The strengthening of MSMEs (Micro, Small and Medium Enterprises) is vital to ‘Make in India’ programme a success, said N Gopal, General Manager, RBI, Bengaluru. Inaugurating an MSME meet, organised by RBI in Mangaluru on May 14, he said there is a need to handhold MSMEs as they have the potential…
Tag: RBI
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…
NSE to launch platform for financing SMEs against bills
The National Stock Exchange (NSE) is planning to launch a new trading platform for bill discounting or trade receivables of micro, small and medium enterprises (MSME). The country’s largest exchange has forged a joint venture with the Small Industries Development Bank of India (Sidbi) for the new…
Ensure J&K SMEs get hassle-free loans, says Mehbooba Mufti to Raghuram Rajan
Jammu and Kashmir Chief Minister Mehbooba Mufti on April 30 sought Reserve Bank of India’s (RBI) support for youth empowerment in the state, while urging premier banking institutions to reach out to young, budding entrepreneurs and help them establish viable business units. She said she exp…
Ujjivan expects modest growth on way to becoming a small bank
Bengaluru-based Micro Finance Institution Ujjivan Financial Services, which will hit the primary market on April 28 with a Rs 900-crore IPO, expects moderate growth in the next couple of years as it transitions into a small finance bank. “The RBI has told us for the first two years that we …
TPG leads $210-million funding in Janalakshmi Financial Services
TPG has led a $210-million (about Rs 1,400-crore) funding round in Janalakshmi Financial Services, as the global private equity major along with existing investors, double down on the country’s largest Microfinance Institution (MFI). The round, which has a mix of primary and secondary compo…
Commerce Ministry wants priority sector status for export credit
The Commerce Ministry will seek priority sector status for export credit and focus on a revival of Special Economic Zones (SEZs), as it has identified six areas to prop up outbound shipments in goods, which contracted for a 15th straight month through February. Following the first meeting of a re…
RBI looks to improve ease of doing business for SMEs & Startups
The Reserve Bank of India (RBI) on April 05, 2016 said it will lay down a framework by September 2016 for accreditation of credit counselors who can act as facilitators for entrepreneurs to access the formal financial system with greater ease and flexibility. Presenting the first Bi-monthly Monet…
Small businesses are driving India’s mobile banking growth story
Mobile banking in India seems to have finally turned a corner. The value of transactions made from mobile phones in the country was the highest in December 2015, compared to a year ago. And corporate accounts—especially Small and Medium Enterprises (SMEs)—are bigger growth drivers than individual…
Mixed reactions to RBI’s repo rate cut by 25 basis points to 6.5%
The Reserve Bank of India on April 5 cut the repo rate by a further 25 bps and also took measures to ease the liquidity constraints in the banking system. It seems to be giving hopes for the industry and consumers that interest rates in the economy will fall faster than earlier. Actions taken by …