Banks releasing working capital loans for SME clients & providing own readymade SaaS-enabled platforms for easier GST compliance; Online lenders trying to tap into post-GST market
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Tag: Lakshmi Vilas Bank
GST rollout: On-boarding tax network, cash crunch top SMEs’ worries
While the panellists at a conclave on ‘GST and its impact on SMEs’ were in agreement on sticking to a July 1 GST rollout agenda, views varied on its impact on trade. And from the discussions that followed, it was apparent that the participants’ apprehensions were not as much on the GST rate slabs…
Coimbatore to host discussion on GST impact on SMEs
A panel discussion on GST and its impact on small and medium enterprises is scheduled in Coimbatore on June 9. The objective of this discussion is to educate SMEs on the Goods and Services Tax (GST), its implications and opportunities. With just three weeks left for the roll-out of the tax regime…
SME loan portfolio to witness 15% growth: Lakshmi Vilas Bank
Lakshmi Vilas Bank would continue to focus on the retail and SME segment, its Chief Executive and Managing Director Parthasarathi Mukherjee said. Speaking to reporters after inaugurating the 2-day SME Expo now underway at Suguna Kalyana Madapam in Coimbatore, he said that the 90-year-old institut…
लक्ष्मी विलास बैंक SME, रिटेल और कृषि क्षेत्र में देगा ज्यादा लोन
चेन्नई: लक्ष्मी विलास बैंक (LVB) साल 2019 तक मुख्य व्यवसायी क्षेत्रों की हिस्सेदारी को बढ़ाने के लिए अपनी ॠण नीति में सुधार करेगी। अभी तक बैंक की लोन नीति में खुदरा, एसएमई और कृषि की 55 फीसदी हिस्सेदारी थी। जो लगभग 20,069 करोड़ है जिसमें कॉरपोरेट सेगमेंट की गणना शामिल नहीं है। चूँकि एमएसएमई और [&…
Lakshmi Vilas Bank to lend more to retail, SME, farm sectors
Chennai: Lakshmi Vilas Bank (LVB) will revamp its loan policy to increase the share of its core business segments to three-fourth of the loan book by 2019. Its key segments — retail, SME and agriculture — had a combined share of about 55 per cent in its loan book of ₹20,069 crore (as of September…
Lakshmi Vilas Bank Q4 profit up 22.5% on retail, SME growth
Private lender Lakshmi Vilas Bank on April 27 saw its Q4 profit grow 22.5% to Rs 49.07 crore year-over-year from strength in its retail and SME lending. The commercial lender’s Q4 net income increased 14.3% to Rs 758.84 crore from Rs 663.97 crore for the same period last year. “We are…
CII arm helps SMEs secure loans of Rs. 650 crore
The SME Finance Facilitation Centre of CII has facilitated the members of Small and Medium Enterprises to receive loan from various banks to the tune of Rs. 650 crore, according to Amit Kumar Tripathi, Deputy Director, and Confederation of Indian Industry. Speaking at a session on “empowering SME…
CII to launch exclusive website to enable SME Finance
Confederation of Indian Industry will be launching an exclusive website for non-members within a month for fostering entrepreneurship, through its SME Finance Facilitation Centre. Having forwarded loans to the tune of Rs. 650 crore to 120 SME units in manufacturing, IT, ITES and other areas since…