The Yogi Adityanath government in Uttar Pradesh has urged the Small Industries Development Bank of India (SIDBI) to institute a start-up fund for promoting micro, small and medium enterprises (MSMEs) within the state. Sidbi Deputy Managing Director Ajay Kumar Kapur, said on July 7 that the propos…
Tag: SIDBI
‘SIDBI has touched lives of more than 360 lakh people in MSME sector’
Small Industries Development Bank of India (SIDBI) has touched the lives of more than 360 lakh people in the MSME sector, directly and indirectly through various credit measures, informed officials in the 19th Annual General Meeting of SIDBI on July 07, 2017, in Lucknow. In the meeting, Ajay Kuma…
SIDBI reports 5% drop in net profit
The government backed financing institution’s total income however increased 10 per cent to Rs 6,346 crore from Rs 5,784 crore in March 2016, and provision for bad loans dropped to Rs 80 crore from Rs 225 crore a year earlier as gross NPAs decline to 1.20 per cent of the loan book from 1.51 per c…
Cabinet may give nod to Rs 2k cr Credit Guarantee Fund in July
The proposed credit guarantee fund that will help startups get collateral-free loans is likely to get the cabinet nod in July. The fund, with a total corpus of Rs 2,000 crore, was announced in January 2016 by Prime Minister Narendra Modi to enable greater financial support for startups. “We…
India-Germany to sign pact for start-up exchange programme
Indian start-ups may soon get easier access to the German market and investments, thanks to an agreement the government is planning to sign with the country for a start-up exchange programme. Commerce and Industry Minister Nirmala Sitharaman, during her recent visit to Germany alongside Prime Min…
Fund of Funds looks for fresh capital infusion
The Fund of Funds (FoF) created by the government for pumping money into start-ups is in need of a fresh infusion. The Department of Industrial Policy and Promotion (DIPP), which is the nodal department for managing the fund, has asked the Finance Ministry for an additional allocation of Rs 1,600…
#3YearsOfModiGovt: ‘Nothing much changed on ground for start-ups’
The Narendra Modi government has made a lot of promises for entrepreneurs in India, but how many of them have really helped the startup sector is a question that begs an answer. Whatever the answer, which is detailed below, a general consensus is that it is the first government that has paid more…
Start-ups will be the force multiplier to catapult country into a $10 t economy by 2030: iSpirt
India, which is in the midst of a startup boom, is ready to retake its place as a top five global economy by 2030, when its gross domestic product will cross $10 trillion. Sanjay Anandram, Advisor at iSpirt, a think tank for the Indian software products industry, said India is optimising to empow…
RBI’s trade receivables system to help MSME sector
While the government is prodding the micro, small and medium enterprise (MSME) sector to drive the economy to its next phase of growth and job creation, the entire sector is grappling with challenges of getting their payments on time. Big corporates, which usually source a part of their products …
India-Malaysia share experiences on how to support start-ups & SMEs
With a global focus on providing more support to small and medium scale enterprises (SMEs) – and recognizing that start-ups play a crucial role in creating jobs, growth, exports and innovation within most economies – Asian countries are keen to learn from each other’s experience…