India and US decided to share best practices and technology in the Small and Medium Enterprises (SME) sector while the latter will bring its ‘Silicon Valley to India’ to encourage start-ups here. The two countries held their second Strategic and Commercial Dialogue (S&CD) in New D…
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Ratan Tata, Nandan Nilekani to start micro-finance company
Ratan Tata, Chairman emeritus of Tata Sons, Vijay Kelkar, former Finance Secretary and Chairman of the National Institute of Public Finance and Policy, and Nandan Nilekani, Co-Founder of Infosys Ltd and the architect of Aadhaar, are joining hands to start a microfinance institution (MFI). Named A…
MSE credit cover fund not self-sustaining: RBI
The Reserve Bank of India has cautioned the government that operations of one of the country’s largest credit guarantee funds, Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), is not self-sustaining. CGTMSE has given outstanding guarantees of `65,200 crore till Septembe…
Startups help ailing farmers
One may think the new-age startups have no relevance to the society, just serving as a mobile app for the tech-savvy people. However, recent news about these startups has a different story to tell. They address the problems of the most rejected segment of the society- farmers. While production of…
Tamil Nadu to set up multi-storeyed industrial facility for MSMEs
The Tamil Nadu government will set up a multi-storeyed industrial complex at Tirumudivakkam on the outskirts of Chennai, at an estimated cost of Rs. 50 crore, Chief Minister Jayalalithaa said. In a series of suo-moto announcements in the Assembly, Jayalalithaa said the State had 12.94 lakh Micro,…
MSMEs need special banks for the sector, says GCCI
With the Centre formulating a new policy for Micro, Small and Medium Enterprises (MSMEs), the Gujarat Chamber of Commerce and Industry (GCCI) has sent a memorandum to the relevant government appointed committee highlighting requirements of the sector. A principal suggestion is to create special b…
Goa signs MoU with Google India to promote digital literacy
The Goa government signed a memorandum of understanding with Google India to promote digital literacy and drive the digital transformation in the state. Chief Minister Laxmikant Parsekar and Vice President, Google South East Asia and India Rajan Anandan signed the MoU here. “As a first step…
Tata Capital, CII partner to provide easy credit to SMEs
Tata Capital said it has signed a pact with industry body CII to provide easy credit to small and medium businesses. “Tata Capital, the financial services arm of the Tata Group, signed a MoU with Confederation of Indian Industry (CII) to partner with them in the SME Finance Facilitation Cen…
RBI highlights steps for growth of entrepreneurship & reduce start-up mortality
In a bid to make work environment more start-up friendly and ease regulations, the Reserve Bank of India has said that it will soon consult with the Centre and implement the recently announced proposals on start-ups. This includes permitting start-ups to access rupee loans under the External Comm…
MSMEs can gain from ploughing back profits
Micro, Small, and Medium Enterprises (MSMEs) which plough back profits into the business tend to grow faster, compared with peers that don’t. CRISIL’s analysis of 3,000 rated MSMEs registered as proprietorships and partnership firms shows that 41 per cent had retained profits in 2014-…