An agreement aimed at facilitating easy access to credit for the smaller units in the MSME segment has been inked by Codissia (Coimbatore District Small Industries Association), the apex association of small industries, and the Small Industries Development Bank of India (SIDBI). “This is an exclu…
Tag: SIDBI
PM Modi to launch Stand Up India programme in April
After the launch of the Start Up India programme, the government is now gearing up for Stand Up India, which mandates each bank branch to provide one loan to a Dalit or a borrower categorised as scheduled tribe or scheduled caste, and the other to a woman entrepreneur. While the scheme is already…
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…
President Pranab Mukherjee pitches for new-age financing to drive start-ups
Noting that every start-up has to face a ‘valley of death’ as returns from innovation processes are skewed, President Pranab Mukherjee said new-age financing options like angel investors, venture capitalists and crowd funding can meet the special needs of such projects in the formativ…
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…
SMEs take big strides on bourses
Early four years after the equity exchanges launched trading platforms for small and medium enterprises (SMEs), the segment is showing signs of maturity, with institutional entities like banks and mutual funds investing in them. Some of the bigger brokerages, once focussed only on the larger comp…
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 …
FM gives Rs 500 crore to support sc/st, women entrepreneurs
Union Finance Minister Arun Jaitley said the government will partner with Dalit Indian Chamber of Commerce and Industry (DICCI) to set up entrepreneurial hubs for entrepreneurs from the backward classes. Jaitley, presenting the Union Budget for 2016-17, said the government proposes to allocate Rs…
SIDBI to raise Rs 10,000 Crore Stand up India fund corpus from RBI
The Small Industries Development Bank of India (SIDBI) will be raising the proposed Rs 10,000-crore corpus for ‘Stand Up India Fund’ from RBI, which will be disbursed to Dalit and women entrepreneurs, a top official said. “We are working to have the corpus in place for the Stand…
WASME for more flexibility to MSMEs in the Budget
World Association for Small and Medium Enterprises (WASME) seeks a flexible Budget for MSMEs to extend support to the sector’s development. “Without MSME we can’t think of our economy and development. We have to be flexible”, says WASME ED Sampa Banerjee. Government has initiatives like Prime Min…