Small and Medium Businesses (SMBs) will certainly be one of the big drivers of India’s growth in the coming years. As campaigns by Google and GoDaddy have shown over the years, it is not an easy job to get these smaller entities to go online, especially if those running it are not well-versed wit…
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NSIC signs MoU with Mahila Bank
National Small Industries Corporation (NSIC) has entered into a Memorandum of Understanding (MOU) with Bharatiya Mahila Bank (BMB) for facilitating credit to MSMEs. The MOU was signed on 21st December 2015 making it a 32nd bank to enter into NSIC’s unique arrangement with banks under its Bank Tie…
Microsoft to woo 20,000 MSME in UP with ‘Cloud’
Global IT Major Microsoft has set its eyes on the large Micro, Small and Medium Enterprises (MSME) base in Uttar Pradesh and targeting to cover 20,000 units under its Cloud technology. UP is home to over 3 million MSMEs across verticals, including product and region specific industrial clusters s…
Mudra Yojana to help MSMEs hit by Chennai floods
Mudra Yojana, a new financial system launched by Center is likely to help financially the Chennai flood affected MSMEs. This was decided following the visit of MSME Minister Kalraj Mishra, who inspected flood affected industrial clusters housing MSMEs in the city. The recent flood in Chennai ha…
Only 15% institutional funding for SMEs | Assocham & CRISIL Study
CRISIL in association with Associated Chambers of Commerce and Industry of India (Assocham), analysed 12,000 micro enterprises (rated between January 2010 and September 2015) to understand the scenario with regard to financial inclusion among micro enterprises – those with annual turnover o…
Digital lending platforms ease fund raising at SMEs
The Small and Medium Enterprises are the spine of economic development in any country and more so in India as we have a huge population to be served. They employ more than 106 million workers, according to government statistics, in a country that brings a million new workers into the workforce ev…
Online UAM registrations by MSMEs cross one Lakh | MSME Secy Anup Pujari
Udyog Aadhar, launched by Micro, Small and Medium Enterprises Minister in September this year has evoked overwhelming response. Over one lakh MSMEs have registered so far in a short span of two months. The online registration of small and medium business in the country will help them get benefit…
IPR awareness drive amongst MSMEs to enhance competitiveness
Ministry of Micro Small and Medium Enterprises has launched a scheme to build awareness on Intellectual Property Rights (IPRs) among MSMEs. The aim of this scheme is to enhance competitiveness of MSMEs under the National Manufacturing Competitiveness Programme (NMCP). Apparently, only one MSME h…
SEBI, BSE, NSE to hand-hold SMEs | Important Clusters under focus
Market regulator Securities and Exchange Board of India (SEBI) and the country’s leading stock exchange NSE have come forward to handhold SMEs in the region to raise funds for their expansion/diversification by getting listed. After the Government of India liberalized the norms for listing, allow…
Oddly, pink slips arrive @ Start-ups | Faulty biz models or funding crunch?
Ten months ago, Bhuwan Arora started up Oddity, an online content platform for news, videos and books. The 26-year-old IIT-Delhi alumnus relied on his personal savings and angel funding of Rs 25 lakh, which came in by April, to get the venture going. Over the next few months, Arora pitched his bu…