In an interview, Commerce Minister Nirmala Sitharaman said that even though micro, small and medium enterprises (MSMEs) are facing problems due to demonetisation, they will be the ones getting a better access to capital later as the banks are flushed with money now with high number of deposits in…
News
Currency Switch Impact | How India’s internet commerce industry is coping currency recall
In the two weeks since the government announced its demonetisation initiative, India’s internet commerce industry has scrambled to adjust. Internet entrepreneurs have applauded the move, ostensibly for its long-term payoffs, although online marketplaces and logistics startups have been hit hard b…
Digital economy on the rise, funds flow for cybersecurity start-ups
Bengaluru: When Vishal Gupta started Seclore, an enterprise security company in 2010, investors and customers were apprehensive. There was till then no established model of an Indian software provider in the cybersecurity space. “We had trouble establishing trust,” Gupta recalls. Gupt…
Currency Switch Impact | Demonetisation to help leapfrog into digital economy: Kiran Mazumdar-Shaw
Biotech Entrepreneur Kiran Mazumdar-Shaw has said the demonetisation of high-value currency notes is an opportunity to leapfrog into a digital cashless economy, even as she called for a effective monitoring to prevent accumulation of fresh black money. The CMD of Biocon Ltd, which was rated among…
SMEs have lot more growth potential than large enterprises: Freshdesk Founder
Bengaluru: The idea that large companies cannot be built by only selling to small businesses is based on conventional wisdom, believes Girish Mathrubootham, Chief Executive Officer and founder of Freshdesk Inc. In an interview, he insists that there is a lot more growth potential in small and med…
Maharashtra to reserve 20% plots for MSMEs
Pune: The state government has decided to reserve 20% plots in every industrial estate for micro, small and medium enterprises (MSME), enabling them to start production immediately. Speaking at the Confederation of India Industry MSME Summit on November24, State Industries Minister Subhash Desai …
Currency Switch Impact | Demonetisation powers online food delivery, grocery biz
While demonetisation may have led to a decline in sales of e-commerce firms due to the slowdown in cash-on-delivery orders, it has seen a rise in sales of companies which are into online food delivery business. For instance, foodpanda.in CEO Saurabh Kochhar said his firm has seen the number of or…
Currency Switch Impact | Start-ups welcome demonetisation with open arms
The ongoing monetary chaos in the nation has confused the public beyond reasonability. The demonetisation has brought forth several debates questioning the same. While many have come forward in support of Prime Minister Narendra Modi’s decision, a few are against the ban of Rs 500 and Rs 10…
Currency Switch Impact | Note ban to badly disrupt economic activity in short run: Moody’s
India’s decision to scrap some high-value notes will significantly disrupt economic activity , result in weaker consumption and economic growth in the immediate term but is expected to boost tax revenues and trigger faster fiscal consolidation in the long run, global ratings agency Moody…
Currency Switch Impact | Widespread distress as demonetisation hits SMEs hard
A huge wail of distress is being heard from small and medium business enterprises across India that have been hit hard by the demonetisation of high-value notes. Alarmed by the drastic fall in trade, commerce and business activities by around 75 percent post-demonetisation, traders in Maharashtra…