The number of sick MSMEs has risen to 4,86,291 in 2016 and owe Rs. 40,642.50 crore to banks as outstandings. This is much higher than the total number of 4,73,823 sick MSMEs till March 2015 and 4,68,399 in March 2014, and almost double that of 2,22,204 in March 2013, according to the Reserve Bank…
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Venture debt comes of age in India, at long last
In 2008, InnoVen Capital provided the first-ever venture debt of about ₹5 crore to Sequoia-backed Prizm Payments (now Hitachi Payment Services), and ever since, its popularity has been on the rise. Venture debt is slowly coming of age in India, with the country dispersing more than $40 million (₹…
Trade restrictions imposed on China need to be WTO compliant: Sitharaman
India’s trade deficit with China rose to $52.69 billion in 2015-16, from $48.48 billion in the year before, Parliament was informed on November 28. Commerce Minister Nirmala Sitharaman told the Lok Sabha in a written reply that during the April-September period of the current fiscal, the de…
It is good to have another investor who is on the same wavelength: Ventureast Managing Partner
It is not just entrepreneurs who pivot and change their business model or strategy. Investors too do the same. From investing on their own, they are now looking at co-investing in ventures with like-minded investors. The change has come about because venture capital firms realise that as their po…
ATMA seeks anti-dumping duty on radial tyre imports
With the latest statistics showing no let up in surging imports of truck & bus radial (TBR) tyres in India, the domestic industry has asked for urgent safeguard measures. TBR tyre import has gone up by 30% in the first half of the current financial year as against the corresponding period las…
Foundation laid for electronics, jewellery manufacturing hubs in Odisha
Odisha Chief Minister Naveen Patnaik today laid the foundation stone of Electronics Manufacturing Cluster, Infovalley, Seafood Park and Gems and Jewellery Park to be set up in Twin Cities. The electronics manufacturing cluster would come up at Janla under Jatni block with an investment opportunit…
Demonetisation Effect | Fintech start-up Capital Float opens its coffers for small merchants
Amidst cash chaos and consequent surge in digital payment due to government’s demonetisation drive, a Bangalore based digital lending firm for small and medium enterprises (SMEs), Capital Float has decided to offer quick and easy loans to small merchants. The fintech startups has partnered with P…
Nasscom to set up start-up warehouse in Odisha
Bhubaneswar: Software think-tank National Association of Software and Services Companies (NASSCOM) would set up a startup warehouse in Odisha that aims to incubate and provide hand-holding support to IT startups in the state. The state government would provide a 5,000 sq ft space in the Odisha Co…
Pay 50% tax on unaccounted deposits, or 85% if caught: Govt
New Delhi: Providing a window to black money holders, the government on November 28 proposed to levy a total tax, penalty and surcharge of 50 per cent on the amount deposited post demonetisation while higher taxes and stiffer penalty of up to 85 per cent await those who don’t disclose but a…
Jobs will be safe in MSME sector, govt assures workers
Lucknow: Government sought to soothe concerns of layoff in micro, small and medium enterprises (MSMEs) that employ 80 million people against the backdrop of demonetisation, saying the decision might cause initial problems but will not impact job scenario in the sector. “There can be initial…