New Delhi: At a time when most school-going kids are busy taking selfies, Diya Burman — the teenaged daughter of the Rs 8,500-crore Dabur India’s Vice-Chairman Amit Burman — is following in the footsteps of her father. The 16-year-old scion of the Burman family has created her own startup i…
News
SME IPOs catch investors’ eye, subscription multiplies
Small and medium enterprise (SME) IPO market has started to gain traction among investors, with public issues of several firms, including DRA Consultants and Sysco Industries, getting oversubscribed multiple times. Moreover, mutual funds, banks and brokerages have started showing interest in the …
Corporation Bank eyeing Rs. 4,500-cr MSME loans
Corporation Bank is looking to disburse Rs. 4,500 crore of loans to MSMEs (micro, small and medium enterprises) during the next few months, CK Gopal, General Manager, said. He said, “The bank has launched a special four-month campaign in this regard. This campaign, which began on October 1,…
AP urged to take steps to revive sick units
Visakhapatnam: The Andhra Pradesh government should take immediate steps for the revival of the many sick micro, small, medium enterprises and also help in the establishment of new ones, according to BV Rama Rao, President of the Federation of Andhra Pradesh Industries (FAPI). He said at a press …
LIC, pension funds should be allowed to invest in start-ups: Experts
Top fund managers and start-up veterans pushed for increasing the domestic capital pool by removing investment restrictions on insurance companies and pension funds. They felt even a fraction of investible funds from these behemoths could bring in a lot more funds than what the government is dire…
Govt in dilemma over curbs on cheaper imports: Nirmala Sitharaman
Union Minister of State (Independent Charge) for Commerce and Industry, Nirmala Sitharaman, has said that the government is in a dilemma over the issue of imposing restrictions on cheaper imports, since a section of the Small and Medium Enterprises (SMEs) are achieving global competency by using …
CCMB launches iHub for medical, agri-biotech start-ups
After having T-Hub (Telangana Hub) as India’s largest incubator for startups, Hyderabad has another Innovation Hub (iHub) to promote start-ups in the fields of medical and agricultural biotechnology. The Council of Scientific and Industrial Research – Centre for Cellular and Molecular…
Sporting app, Sportido raises funding from Sumpoorna Group
Sportido, a location-based sporting app that connects sports and fitness enthusiasts to other players, venues and events, has secured an undisclosed amount of funding from Sumpoorna Group, a holistic investment advisory syndicate that operates across verticals of retail, domestic and foreign inst…
RBL Bank, NeoGrowth & OPIC sign pact for SME financing in India
RBL Bank Limited, NeoGrowth Credit Pvt. Ltd and Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance Institution have jointly committed to provide financing for small and medium enterprises (SMEs) in the Indian retail space. RBL Bank, one of India’s fastest g…
RBI issues operational guidelines for Payment, Small Finance Banks
RBI came out with operating guidelines for differentiated banks — payments banks and small finance banks — being set up to bring in new players who would leverage on technology for financial inclusion in a cost effective manner. RBI granted in-principle approvals to 11 entities for setting up pay…