Demonetisation might further encourage non-banking financial companies (NBFCs) to look away from their loan-against property portfolios. “The growth rate of the loan-against-property business is likely to shrink to 15-20% this financial year, as compared with 22-24% two years ago”, sa…
Tag: MSMEs
Flush with funds, lenders must rethink SMEs’ credit support: Sitharaman
In an interview, Commerce Minister Nirmala Sitharaman said that even though micro, small and medium enterprises (MSMEs) are facing problems due to demonetisation, they will be the ones getting a better access to capital later as the banks are flushed with money now with high number of deposits in…
Currency Switch Impact | It’s a dawn of ethical business, illegality will be past
The public frenzy for getting hold of cash is visibly subsiding. However, the pressure may well be shifting to smaller towns to which currency supply may not have kept pace. Also, the next wage payment for casual workers, who may well comprise nearly 60 per cent of the workforce, is approaching. …
Currency Switch Impact | MSMEs reap benefits from investments in brand-building
The demonetisation of high-denomination currency notes has resulted in a liquidity crunch and a short-term dip in retail consumption. CRISIL believes that in times of turbulence such as this, micro, small and medium enterprises (MSMEs) that have invested in brand creation and have good recall wit…
Defence sector pitches for aggressive MSME participation
The Army, Air Force and Navy on November 11 pitched for aggressive participation of the MSME sector in defence equipment manufacturing to tap a huge USD 9.6 billion market. “The whole Indian defence budget is around USD 40 billion, of which a USD 9.6 billion market can be accessed by the MSME sec…
IIT Kharagpur & Ministry of Heavy Industries join hands to boost Make in India
West Bengal: In a move to step-up the Make in India initiative, the Department of Heavy Industries has partnered with IIT-Kharagpur to set up a proposed centre of excellence on advanced manufacturing, a Union Minister said. The centre of excellence would undertake extensive research in the area o…
Make in India eyes bigger role for MSMEs, but the sector sounds alert
At a time when the government’s Make-in-India initiative envisages a bigger role for MSMEs, a caution has been sounded: Contribution of manufacturing MSMEs in the GDP and total manufacturing output has decreased steadily in the recent past from 7.7% to 7% and from 42.2% to 37.3%, respectively, du…
NSIC opens online facilitation centre for MSMEs
Jaipur: In its efforts to improve procedural easiness and help MSMEs avail bank loans in a quicker time frame, National Small Industries Corporation (NSIC) opened its first Online Finance Facilitation Centre in Rajasthan at Jaipur, its 6th in the country. The NSIC centre will validate loan propos…
Banks or VCs; where should start-ups seek funds?
Startups have always yearned for VC funding and have been slightly unaware of the advantages of seeking the same money from government bodies. Dr. Som Singh, Founder and Trustee of Center for Entrepreneurial Excellence (CEE), spoke about the galore of advantages that startups can avail by partner…
Growth of MSMEs in IT/ITeS constrained by lack of funds
Micro, Small and Medium Enterprises operating in the information technology (IT)/IT enabled services (ITeS) space tend to find growth constrained, mainly due to lack of capital. An analysis of 4,000 CRISIL-rated MSMEs shows that those focused on IT/ITeS grew by 12 per cent per annum between FY13 …