The government has sought to allay fears that loans extended under the Mudra scheme, particularly those given through Micro Finance Institutions (MFIs), would add to bad debts in the lending system. There were apprehensions that these unsecured loans carried high risks. Mudra loans are given to t…
Tag: Mudra scheme
New model formulated under MUDRA scheme for handloom sector: Textiles Secretary
The Ministry of Textiles has set a target of extending MUDRA loans to five lakh handloom weavers in the next three years. This was announced by Union Textiles Secretary, Rashmi Verma, at a national workshop on MUDRA scheme for handloom weavers and artisans, organized by Office of Development Comm…
United Bank bets big on MSME sector
State-run United Bank of India has said it will focus its lending on Micro, Small and Medium Enterprises (MSMEs) and retail according to news agencies. The bank is planning to raise up to INR 1000 crore in one or more tranches through Qualified Institutional Placement (QIP) for which it sought sh…
Government committed to develop and promote handloom sector | Textiles Minister, Santosh Kumar Gangwar
The first meeting of the recently constituted All India Handloom Board was held in New Delhi, on 19th April, 2016. The Chairman and Union Textiles Minister, Santosh Kumar Gangwar gave an overview of the various initiatives being taken by the Government for the development of the sector. The Texti…
KASSIA seeks simplification of subsidy claims process
Karnataka Small Scale Industries Association (KASSIA) wants a simplified process for submitting subsidy claims, and permits for online submission for claiming subsidy by small and medium enterprises (SMEs). The trade body, in its memorandum submitted to Giriraj Singh, Union Minister of State for …
Central Govt to review ceiling limit for MSMEs
The proposal to revise ceiling limits for Micro, Small and Medium Enterprises (MSMEs) is already before the Standing Committee of the Lok Sabha, said Giriraj Singh, Minister of State for Micro, Small and Medium Enterprises. He was speaking at an interaction meet held on March 11. Singh was respon…
Arun jaitley makes ‘room’ for Startups & SME, supporting act falls short of an Oscar
In a speech peppered with references to startups and MSMEs, Finance Minister Arun Jaitley in his Budget presentation for 2016-17 had a series of policy initiatives and schemes that aimed at easing the hurdles that startups face and ensuring MSMEs in the country get a boost. Launching the Startup …
Anis Chakravarty,Deloitte Lead Economist | More could have been done for MSMEs
The Finance Minister has announced the Budget 2016 largely focused on a healthy dose of circumspection in light of an adverse global economy and a focus on the basic and poorer constituents of the Indian economy. Though there were initial apprehensions on meeting the fiscal consolidation plan, he…
Budget 2016 | Quotable Quotes
“Finance Minister spent a considerable amount of time in trying to address the rural distress and the difficulties being faced by the farmers. The emphasis on the budget on various schemes and ideas, which including for instance the linking of the MNREGA scheme to rural challenges, is very signif…