Startups Club, a premier destination for early stage startups, today announced the kick-off of their year-long event, ‘Demo Day 2016’, across 10 cities. The event is likely to provide early stage startups with the opportunity to attend boot camps, meet investors, secure funding and win prize mone…
Companies, Finance & Markets
India’s 1st E-commerce company listed in BSE –SME, graduates to BSE
India got its first E-commerce company listed on BSE exchange. Lesser known e-commerce company, Edynamics Solutions Limited started trading on BSE exchange from Jan 6, 2016. It is involved in online trading and retailing of variety of products such as groceries, fabrics, clothing, furnishings, el…
MUDRA Loans: Banks, Microfinance take Lion’s share
On January 7, the Government announced: “MUDRA (Micro Units Development Refinance Agency) loans amounting to Rs 71,312 crore have been disbursed to 1.73 crore borrowers as on 1st January, 2016.” A closer look at these numbers reveals the government refinanced loans of only Rs 2,000 crore under th…
‘Bioscope’ multiplex to expand in eastern region
Kolkata-headquartered multiplex brand ‘Bio-scope’ is on an expansion mode. Having produced a number of Satyajit Ray masterpieces, Priya Entertainments Pvt Ltd owned Bio-scope is looking forward to expanding the multiplex brand beyond the Bengal borders, said Arijit Dutta, Managing Director, Priya…
Primarc iVenture to help start-up business
Kolkata-headquartered retail and realty player Primarc Group has now floated a new company called Primarc iVenture to nurture and foster business ideas and promote start-up ecosystem. Primarc iVenture will help start-ups by funding and guiding them to grow and carve their own success stories, wit…
Make MUDRA Independent: CAIT
The Confederation of All India Traders (CAIT) has urged Finance Minister Arun Jaitley to free Mudra from the clutches of Reserve Bank of India by bringing in necessary legislation in Parliament. Mudra should be made an independent regulator to effectively cater to the financial needs of non corpo…
ARCIL to focus on loan recovery from retail borrowers, SMEs
In a strategy shift, Asset Reconstruction Co. (India) Ltd (ARCIL) has decided to focus on recovering loans from retail borrowers and small and medium enterprises (SMEs), while looking at mid-sized companies on a selective basis. Vinayak Bahuguna, managing director and chief executive officer of t…
MUDRA made a bank under SIDBI to lend to small units
To ensure more money for micro and small enterprises, the Union Cabinet on Wednesday approved conversion of Mudra Ltd (Pradhan Mantri Micro Units Development Refinance Agency), into a bank, besides the setting up of two credit guarantee funds. The two funds will cater to loans disbursed under the…
SBI to set up special branch for start-ups in Bengaluru
The nascent yet burgeoning start-up ecosystem has caught the attention of SBI. The country’s largest bank will soon set up a first-of-its-kind branch to cater exclusively to the growing banking needs of start-ups. The bank has zeroed in on Bengaluru, the so-called Silicon Valley of India, for set…
Diversification can help MSMEs boost competitive advantage | CRISIL Study
Micro, Small and Medium Enterprises (MSMEs) can improve their revenues and boost their competitive advantage by diversifying across products, customers and geographies, according to a CRISIL study. The study found that average sales of MSMEs with a diversified product/service, customer and geogra…