Country’s largest lender State Bank of India on January 15 announced launch of SBI e-Smart SME to offer easy working capital to online e-commerce players. Country’s largest lender State Bank of India today announced launch of SBI e-Smart SME to offer easy working capital to online e-commerc…
SIDBI provides Rs 1,100-crore risk capital assistance to 500 MSMEs
Small Industries Development Bank of India (SIDBI), the financial institution for promotion and financing of MSMEs, has extended risk capital assistance of close to Rs 1,100 crore to 500 MSMEs, it said in a statement on January 15. “Some of the successful assisted entities include – Wildcraft, Sm…
Procurement by PSUs, govt units from MSMEs to be increased | Kalraj Mishra
Procurement by public sector undertakings (PSUs) and government departments from MSMEs is “dismal” and should be increased, MSME Minister Kalraj Mishra said. “The government has made mandatory for the PSUs and government units that they should make at least 20 per cent of their …
New startup policy to boost entrepreneurs
Addressing a ‘Startup Leaders Meet’ organized by FICCI in association with TiE Silicon Valley, United States, there was a need to create an ecosystem for startups where knowledge workers could be converted to knowledge entrepreneurs. The business delegation from TiE Silicon Valley was visiting In…
Pradhan Mantri Fasal Bima Yojana – A boost to farmers
‘Pradhan Mantri Fasal Bima Yojana’ – a path breaking scheme for farmers’ welfare is launched by Prime Minister Narendra Modi. The new Crop Insurance Scheme is in line with One Nation – One Scheme theme. As per the scheme: There will be a uniform premium of only 2% to be paid by farme…
Jaya eases loan burden off MSMEs, offers vendors credit
Tamil Nadu’s Chief Minister J Jayalalithaa, on January 14, announced special concessions and interest-free loans to small, medium and micro industries, besides vendors affected by the recent floods in the State. In a statement at Chennai, she said street vendors selling flowers, fruits and vegeta…
SBI launches specialised branch for Start-ups
State Bank of India (SBI), India’s largest lender, on January 14 opened a specialized br—SBI InCube—that will cater to the specific financial needs of start-ups in Bengaluru. The branch will assist start-ups in cash management, taxation, regulations, foreign exchange and remittances, mentoring, a…
MSMEs best vehicle for inclusive growth | S C Jamir, Odisha Governor
Odisha Governor S C Jamir said, at least 25 per cent of the total procurement of any government department of PSU should be made from MSMEs. The Micro, Small and Medium Enterprise is the best vehicle for inclusive growth as it creates local demand and consumption, he said. Addressing the valedict…
RIL to partner small entrepreneurs in West Bengal | Mukesh Ambani
Speaking at the Bengal Global Business Summit held in Kolkata on 8-9 January 2016, RIL Chairman Mukesh Ambani said the company would partner small entrepreneurs of West Bengal by providing them connectivity. Reliance Jio has invested nearly Rs 5,000 crore in Bengal in the last three years for dev…
Top honchos meet President of India for an interactive session on eve of ‘Start-up India Action Plan’
On the eve of ‘Start-up India Action Plan’ to be launched by Prime Minister, Narendra Modi on January 16, 2016, India’s top CEOs, entrepreneurs, technologists and venture capitalists is having an interactive session with President, Pranab Mukherjee today, January15, 2016. The purpose of the inte…