Mumbai: Private sector lenders HDFC Bank, Axis, IDFC, Kotak Mahindra and Yes Bank have started extending short term credit to meet working capital needs for Ola, Power2SME, Flipkart, OYO, Zinka, Capital Float, investment banker-turned-entrepreneur Fulguni Nayar-owned Nykaa and many others, throwi…
News
RBI asks banks to collaborate with Fintech cos to bridge funding gap for SMBs
Mumbai: The RBI deputy governor has said that in view of the competition from fintech companies, banks should reorient their business model and look at collaborating with more efficient players after assessing the likely impact of disruption. Delivering the inaugural address at a seminar organise…
Capital Float to disburse Rs5k cr in SME loans in FY18
New Delhi: SME lending platform, Capital Float, disbursed Rs1,000 crore in loans during the 10 months ended January 2017, and it expects to disburse Rs5,000 crore in the next one year, said top executives of the company. Bengaluru-based Capital Float is introducing more loan products, increasing …
As ISRO heralds Space renaissance in India, SMEs aim for infinity & beyond
At a time when no distance is too far, chalking out missions to the moon or idle talk of colonizing Mars are upending dinner table conversations. From cautious crawls to risky leaps, humanity has traversed many years to reach this milestone, the scope of which is being broadened with remarkable f…
‘Indian start-ups are leaders in low-cost innovation’
Whoever has ever attended a TiECON event knows what it is like to hear out and meet some of the leaders in entrepreneurship space in the country. Such conferences are a great meeting point to exchange ideas, understand sectors and trends, gauge motivation for ventures, meet investors and supporti…
Funding freeze puts start-up hiring in cold storage; Up to 50% drop in recruitment
BENGALURU: The prolonged funding winter bearing down on Indian start-ups could leave several companies with bare branches. Hiring at start-ups this year has dropped by 10-50%, according to recruitment companies that hire for start-ups. This is particularly true for e-Commerce, logistics, grocery …
KASSIA submits pre-Budget Memorandum for MSMEs to K’taka CM
President of Karnataka Small Scale Industries Association A Padmanabha, along with office-bearers, has presented the pre-Budget memorandum for financial year 2017-18 to Chief Minister Siddaramaiah. The KASSIA has requested the Government to allot land to the micro and small scale enterprises on …
Bengaluru has emerged as biotech start-up capital, says study
Bengaluru has emerged as the biotech startup capital of India – it’s home to 190 ventures out of the 1,022 set up in the past five years, according to a study by the Association of Biotechnology Led Enterprises (ABLE). The National Capital Region (NCR) comes second with 164, followed …
Cash credit limit for MSMEs raised to 30%: Arjun Ram Meghwal
Chennai: The government has increased the cash credit limit for Micro, Small and Mmedium Enterprises (MSMEs) to 30 per cent of turnover from the existing 20 per cent to encourage such ventures conduct businesses digitally, Minister of State for Finance Arjun Ram Meghwal said. “We have taken…
Momentum Jharkhand: Vedanta Resources promises Rs 5k cr investment with focus on SMEs
Keen to get a strong foothold in Jharkhand, Vedanta Resources Group Chairman Anil Agarwal on February 16, at the first , said he had “big plans” for the state. The initial foray will be with a $1-billion investment that includes setting up a one-million tonne steel plant, he added. Dubbing Jharkh…