Government approved the revision in guidelines of the Performance in Credit Rating Scheme, aiming to increase its credibility and effectiveness for both borrowers and banks. Under the revised guidelines, the fee to be paid to the rating agencies shall be based on the turnover of the Micro and Sma…
Government’s approach has been to set the fundamentals right and a reform-to-transform approach| Piyush Goyal
Singapore, 24 May 2016: Piyush Goyal, Minister of State (IC) for Power, Coal, New & Renewable Energy, Govt. of India addressed an august gathering including leading investors, energy companies and energy technology companies at the India-Singapore Energy Technology and Investors’ Meet on las…
Pro-MSME schemes to boost potential of North East region
Micro, Small and Medium Enterprsises (MSME in Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura – the ‘seven sisters’ that make up the North Eastern Region (NER) – stand to benefit from central government initiatives to encourage entrepreneurship…
Mahindra Finance to raise Rs 1000 cr from NCDs
Mahindra Finance said it will raise Rs 1,000 crore through retail bond sale. The public issue of thecthe first from the company, will open on May 25 and closes on June 10, said the NBFC from the Mahindra group. Mahindra Finance Vice Chairman and Managing Director Ramesh G Iyer said it is their ma…
Need for tweaking laws and rules for preventing NPAs in MSMEs
The Micro, Small and Medium Enterprises (MSMEs) are the largest vendors for the Union and State governments in defence, aeronautics, electronics, safe drinking water equipment and services, medical and pharmaceuticals, solar equipment and servicing. The MSME Development Act (MSMED) also provided …
Alibaba to set up India data centre to take on Amazon
Chinese e-commerce giant Alibaba Group is poised to announce its India entry with a data centre. The Hangzhou-headquartered company, which is planning to enter the fledgling e-commerce market in India this year, probably through an acquisition, wants to set up a local data centre to better compet…
Offline-to-online retail discovery platform Appie raises bridge round of $1 million
Mumbai-based Appie Mobiquity , which owns and operates offline-to-online (O2O) retail discovery platform Appie, has raised a bridge round of about $1 million (Rs 6.65 crore) from an undisclosed list of investors. While the terms of the transaction were not disclosed, the startup will use the proc…
Busy 16 becomes the first business accounting software to provide the latest DVAT e-return filing as per item codes
BUSY 16, the Complete Business Accounting Software from Busy Infotech Private Limited has become the first accounting software to provide the latest Delhi Value Added Tax (DVAT) e-Return filing feature in its software. Delhi Government has recently changed the format of DVAT e-Return. Till now, …
Mobikwik offers loans to wallet users to push digital payments
Fin-tech company Mobikwik is expanding its services by offering instant micro loans to wallet users running short on balance as part of its efforts to boost digital payment usage in the country. The company, which competes with Alibaba-backed Paytm, started pilot on the project a few weeks back a…
Government reviewing startup action plan’s progress
The government is reviewing the Startup Action Plan launched in January by Prime Minister Narendra Modi to assess if it is moving in the right direction. The Department of Industrial Policy and Promotion (DIPP) is collating the progress made on the plan and will share its report with the NITI Aay…