Flourishing amidst a challenging environment, the Small and Medium Enterprises ( SMEs) of India experienced several highs and lows in the past few years. With the Indian economy expected to emerge as one of the leading economies in the world and likely to become a $5 trillion economy by 2025, maj…
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Telangana to set up industrial health clinics to revive MSMEs
HYDERABAD: The Telangana government would soon set up an ‘Industrial Health Clinic’ to revive sick units in the MSME sector with a corpus of Rs 100 crore, State Industries Minister K T Rama Rao said in the Legislative Assembly on December 30, 2016. Noting that 70-75 per cent jobs are …
Use khadi once a week, government staff told
BHOPAL: Two-and-a-half months after a close-door meeting between Prime Minister Narendra Modi and known Jain seer Acharya Vidyasagar in the state capital, the Madhya Pradesh government has appealed to its employees to promote khadi and handlooms by wearing khadi clothes at work once a week. ̶…
PM Modi’s New Year’s Eve speech: Relief for farmers, SME sector in focus
Direct benefit transfer-based relief measures for farmers and the SME sector in the wake of the hardships caused by demonetisation could be the big announcement to look out for in Prime Minister Narendra Modi’s New Year’s Eve speech. According to a report, the government is keen to bo…
RBI expands scope for issuing pre-paid cards beyond listed cos, relief to SMBs
In a significant move, the Centre and the Reserve Bank of India now have a solution for a pain point that factories and export houses are facing post-demonetisation. These entities can now digitally disburse money to unbanked contract workers via pre-paid cards. The Reserve Bank has expanded the …
‘BHIM: Bharat Interface for Money’, a realtime cashless transaction scheme launched at DigiDhan Mela
As the 50-day window to deposit old 500 and 1000-rupee notes draws to a close on Dec 30, Prime Minister Narendra Modi launched ‘BHIM: Bharat Interface for Money’, a realtime cashless transaction scheme at the DigiDhan Mela on December 30. “This new mobile payment app ‘BHIM: Bharat Interface…
Banks told by RBI to raise working capital limit for MSMEs
In a relief to small and medium enterprises hit by the cash crunch in the market and the consequent slowdown in the business, Reserve Bank on December 29 said banks may provide ‘additional working capital limit’ to Micro, Small and Medium Enterprises (MSME) borrowers. This would be a one-time mea…
Businesses can soon cash in on Aadhaar-enabled payments: Ravi Shankar Prasad
After unveiling a slew of ‘incentives’ for digital payment, the government may roll out certain ‘disincentives’ for cash payments as well in the coming year, said Law and IT Minister Ravi Shankar Prasad in an interview, Prasad spoke about measures that the government is taking to push cashless tr…
Sebi allows Cotton Association of India to exit bourse business
Markets regulator Sebi allowed Cotton Association of India (CAI) to exit the bourse business by withdrawing its recognition. The Securities and Exchange Board of India (Sebi), in February this year, informed the CAI that since there was no trading operation on its platform for more than 1…
Planning a New Year party? These start-ups will help you out
New Year is around the corner and to add more cheers this time it’s falling on a weekend. While most of the people love to go out for a party, many love the idea of planning a house party as it’s more comfortable and pocket-friendly too. Given today’s fast moving life and busy schedules, people […