Mumbai: Microfinance companies such as Ujjivan have either stopped or slowed lending in pollbound Uttar Pradesh, saying local politicians are spreading rumours that the demonetisation drive is something like a farm loan waiver and people need not repay their loans. “We are not lending in UP till …
Tag: Narendra Modi
Modi invites investment for big corporates and SMEs
In a directive to Indian ambassadors abroad, the Narendra Modi government has asked them to invite not just the big companies to invest and ‘Make in India’, but also try and streamline investments for even the smaller and the smallest of all. Indian ambassador to Italy Anil Wadhwa told that it w…
Demonetisation Effect | Tech start-up Unocoin launches mobile app to buy & sell Bitcoin on the go
Amidst surge in digital transaction after Prime Minister Narendra Modi demonetisation drive, Bangalore based technology startup Unocoin which deals in bitcoin, has launched mobile app for both iOS and Android devices to help consumers buy, sell, send, receive and store bitcoin all in one place, f…
Pay 50% tax on unaccounted deposits, or 85% if caught: Govt
New Delhi: Providing a window to black money holders, the government on November 28 proposed to levy a total tax, penalty and surcharge of 50 per cent on the amount deposited post demonetisation while higher taxes and stiffer penalty of up to 85 per cent await those who don’t disclose but a…
Demonetisation | PM urges SMEs to embrace cashless mode to multiply turnover
In his first monthly radio address after demonetisation, Prime Minister Narendra Modi on November 27 urged small businesses and workers to embrace cashless transaction through mobile banking and plastic money. “I would like to tell our small and micro businesses to take up this opportunity …
Textile revolution taking over India, says Smriti Irani
‘Unique’ is an overwrought word, sprinkled liberally to add a beatific halo to things we’re desperate to pluck out of the mundane. Sometimes, though, it applies perfectly; it may even sound a little inadequate. Like when we’re describing Indian textiles—the rich brocades of Benares, wrapped in bu…
Currency Switch Impact | Who gains, who loses
It has been a little under two weeks since Prime Minister Narendra Modi declared that Rs 500 and Rs 1,000 notes will no longer be legal tender. Although it is still early days, the impact of the move to squeeze 86% of India’s currency in circulation is beginning to take effect. While the sudden m…
Currency Switch Impact| PM’s move will infuse a seismic shift in adoption of e-payments
On November 8th, Prime Minister Narendra Modi announced that, effective from 12 am on the 9th, all currency of Rs 500 and Rs 1,000 denominations would no longer be considered as legal tender. The will instead be circulating new Rs 500 and Rs 2000 notes. The PM made an impassioned appeal to citi…
Currency Ban Impact | India Inc supporting Modi’s strike, seeks immediate relief for SMEs
Assuring Prime Minister Narendra Modi of India Inc’s full support in the fight against black money and corruption, the ASSOCHAM on November 17 said though the short-term hardship will lead to long-term cleaning up of the economy, some immediate relief should be considered for the industry, …
Govt spent Rs 4.5 cr to assist women entrepreneurs during 2014-16 | MSME Mos Giriraj Singh
Despite its emphasis on women empowerment, Narendra Modi Government has not done much to help out women entrepreneurs. It has doled out only Rs 4.5 crore for assistance of about 12 thousand women entrepreneurs during past two financial years. Of this amount 22 lakh was granted to 750 women from t…