Mudra Bank, which is Narendra Modi government’s gift to Indian banking aiming to grow lending towards small businesses, has invested Rs 50 crore in a securitisation deal with Janalakshmi Financial Services helping the latter unlock capital. This marks MUDRA’s first ever participation …
Tag: MSME
Uttar Pradesh MSME sector received investment of Rs 13,000 crore
The Micro, Small and Medium Enterprises (MSME) sector in Uttar Pradesh received a total investment of about Rs 13,000 crore during the Eleventh Five Year Plan (2007-12). The MSME sector contributes 60 per cent of the state’s annual industrial output, employs 9.2 million people and generates…
Paytm leads $10-million funding
Online mobile wallet major Paytm has led the Series-B round of funding for on-demand auto-rickshaw aggregator, Jugnoo, for $10 million (Rs 66.65 crore). Last October, Chandigarh-based Jugnoo had received funding of $10 million from the Vijay Shekhar Sharma-led company. This is the Series-B2 round…
Mission approach to improve skills of youngsters | Giriraj Singh
Union Minister of State for Micro, Small and Medium Enterprises Giriraj Singh has underscored the need for greater participation by entrepreneurs in small and medium industries. The Centre is in the process of setting incubation centres for these enterprises in all the districts in a phased manne…
Bengaluru-based startup MyVote.Today aims to be a voice for social activism
In a social media-centered world people may have so many platforms to voice their opinion, but there are few platforms where opinions can be converted into ground-level action. Bengaluru-based MyVote.Today looks to fill that gap by providing a polling platform on various issues. “We pick up…
Gujarat e-commerce entry tax will pose challenges | Nasscom
The bill by Gujarat government to levy entry tax on interstate e-commerce transactions will pose significant commercial challenges to all stakeholders, industry body Nasscom said on April 14. “This levy of entry tax poses significant challenges both commercially and operationally for the e…
KredX raises $750,000 from Prime Venture Partners
Invoice-discounting platform, KredX has raised $750,000 from Prime Venture Partners. Founded in 2015 by Manish Kumar, Anurag Jain, and Puneet Agarwal, KredX helps Micro Small and Medium Enterprises (MSMEs) looking for working capital, connect with individual financiers. It enables growth of MSMEs…
India to support mutual cooperation among IORA members
India has called for advancing mutual cooperation among members of the Indian Ocean Rim Association (IORA) for joint marketing, transfer of technology and forming joint ventures to enable small and medium enterprises to cater to the markets in grouping. “India’s vision for the Indian …
Lithuanian start-up may ease India’s traffic
Lithuanian start-up TRAFI, which offers a public transport app to help people plan their journey, is entering the Indian market. The firm said it aims to ease India’s traffic woes by using real time data, scientific algorithms and machine learning, which gives computers the ability to learn witho…
Start-ups eye car servicing, spare parts retailing business
To tap the growing market of out-of-warranty/second-hand cars, start-ups are getting active in the car servicing and spare parts retailing space. These new players are also tying up with manufacturers to sell original spare parts. These start-ups use technology to form a marketplace that will con…