Reserve Bank has included factoring transactions under priority sector lending with an aim to increase cash flow to small and medium enterprises. “To increase liquidity support for the MSME sector, it has been decided that factoring transactions on ‘with recourse’ basis shall be…
Amendment to Companies Act will help boost fund flow for MSMEs: Arun Jaitley
Finance Minister Arun Jaitley has said amendments to the Companies Act 2013 being considered by Parliament will help ease institutional fund flow to small businesses, acknowledging this has been an issue with the MSME sector that has also not received adequate policy attention. “There were …
Fintech start-up hires from Infosys, Edelweiss
Fintech company EarlySalary.com, a mobile-based firm that gives instant credit, has appointed Vivek Jain from Infosys as its new CTO. He will be based in Pune and lead the technology initiatives for the start-up. EarlySalary had appointed Vimal Saboo of Edelweiss group as chief business officer e…
Agri-marketing start-up uses existing retailers to sell veggies
In a unique model that could bridge the huge gap between farm-gate and consumer prices, an agri-marketing start-up, Sabziwala, has started selling pre-packed, pre-weighed and pre-priced vegetables in west Delhi through street vendors, kirana shops and milk stores. The vegetables procured directly…
Sillicon Valley Company Innovaccer has raised $15.6 million funds
Silicon Valley-based big data startup Innovaccer has raised $15.6 million in series-A funding led by Westbridge Capital Partners. The round also saw participation from other angel investors including former Yahoo Chief Technical Officer Raymie Stata, founder of Route Science Technologies Herb Mad…
Qatar Fund may back RMZ Scion’s co-working startup
A young scion at one of India’s largest commercial space developers is challenging WeWork, a heavily funded US startup focused on technology-enabled shared office spaces and which is finalizing its entry into the country. The 26-year-old Sidharth Menda of Bengaluru-headquartered RMZ Corp is…
FarEye platform stretches as far as Europe & Australia
FarEye, a mobility platform for business operations, has expanded to the Australian and European markets, partnering with Australia-based order fulfilment company National Products Fulfilment and Belgian private postal company TBC Post. FarEye recently closed a Series-A funding round, with SAIF P…
Analytics firm Zeta to invest $50 million in acquisitions
American big data and analytics firm Zeta Interactive plans to spend $10-50 million as it scouts for acquisitions in India. The Blackstone-backed company, which is valued at $1 billion, plans to buy out an Indian firm that will help it get on board local clients in sectors such as financial servi…
Handicraft exports see 8.46% increase in 2015-16: Smriti Irani
India’s handicraft exports have increased by more than 8 per cent during the last fiscal, touching nearly Rs 31,000 crore, Textiles Minister Smriti Irani said in Lok Sabha. “According to the provisional data available, the exports of handicrafts have shown an increase of Rs 2,414.79 c…
GST to improve ease of doing business: Jaitley
Union Finance and Corporate Affairs Minister Arun Jaitley said that the Goods and Services Tax regime, once implemented, will improve the ease of doing business in the country. Jaitley, who was speaking after launching two new initiatives for entrepreneurs by the Ministry of Micro, Small and Medi…