Mobile apps were once seen as the realm of big corporations who could afford to market them and had the consumer base to benefit. Who would want to download an app for a local restaurant or small online business? However, today the answer to that question is ‘a lot of people’ as more of us [&hell…
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Rs 2600 b of corporate & SME loans will be recognised as stressed loans by fiscal 2019: India Ratings
Domestic rating agency India Ratings and Research has said the banking system has Rs 7.7 trillion of unrecognised stressed loans in corporate and SME sector and expects around 35 per cent of them to slip into the NPA category in the next 12-18 months. “Indian banks are sitting on unrecognised str…
Merchandise Exports from India Scheme being re-designed to make exports GST-compliant
The Merchandise Exports from India Scheme (MEIS) is being re-designed to make exports from India GST-compliant and the issue of working capital requirements under the new tax regime is being deliberated upon by the government, said Neeraj Prasad, Additional Commissioner, GST Cell, Central Board o…
Startup India: Centre needs to think scale like it did with Aadhaar
Digital India, Startup India and Make in India are synonymous in some sense as the visible thrust from the government has raised awareness and focus on startups. Within months of the government coming to power in 2014 there was a complete change in sentiment. Last year, IDG Ventures India saw 2,8…
#3YearsOfModiSarkar: How government policy is transforming India’s credit & MSME landscape
No economist would disagree with the statement that credit is a key fuel for economic growth, without which, normal economic activity would be virtually impossible. What is equally indisputable is that the Indian economy in general and Indian small businesses (MSMEs) in particular, have been cred…
CRISIL SME Tracker: GST to make small town MSMEs more competitive
The implementation of the Goods and Services Tax (GST) is expected to alter the business dynamics in favour of micro, small and medium enterprises (MSMEs) based in Tier-2 or smaller cities. Today, MSMEs with manufacturing units based in small cities spend relatively more on materials and less on …
Kassia seeks joint action committee for southern MSMEs
Karnataka Small Scale Industries Association (Kassia) has urged for setting up a joint action committee of southern MSME associations to implement government programmes in South India. Kassia, on May 16, submitted a memorandum to Kalraj Mishra, Union Minister for MSME in this regard. “We have req…
WannaCry ravage: Cyber security start-ups come to rescue
Chennai: As ransomware WannaCry ravage continues, cyber security start-ups look to beef up security systems of their clients. While DSCI and Nasscom issued a “best practices” note on May 15, security experts are issuing alerts, monitoring communications 24/7 and developing patches to …
Post GST rollout, PAN must for registration of companies with over Rs 20 lakh turnover
Organisations with over Rs 20 lakh turnover will have to specify PAN while filling the Udyog Aadhaar Memorandum for registration. These organisations include companies, limited liability partnerships, cooperative societies, societies and trusts. The decision, taken at a meeting chaired by the MSM…
Small businesses suffer as India’s bruised banks sit on deposits
Businessman Vineet Pandey has 500 housekeepers, security guards, electricians and plumbers on his books, servicing offices in India’s booming financial metropolis Mumbai. He would love to hire more to keep up with demand, but cannot get a bank loan. Pandey, 36, recently had to turn away an …