Government on 18 January approved a package for supporting the micro and small enterprises across the country, which entails augmenting the corpus of Credit Guarantee Trust Fund for such ventures and doubling the coverage of loans under the credit guarantee scheme. The post-facto approval was gra…
Tag: fund
Demand Gap of Rs 2.93 trillion in MSME financing needs to be filled for a double digit growth
With country’s population growing at a rate of about 1.7 per cent, there are few jobs available to the youth today. An economic slowdown too is affecting the job market. The best case scenario to earn a descent living thus, is to start something of your own. It could be a cottage industry, …
Reliance Jio sets aside Rs 5,000 cr fund for startups
Reliance Jio has parked Rs 5,000 crore venture capital fund to help young entrepreneurs in the country build their business. Speaking at Reliance Industries 42nd annual general meeting, Chairman Mukesh Ambani said Reliance Jio’s aim is to build a platform for young Indians who want to creat…
Torrent loads Puro Wellness with Rs 250 cr
Ruchir Modi’s wellness startup Puro Wellness has raised Rs 250 crore from Torrent — the holding company of Gujarat-based conglomerate Torrent Group — in its pre-revenue stage. As per some investment banking executives, Torrent has taken a significant stake in Puro Wellness, which aims to de…
Companies get more leeway in taking deposits with revised norms
Government has tweaked the rules governing acceptance of deposits by companies, a move that provides more flexibility for startups in garnering funds. Besides, entities have been given more time to have deposit insurance in place. The latest amendments to certain rules under the Companies Act is …
MSME Ministry to ease access to funds | Anup K Pujari
MSME Ministry is trying to develop a system to ease the access to funds. Under the proposed system, MSMEs which apply for loan will have to fill up a one page questionnaire about their requirement and a two page description regarding what they want to do, said outgoing MSME Secretary Anup K Pujar…
Guarantees & counter guarantees for loans to be provided to MSMEs
The government must do away with the interest subvention scheme and p lough back the subsidy into a universal crop insurance scheme for small and marginal farmers, according to a recommendation from a panel constituted by the Reserve Bank of India (RBI). The move can transform the agriculture sec…