News

Budget 2017 needs to address structural changes: Yes Bank CEO

At a time when the economy is gathering momentum, the Budget will certainly be the most important opportunity to chart the future course for structural and institutional reforms. 2017 promises to be a year where we stand to reap the benefits of passage of key reforms such as GST and the Bankruptc…

Govt launches import facility for export-oriented SMEs

The government has introduced what it calls an Export Purposed Import Facility (KITE) to annul import taxes and other tariffs for export-oriented small and medium enterprises (SMEs). The measures would reduce production costs for export-focused businesses by up to 25 percent, President Joko ̶…

Utkarsh Micro to focus on affordable housing, MSMEs: CEO

New Delhi Newest small finance bank Utkarsh Micro Finance will focus on affordable housing and MSME segments and target more retail customers to expand its deposit base, a top company official said. Varanasi-based Utkarsh started its small finance bank (SFB) operations last week with five branche…

IKP plans to setup 5 start-up incubation hubs in Karnataka

Hyderabad-based IKP Knowledge Park is planning to establish five startup incubation hubs in tier-II cities of Karnataka. Already, it has created an incubation facility in Bengaluru with an investment of Rs 8 crore, raised from Karnataka government. IKP is in the process of raising Rs 31 crore fro…

Revived 143 defunct Khadi units using MSME grants: KVIC

KVIC on 29th January said it has revived as many as 143 defunct Khadi units using grants from the Ministry of Micro Small and Medium Enterprises (MSME) since April 2014, and steps are afoot to start production at 124 more units. KVIC Chairman  said the organisation is taking “pro-activeR…

Noteban hits small auto loans as repayments fall steeply: Fitch

Demonetisation has significantly impacted the repayment capacity of small auto loan borrowers as their income has been adversely hit, says a report. “Demonetisation appears to have had a negative impact on auto loan repayments with small auto loan borrowers have been affected the most,̶…

GST to ease loan access for millions of firms: Nandan Nilekani

The implementation of Goods and Services Tax (GST) should drive nearly seven million small businesses to the formal digital economy and help them get easy access to loans, said Nandan Nilekani, the technology entrepreneur and co-founder of Infosys who was tapped by the government to run an ambiti…

Budget 2017: mobile makers seek incentives for making in India

Mobile handset makers operating in India expect the government to continue duty differential regime for mobile phones in the upcoming budget, amid business slowdown due to demonetisation and the imminent implementation of goods and service tax (GST) regime. Some feel that while the government sho…