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…
Tag: Credit Guarantee Scheme
If India has to grow, we need to have strong SME rating fundamentals | Varun Mirchandani, ED, ONICRA
Rating of SMEs has worked wonders in getting bank loans and there are empirical evidence to suggest ratings have changed thousands of SMEs into vibrant enterprises with commercial banks coming forward to provide them loans hand-hold them during difficulties. Rating agency ONICRA Executive Directo…
WASME for more flexibility to MSMEs in the Budget
World Association for Small and Medium Enterprises (WASME) seeks a flexible Budget for MSMEs to extend support to the sector’s development. “Without MSME we can’t think of our economy and development. We have to be flexible”, says WASME ED Sampa Banerjee. Government has initiatives like Prime Min…
NSIC supply of raw materials to MSMEs registers growth
The state-owned National Small Industries Corporation Limited (NSIC), which supplies raw materials to MSMEs, facilitated 7129 units in 2015-16 as against 6450 units in the previous year, an official announcement said. NSIC, which comes under MSME Ministry, sells raw materials to MSMEs such as iro…