MSME Ministry for revival of sick units

The Government will work out modalities to revive sick industry soon, Union MSME Minister Kalraj Mishra has said. At a regional conclave of MSMEs from states of Punjab, Haryana, Chandigarh, Delhi, Uttrakhand, Jammu and Kashmir and Himachal Pradesh, Mishra said “the idea behind such conclave…

SIDBI reports 5% drop in net profit

SIDBI okays Rs 600 crore under India Aspiration Fund

The Small Industries Development Bank of India (SIDBI) has approved Rs 600 crore under the India Aspiration Fund so far, said the Joint Secretary and Chief Vigilance Officer, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Shailendra Singh on February 21 Singh pa…

AskMeBazaar demands GST roadmap in Budget 2016

AskMeBazaar, an online bazaar with many stores from across India, has demanded that forthcoming budget should come out with clear cut roadmap for the rollout of game changing indirect tax reform, Goods and Services Tax. With growing e commerce, rollout of GST is critical for its growth as it is l…

DHFL sees five-fold jump in SME loans by 2018

Mortgage lender Dewan Housing Finance (DHFL) expects a five-fold jump in small and medium enterprises (SME) loans by 2018 as part of its business diversification plan. “With the focussed approach, we expect our SME loan portfolio to increase to Rs 5,000 crore by 2018“, DHFL Chief Exec…

Vast investment opportunities in Haryana | CM Manohar Lal

Haryana Chief Minister Manohar Lal wooed investors during the ‘Haryana Investment Session’ a roadshow being held as part of the Make in India Week in Mumbai. The mega event is being organized by Confederation of Indian Industry (CII) in partnership with the Department of Industrial Policy and Pro…

Ramesh Abhishek to be new DIPP Secretary

Ramesh Abhishek, a 1982 batch IAS officer from Bihar cadre, will be the new Secretary in Department of Industrial Policy and Promotion (DIPP), an official announcement said. Abhishek comes in place of Amitabh Kant, a 1980 batch Kerela cadre IAS officer, who will head to Niti Aayog as its Chief Ex…

ASSOCHAM wish-list to step-up Credit Flow to MSMEs

India’s apex industry body Associated Chambers of Commerce and Industry of India (ASSOCHAM) wish-list to banks to improve credit flow to MSMEs: Managers of specialized MSME bank branches should be given more powers and flexibility. The specialized MSME branch should focus only on MSMEs. RBI shoul…