंबर तिमाही में 7% रही वृद्धि दर
चालू वित्त वर्ष की तीसरी तिमाही (अक्टूबर-दिसंबर 2016) में भारत के सकल घरेलू उत्पाद (जीडीपी) के आंकड़ों पर तमाम कयासों के बावजूद नोटबंदी का कोई प्रतिकूल असर नहीं पड़ा। विनिर्माण और कृषि क्षेत्र के अच्छे प्रदर्शन की बदौलत तीसरी तिमाही में आर्थिक विकास की दर उम्मीद से कहीं बेहतर रही। केंद्रीय सांख्य…
Bleeding start-ups stare at a harsh summer; Hand out pink slips to hundreds
The Indian start-up sector is bracing for more job losses as some half-a-dozen midsized companies issue layoff notices to hundreds of employees in a bid to trim costs and conserve cash in what portends to be a harsh summer for an industry struggling to deal with the effects of fast-paced growth. …
SIDBI-CSFB pact to help MSMEs avail loans at cheaper rate
New Delhi: Lender to small industries SIDBI has signed an agreement whereby it will handhold the Capital Small Finance Bank (CSFB) to enable it to provide loans at a concessional rate to MSMEs. The Memorandum of Understanding signed between the Small Industries Development Bank of India (SIDBI) a…
Loans disbursed under Startup India at job mela exclusively for women
A highlight from the job mela was M Ashwini. She received a loan for rupees 1 crore to set up a project in the city manufacturing high density pipes. The loan was provided by the State Bank of Hyderabad under the Centre’s schemes of Startup India and Standup India. The mela was organized by the […
Coming Soon: WhatsApp for small & medium businesses to debut in India
WhatsApp has introduced its revamped Snapchat-esque Stories feature, but that’s not all the Facebook-owned messenger has up its sleeve. The company has now announced it’s working on a new commercial messaging platform specifically for businesses WhatsApp for Business is all about smal…
New digital payment rules may empty start-up wallets
Digital payment companies are tempering their expectations of a bumper growth this financial year. India’s campaign to get more people to transact digitally has boosted transaction volumes for companies such as Billdesk and CCAvenue. But a simultaneous measure to lower the fees that merchan…
Cash crunch is easing, but Indian companies still see no hope of business as usual. Here’s why
Ghaziabad: Struggling with customers unable to pay on time and plummeting sales, small-business owner Ravi Jain fears the government’s crackdown on cash will have a much larger impact than predicted by top policymakers. Jain’s bath taps manufacturing firm Supreme, along with many othe…
Surat to get mega textile park & centre of excellence
The textiles Ministry is positively working on the proposals for a centre of excellence and a mega textile park at Surat, a hub for the man-made fabric industry in Gujarat. The proposal was sent by Southern Gujarat Chamber of Commerce and Industry (SGCCI) to the ministry for establishing a centre…