The Reserve Bank of India is of the view that the ‘one-size-fits-all approach’ of banks is detrimental when it comes to lending to small and medium enterprises (SMEs). In a recent report prepared by RBI Executive Director Deepak Mohanty, global examples such as Amazon Lending and supplier financi…
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Govt likely to promote SMEs in Capital Goods sector
Amid not-so-encouraging performance of the capital goods sector in the country, the government is considering setting up a technology development fund for the sector even as it explores ways to promote SMEs and bring in standardization. According to a senior official in the department of heavy in…
TV Mohandas Pai plans Rs 100-crore family office fund for technology startups
The Startup India initiative may well get a head start with investors showing an appetite to create additional venture funds in the country. Former Infosys Board member T V Mohandas Pai, one of India’s foremost angel investors, is finalising a family office fund which will look at seed funding t…
Start-ups warm up to corporate biggies for fresh revenues
Many Indian start-ups, engaged in fierce competition and consolidation, are now increasingly collaborating with corporate majors to provide them services that different vendors used to provide them previously, thus creating new sources of revenue. Earlier, the corporate majors would engage differ…
CARE24 raises $4 million in Series-A round
Care24, a Mumbai-based home health care services start-up, has raised $4 million in a Series-A funding round led by SAIF Partners, supported by a strong follow-on by seed investor, India Quotient. The fresh capital comes within three months of Care24 receiving the seed funding. Founded by Indian …
Cairn India, NASSCOM launch Knowledge Centres in rural Andhra
Contributing to the 10-point agenda of the Modi Government youth from under-privileged communities to get jobs in reputed companies Cairn India, in association with NASSCOM Foundation, inaugurated the Cairn NASSCOM Knowledge center (CNKC), at Gollavilli village in Uppalaguptham Mandal of East God…
SME funding-enabler Indifi & Travel Boutique Online join hands
In a bid to enhance businesses for travel agents, Indifi Technologies, an enabler for SME funding in India, has joined hands with Travel Boutique Online (TBO). Through this association, Indifi is providing working capital to travel agents who are unable to scale-up their businesses due to financi…
Chikankari craft facing strong Chinese competition
Lucknow’s centuries-old Chikankari craft is facing strong competition from Chinese Chikan which is up to 30 per cent cheap and consumes less time in production, threatening livelihood of about five lakh people involved in this unorganized industry, suggested an analysis by Associated Chambe…
Bangla ban on raw jute export hits Bengal jute mills hard
The over Rs 8,000 crore jute industry, which has been passing through a demand crisis and subsequent closures at the mills level, is also being hit hard by imposition of ban on export of raw jute by the Bangladesh government, said top Indian Jute Mills Association (IJMA) officials. The ban has l…
7,000 ITIs to be set up in one year | PMO directs Skill Ministry
The Prime Minister’s Office has directed Skills Ministry officials to open within one year 7,000 new Industrial Training Institutes (ITIs), or nearly half the number of all existing ITIs opened in India across six decades, two officials aware of the development said. The government’s objective is…