Ludhiana alone is estimated to create around 3-lakh job opportunities for skilled workforce by 2022, stated a survey conducted by Rockman Industries, India’s leading auto components manufacturer, and Ernst & Young (EY). The survey revealed that vocational training and skills training wo…
After SMEs, HDFC bank mulls digital services for big corporate
After launching comprehensive digital banking services for small and medium-sized enterprise (SME) clients on June 30, private sector lender HDFC Bank is now working on doing the same for its large corporate clients, country head – business banking — Aseem Dhru told. With the launch on June 30, t…
Competition among banks will cut SME borrowing cost: IMC President
The cost of funding for Micro, Small and Medium Enterprises (MSMEs) can be bought down substantially by unleashing competition among banks. Removing restrictions on foreign banks opening more branches will do the trick, said Deepak Premnarayen, President-elect, Indian Merchant Chamber, said . Dis…
Deposit norms relaxed to help startups raise funds
In order to make it easier for startups to secure funding, the government has exempted any advance of more than Rs 25 lakh to a startup from being treated as deposit provided that the person giving the money does it in the form of convertible note. According to the Companies Act of 2013, any comp…
MasterCard invests in online payment gateway solution ‘Razorpay’
American payments and financial services company MasterCard has invested an undisclosed amount in Razorpay, an online payment gateway solution for Small and Medium Enterprises and platforms. The equity-based investment in the company backed by Tiger Global is MasterCard’s second investment.…
CISCO to partner Indian startups, developers for smart solutions
Technology giant Cisco on June 30 announced its new ‘LaunchPad’ initiative under which it will partner with developers and enterprises in India to co-develop smart solutions. “Cisco’s teams will mentor start-ups and developers on how to help create digital solutions to enable enterprise customers…
Bank NPAs in Gujarat cross Rs 25,000 crore mark
Banks in Gujarat are seeing a “drastic jump” in the quantum of bad loans. In March this year, the Non-Performing Assets (NPAs) for the banks in the state have crossed the Rs 25,000 crore mark, with MSMEs forming the largest chunk of this NPA-pie. The latest report of the State Level Bankers’ Comm…
MSME Secretary launches India’s first commonwealth SME Association
Ministry of MSME Secretary K K Jalan launched India’s Commonwealth SME Association to focus on linking Indian exporters to the suppliers from LDCs. The Commonwealth SME Association, a joint initiative of industry body FISME and Commonwealth Secretariat, London, would provide a sustainable platfor…
RBI empowered committee reviews MSME credit aims to offer solutions to its woes
In a forum to review the credits of select start-ups, Reserve Bank of India (RBI) at its Empowered Committee meet on Medium Small and Micro Enterprises (MSME) here on Wednesday had invited a clean energy start-up Avant Garde Innovations being the first in the UN campaign for environmental sustain…
E-commerce platform can give SMEs access to global markets: Rita Teaotia
E-commerce platform is fast emerging as a new trend in global trade and SMEs should use this medium to get direct access to the world markets, a top government official said today. Commerce Secretary Rita Teaotia said the e-commerce platform significantly reduces the interference of middleman and…