The directive of the State Bank of India (SBI) to all associate banks that any credit proposal for above Rs.10 crore has to receive an approval of the Mumbai office of the SBI is likely to impact flow of funds to Micro, Small and Medium Enterprises (MSMEs). This has been sent as an advisory to [&…
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Furnishing details on the data bank is compulsory for all MSMEs: MSME Secy
K K Jalan, Secretary, Ministry of Micro, Small and Medium Enterprises (MSME), on September 19 urged the Micro, Small and Medium Enterprises (MSMEs) in the country to update the details of their enterprises on the MSME data bank. This, he said was mandatory, the updated data would be used for evol…
Expansion of small businesses necessary for growth: Kalraj Mishra
Highlighting the importance of Micro, Small and Medium Enterprises in the economy’s development, the Union MSME Minister Kalraj Mishra said expansion of small businesses are necessary for growth of the nation, and also for making families self-sufficient. Prime Minister Narendra Modi has taken st…
RBI for review of SME rating
The Reserve Bank has asked the Indian Banks’ Association (IBA) to review the existing criteria for rating of loans to Micro, Small and Medium Enterprises (MSMEs), which are blamed for slower credit off-take to the sector. Sources said this came after India’s largest public lender State Bank of In…
Arun Jaitley inaugurates start-up school at LPU
Union Finance Minister Arun Jaitley inaugurated start-up school at Lovely Professional University’s (LPU) Chaheru campus. Addressing the students, he said, “I wish to see many upfront entrepreneurs from LPU”. The US, Japan, Taiwan, South Korea have advanced in technology and res…
Alibaba ramps up B2B commerce play in India to aid SMEs
Amid talk of Alibaba’s foray into the consumer-facing e-commerce space in India, the Jack Ma-led Chinese internet behemoth has gone ahead and struck a string of partnerships to prop up its existing business-to-business marketplace venture here in India. Alibaba is partnering with DHL and De…
Recommendations to raise tax holiday sent to Fin Min: Nirmala Sitharaman
Union Minister Nirmala Sitharaman said her Ministry has recommended the Ministry of Finance to raise tax holiday for start-ups from three years to seven with a sense of constructive and positive approach, and was awaiting a response. “They (Finance Ministry) have received the recommendation…
Amazon to open ‘seller cafes’ to offer on-ground help
Online marketplace Amazon India is opening ‘seller cafes’ across 24 cities and towns to offer on-ground help to merchants on its platform ahead of the festival season. “We are opening 24 ‘seller cafes’ in cities and towns to offer on-ground support to sellers to help…
Simplify factory inspections for ‘ease of doing business’: CII
The factory inspection system needs a complete overhaul to bring India among the top 50 countries in terms of ‘ease of doing business’ in the next two years, according to the Confederation of Indian Industries (CII). India is currently placed at 130 out of 189 countries in the ‘ease of doing busi…
Troubled times? Not for HR start-ups
While funding in the HR-tech startup space plateaued this year after seeing its biggest peak in 2015, entrepreneurial and investor sentiment in the space has remained unscathed. As many as 65 new HR tech startups have emerged in India so far this year, according to startup research platform Tracx…