K K Jalan, Secretary, Ministry of Micro, Small and Medium Enterprises (MSME), on September 19 urged the Micro, Small and Medium Enterprises (MSMEs) in the country to update the details of their enterprises on the MSME data bank. This, he said was mandatory, the updated data would be used for evol…
Tag: NBFCs
Small is Big as startups look for a space in booming SMEs
The sheer number of SMEs in India has made them an attractive community for startups to target for business, with many companies increasingly focusing their attention on them and working to rope them in through incentives and value-added services. Online marketplace ShopClues, which hosts half a …
Government says Mudra loans not under high bad debts
The government has sought to allay fears that loans extended under the Mudra scheme, particularly those given through Micro Finance Institutions (MFIs), would add to bad debts in the lending system. There were apprehensions that these unsecured loans carried high risks. Mudra loans are given to t…
Rubique scores a hit for its SME products with big names on board its platform
Rubique, the one-stop online marketplace providing a technology-enabled end-to-end solution to financing needs of individuals & SMEs, endeavors to further ease the concerns of SMEs as well as acquire and retain a valuable set of customers for banks and FIs. With this objective in mind, it has…
Paytm to help SMEs get products from China
Digital payments and e-commerce platform Paytm is working with sellers in India to help them source products from neighboring China, according to a senior company official. While the company has already started sourcing products under the fashion accessory category on a pilot basis, it plans to a…
CII launches SME finance facilitation centre in Uttar Pradesh
CII (Confederation of Indian Industry) has launched the SME finance facilitation centre in Uttar Pradesh. The Micro, Small and Medium Enterprise (SME) sector is of critical importance in reviving growth. While the government has taken several measures to promote MSMEs, access to credit remains a …
Edelweiss Retail Finance expands partnership with Indifi Technologies
Indifi Technologies, an enabler for SME funding in India, has successfully expanded its partnership with Edelweiss Retail Finance, as a lender on its online lending platform. With this association, Edelweiss Retail Finance will now extend lending to small businesses across multiple segments that …
Private banks keen to play venture capitalists to startups
Top private sector banks with deep reserves are now playing venture capitalists to startups at a time when startup valuations are sliding and angel investors have become more cautious than before. ICICI Bank , HDFC Bank and Axis Bank have formed separate lending teams to fund small startups, main…
Askme Fin plans payment services for SMEs
E-commerce marketplace Askme Bazaar plans to help small and medium vendors who are transacting on its site by arranging credit and insurance products for them. These services will be provided via Askme Fin, the groups’ financial services platform. In the last 2-3 months, Askme Fin has helped abou…
RBI to regulate the peer-to-peer (P2P) lending business
The RBI’s move to regulate the peer-to-peer (P2P) lending business has evoked good response with most participants saying that it could provide greater confidence to lenders and borrowers, as also to venture capitalists. The space has some 35 startups now and more than 20 of them were found…