Gurgaon-based fusion burger chain Burger Singh has secured additional investment taking the total fund raise to USD 1 million. The company plans to use the proceeds of the investment to expand beyond south Delhi and Gurgaon. As part of larger expansion strategy, owner of the chain Tipping Pink pl…
SMEs hit hard by the trade finance gap globally
A recent report by Asian Development Bank (ADB) Brief said that Small and Medium Enterprises (SMEs) face the greatest obstacles in accessing affordable trade financing. Globally, 57% of trade finance requests by SMEs are rejected, against just 10% for multinational companies. High rejection rates…
Rs 40 cr for coir workers’ pension
The government of Kerala has sanctioned Rs 40.01 crore to the Coir Workers’ Welfare Board towards disbursal of pension to workers. As many as 66,000 workers are eligible for pension under the board’s scheme. Distribution of pension, at the new rate of Rs.1,000 a month, has already commenced. The …
TopRankers raises Rs 4.5 cr from Careernet Consulting
Digital education portal TopRankers on September 8 announced that it has raised Rs 4.5 crore from Careernet Consulting and Ideation Initiative Pvt. Ltd. The company will use the funds for improving technology and geographic expansion in India. Founded by Gaurav Goel, Malay Sarkar, Mehbub Hussain,…
SMEs raise Rs 185 cr through IPOs in FY’17
Riding on upbeat market sentiment, as many as 23 Small and Medium Enterprises (SMEs) got listed on capital markets with initial public offerings worth Rs 185 crore in the current fiscal. In comparison, 44 SMEs raised a total of Rs 290 crore in the entire last financial year (2015-16). “Indi…
Many reforms coming, GST will get SMEs into value chain: Economic Affairs Secretary
Committing to “many more reforms”, a top Finance Ministry official said implementation of the Goods and Services Tax (GST) will bring Small and Medium Enterprises (SMEs) into the national value chain. “The government is aware that many more reforms need to be taken. After implem…
MUDRA lends over Rs 42,000 crore in 5 months
Prime Minister Narendra Modi’s pet project, Micro Units Development & Refinance Agency (MUDRA), has disbursed over Rs 42,000 crore in the five months of this financial year. This is one fourth of its annual target of Rs 1,80,000 crore. The lending agency’s disbursals nearly double…
DST commits 500 crores for PM’s vision on Startup India
NIDHI (National Initiative for Development and Harnessing Innovations), an umbrella program is pioneered by the Department of Science & Technology(DST), Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups. In order to reali…
TV Mohandas Pai wants to build an ‘ecosystem’ of funds
TV Mohandas Pai, a prolific angel investor and an outspoken commentator on civic issues, is occupied nowadays with creating an investment empire straddling an assortment of asset classes. Ultimately, Pai, who in his post-Infosys avatar has focused mostly on early-stage investments in technology s…
Govt taking a relook at ‘Free Trade Agreements’: Nirmala Sitharaman
Government is reviewing FTAs that India has signed with trading partners after the industry voiced concerns about benefits of these pacts for domestic players. Commerce and Industry Minister Nirmala Sitharaman said many industry representatives have conveyed that free trade agreements (FTAs) sign…