Tag: Pradhan Mantri Mudra Yojana

Need to strengthen loan restructuring mechanism: Meghwal

New Delhi: The loan restructuring mechanism should be bolstered if the government were to get a firm grip on bad loans, said Minister of State for Finance Arjun Ram Meghwal. “We need to strengthen the loan restructuring mechanism… it will, along with various other measures taken by bo…

How we are nurturing SME growth through financing solutions

Despite their importance to the Indian economy, MSMEs suffer institutional neglect with access to financing at a reasonable cost being one of the key pain points for small businesses. However, a combination of realisation of the importance of this segment, improved risk appetite, and innovations …

Budget 2017: ‘Big Relief’ to MSME sector, says Kalraj Mishra

New Delhi: Asserting that the Budget provides a ‘big relief’ to the MSME sector, Union Minister Kalraj Mishra today said announcements like the lowering of income tax for smaller firms and doubling the lending target under MUDRA Yojana will benefit small entrepreneurs in the country. …

तंगालिया बुनकरों को करघा खरीदने में 90 फीसदी देगी सरकार: स्मृति ईरानी

सरकार ने तंगालिया बुनकरों को बढ़ावा देने के उद्देश्य से उनके लिए हथकरघा खरीद को सरल बनाने के लिए एक योजना बनायी है। इस योजना के तहत सरकार सहायता राशि के रुप में हथकरघा खरीद का 90 फीसदी अदा करेगी। यह योजना तंगालिया बुनकरों को प्रत्साहित करने के साथ साथ उनकी परेशानियों को भी कम […]

Govt to support Tangaliya weavers: Smriti Irani

Ahmedabad: Government of India will facilitate Tangaliya weavers in purchase of looms, by providing them an assistance amounting to 90 percent of the price of looms. The Union Textiles Minister Smriti Irani made this announcement, during her interaction with Tangaliya weavers in Surendranagar dis…

Indian SME trends: The year gone by and 2017

Flourishing amidst a challenging environment, the Small and Medium Enterprises ( SMEs) of India experienced several highs and lows in the past few years. With the Indian economy expected to emerge as one of the leading economies in the world and likely to become a $5 trillion economy by 2025, maj…

Corporation Bank bags Best MSME Bank Award

The Corporation Bank has bagged the Best MSME Bank Award 2016 instituted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM). The bank’s Managing Director and CEO Jai Kumar Garg received the award from Union Minister of State for MSME Haribhai Parthibhai Chaudhary at the 4th S…

How MSMEs can overcome funding & tech challenges

Access to low-cost technology and cheap funds is perhaps one of the biggest challenges faced by the nation’s small businesses. But, even as small businesses across the country go through a bad patch, lenders are willing to take on the risk and give them the support they need. Similarly, technolog…

Mudra reports Rs 66 cr net profit in first year of operation

Micro Units Development & Refinance Agency (Mudra) on October 3 reported a net profit of Rs 66 crore and an income of Rs 364 crore in the first year of its operations. Mudra Chairman Kshatrapati Shivaji said the company’s net profit and deferred tax adjustments stood at Rs 65.93 crore w…

Government says Mudra loans not under high bad debts

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…