The National Small Industries Corporation (NSIC) has signed a MoU with South Indian Bank (SIB) on 11th January 2016 at the head office of South Indian Bank at Thrissur, Kerala. With this MoU, South Indian Bank becomes the 33rd bank to come under NSIC’s unique umbrella of tie up arrangements with …
Tag: MSMEs
Get rated to be banked | Varun Mirchandani, Executive Director, Onicra
“55% of registered MSMEs can tap into Rupees 5,50,00 crore fund post rating” More than half of India’s unbanked registered Small and Medium Enterprises can avail of first time credit should they get themselves rated, said Varun Mirchandani, Executive Director, Onicra Credit Rating, one of India’s…
Whopping 193 per cent MSMEs growth in Gujarat
Gujarat clocks whopping 193 percent growth in MSMEs pushing it up to second slot. The state’s share of MSMEs in the country goes up to 16% with over 3.62 lakh entrepreneurs in 2013-14. Tamil Nadu however continues to top the list with 32% share according to a recently published study by apex indu…
SBI partners with Snapdeal to launch e-platform for SMEs
Country’s largest lender State Bank of India on January 15 announced launch of SBI e-Smart SME to offer easy working capital to online e-commerce players. Country’s largest lender State Bank of India today announced launch of SBI e-Smart SME to offer easy working capital to online e-commerc…
SIDBI provides Rs 1,100-crore risk capital assistance to 500 MSMEs
Small Industries Development Bank of India (SIDBI), the financial institution for promotion and financing of MSMEs, has extended risk capital assistance of close to Rs 1,100 crore to 500 MSMEs, it said in a statement on January 15. “Some of the successful assisted entities include – Wildcraft, Sm…
Jaya eases loan burden off MSMEs, offers vendors credit
Tamil Nadu’s Chief Minister J Jayalalithaa, on January 14, announced special concessions and interest-free loans to small, medium and micro industries, besides vendors affected by the recent floods in the State. In a statement at Chennai, she said street vendors selling flowers, fruits and vegeta…
MSMEs best vehicle for inclusive growth | S C Jamir, Odisha Governor
Odisha Governor S C Jamir said, at least 25 per cent of the total procurement of any government department of PSU should be made from MSMEs. The Micro, Small and Medium Enterprise is the best vehicle for inclusive growth as it creates local demand and consumption, he said. Addressing the valedict…
Need to evolve customized funding solutions for SMEs: RBI
The Reserve Bank of India is of the view that the ‘one-size-fits-all approach’ of banks is detrimental when it comes to lending to small and medium enterprises (SMEs). In a recent report prepared by RBI Executive Director Deepak Mohanty, global examples such as Amazon Lending and supplier financi…
Govt likely to promote SMEs in Capital Goods sector
Amid not-so-encouraging performance of the capital goods sector in the country, the government is considering setting up a technology development fund for the sector even as it explores ways to promote SMEs and bring in standardization. According to a senior official in the department of heavy in…
Start-ups warm up to corporate biggies for fresh revenues
Many Indian start-ups, engaged in fierce competition and consolidation, are now increasingly collaborating with corporate majors to provide them services that different vendors used to provide them previously, thus creating new sources of revenue. Earlier, the corporate majors would engage differ…