Direct benefit transfer-based relief measures for farmers and the SME sector in the wake of the hardships caused by demonetisation could be the big announcement to look out for in Prime Minister Narendra Modi’s New Year’s Eve speech. According to a report, the government is keen to bo…
Tag: Demonetisation
RBI expands scope for issuing pre-paid cards beyond listed cos, relief to SMBs
In a significant move, the Centre and the Reserve Bank of India now have a solution for a pain point that factories and export houses are facing post-demonetisation. These entities can now digitally disburse money to unbanked contract workers via pre-paid cards. The Reserve Bank has expanded the …
A German model for our MSMEs?
Job-creating growth is likely to be a priority of the Modi government — especially in the context of the contraction expected in the wake of demonetisation — when it presents the Budget on February 1. The Budget presents a unique opportunity for redefining our entire approach towards medium, smal…
Businesses can soon cash in on Aadhaar-enabled payments: Ravi Shankar Prasad
After unveiling a slew of ‘incentives’ for digital payment, the government may roll out certain ‘disincentives’ for cash payments as well in the coming year, said Law and IT Minister Ravi Shankar Prasad in an interview, Prasad spoke about measures that the government is taking to push cashless tr…
Demonetisation: MSMEs braced for more challenges ahead
Cash-dependent Micro, Small and Medium Enterprises (MSMEs) across the country have borne the brunt of the ongoing demonetisation exercise. With about 86 per cent of the currency (high denomination Rs. 500 and Rs. 1,000 bank notes) in circulation being scrapped with effect from November 9, and the…
Needed, a comprehensive National MSME Policy | ASSOCHAM
The MSME sector contributes 8 per cent to the GDP, whilst employing more than 80 million people. Growth in micro and small enterprises has been consistent over the past five decades due to a combination of government support, implementation of technological enhancements, and support by the bankin…
Textile industry welcomes move on cotton purchase
The cotton textile industry in southern India has hailed Textile Minister Smriti Irani for announcing unique terms and conditions for procuring cotton from Cotton Corporation of India for the benefit of MSME textile units. Under the new terms and conditions for fully pressed bales of CCI facilita…
Kalraj Mishra allays fears of cash curb hitting MSMEs
Economic activities in the cash-driven informal sector may have been adversely affected by demonetisation, but the government does not foresee any major shrinkage in the overall production for FY17. “There might be some short-term contraction in production but as per the information given b…
Unorganised sector to be worst-hit by demonetisation: Report
The unorganised sector in India will be the worst hit by the November demonetisation of high value currency, while lots of industries in the organised sector would be impacted by the shortage of cash required to run business, a market analyst said. “The unorganised sector is expected to bea…
Demonetisation: Liquidity problem may worsen bank NPAs as SMEs face crisis of repayment
The surprise demonetisation resulted in an extraordinary amount of funds available to banks, albeit for a short period. However, demonetisation will affect the banking sector in terms of non-performing assets (NPA), particularly in the context of last week’s bimonthly Monetary Policy Statement. L…