The Rs 10,000-crore fund announced in the Startup India policy by Prime Minister Narendra Modi is expected to be the force multiplier that may boost investments many times into this segment, industry experts believe, even as the government plans to liberalise the regulatory environment for entrep…
Companies, Finance & Markets
NRN panel bats for easier norms for VC, PE funds
A SEBI panel has recommended sweeping changes in rules governing venture capital and private equity funds in India to bring the norms in line with global practices and help attract capital flows, streamline tax collections and widen the participation of domestic and overseas investors. The Securi…
Mudra not to regulate Micro Finance Institutions: Govt
Clarifying its stand on regulation of micro-finance companies, the government has said that the Reserve Bank of India would continue to regulate MFIs registered as non-banking finance companies (NBFCs) with the central bank. MFIs will not be regulated by the Micro Units Development and Refinance …
SBI partners with Snapdeal to launch e-platform for SMEs
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…
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…
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…
Need to evolve customized funding solutions for SMEs: RBI
The Reserve Bank of India is of the view that the ‘one-size-fits-all approach’ of banks is detrimental when it comes to lending to small and medium enterprises (SMEs). In a recent report prepared by RBI Executive Director Deepak Mohanty, global examples such as Amazon Lending and supplier financi…
SME funding-enabler Indifi & Travel Boutique Online join hands
In a bid to enhance businesses for travel agents, Indifi Technologies, an enabler for SME funding in India, has joined hands with Travel Boutique Online (TBO). Through this association, Indifi is providing working capital to travel agents who are unable to scale-up their businesses due to financi…
Bangla ban on raw jute export hits Bengal jute mills hard
The over Rs 8,000 crore jute industry, which has been passing through a demand crisis and subsequent closures at the mills level, is also being hit hard by imposition of ban on export of raw jute by the Bangladesh government, said top Indian Jute Mills Association (IJMA) officials. The ban has l…