Reserve Bank has included factoring transactions under priority sector lending with an aim to increase cash flow to small and medium enterprises. “To increase liquidity support for the MSME sector, it has been decided that factoring transactions on ‘with recourse’ basis shall be…
Tag: RBI
Commerce Ministry to add representation from MSME sector in board of trade
The Commerce and Industry Ministry has decided to add a representative from Micro, Small and Medium Enterprise (MSME) sector in the Board of Trade (BoT), which discusses ways to boost exports, reports media. “In order to give appropriate representation to MSME sector, it has been decided to…
RBI’s S4A route for HCC
The Joint Lender’s Forum meeting of HCC held on July 12, 2016 (Reference Date) has passed to resolve the account under the recent RBI guidelines ‘Scheme for Sustainable Structuring of Stressed Assets (S4A)’. The recommendation by leading consulting firm, EY, appointed by lenders, to opt for the R…
Credit plan envisages support for agriculture, MSMEs
A Rs.6,212.38 crore Annual Credit Plan (ACP) has been released for the district for 2016-17 envisaging priority lending support across sectors, including agriculture and MSMEs. G Vijaya, District Revenue Officer (DRO), Cuddalore launched the ACP for the fiscal prepared by the lead bank, the India…
Debt-free SMEs cash in on growth revival
For Rohan Sharma, business has never been better. Sales at his autoparts company in Gujarat are booming and the order book has almost doubled in the past year. His Bhagirath Coach & Metal Fabricators has just invested $120,000 in new machinery and plans to spend up to $1.2 million this year t…
RBI recognizes development of ports and logistical services inclusive to the growth of the economy
Mumbai, 09th June 2016: RBI in its recent monitory policy has clearly stated that increase in capacity of ports is integral to the growth of the economy. It also recognizes development of infrastructure, including ports, roads, and railways as a positive sign of economic revival in the past few y…
GDP Growth Estimated at 7.7% for 2016-17 – FICCI’s Economic Outlook Survey
New Delhi, 30 May 2016: The results of latest round of FICCI’s Economic Outlook Survey puts across a median GDP growth forecast of 7.7% for the fiscal year 2016-17. The growth in 2016-17 is expected to be supported by an improvement in the agricultural and industrial sector performance. Predictio…
Axis Bank incorporates subsidiary to operate TReDS
Private sector lender Axis Bank said it has incorporated a subsidiary A.Treds Ltd to operate Trade Receivables Discounting System (TReDS), which will help in improving flow of funds to SMEs. In November last year, the RBI had given in-principle approval to three entities to set up TReDs. The othe…
Government revises norms of performance in Credit Rating Scheme
Government approved the revision in guidelines of the Performance in Credit Rating Scheme, aiming to increase its credibility and effectiveness for both borrowers and banks. Under the revised guidelines, the fee to be paid to the rating agencies shall be based on the turnover of the Micro and Sma…
SMEs key to economic growth | Raghuram Rajan
RBI governor Raghuram Rajan on May 21 said Small and Medium Enterprises (SMEs) hold the key to creating more jobs and accelerate country’s economic growth and the sector ought to be encouraged to flourish in a hassle-free environment. Rajan stressed the need for rapid implementation of prog…