Small and medium sellers on e-commerce platforms said the latest guidelines on online retailing will give marketplaces fewer opportunities to arm twist them on matters such as pricing and return policies. But, the All India Online Vendors Association, which has 500 large and medium sellers as mem…
Tag: RBI
Revival of MSMEs by RBI applauded by FICCI-Confederation
Micro, Small and Medium Enterprises (MSMEs), including Khadi and Village/ Rural Enterprises, play a significant role in the economic growth of the country owing to their contribution to production, exports and employment. The sector has slowly come into the limelight, due to the increased focus f…
RBI instructs banks to put MSME revival framework by June 30, 2016
The Reserve Bank of India (RBI) has issued the Framework for Revival and Rehabilitation of Micro, Small and Medium Enterprises (MSMEs) along with operational instructions, to all banks for immediate implementation. Under the Framework, cases for all MSME loan accounts where principal or loan inst…
RBI revises rules for resolution of stressed MSME loans
The Reserve Bank of India on March 17 revised rules pertaining to revival of advances to small businesses and asked lenders to form district-level committees to resolve stressed loans to Micro, Small and Medium Enterprises (MSMEs). “In order to enable faster resolution of stress in an MSME …
RBI had constituted a working group on rehabilitation of sick SMEs
The Reserve Bank of India had constituted a Working Group on rehabilitation of sick SMEs, under the Chairmanship of Dr. K. C. Chakrabarty, the then Chairman & Managing Director, Punjab National Bank, to look into the problems faced by new as well as sick SMEs and suggest remedial measures. Th…
Fintechs are likely to disrupt the market by aggregating financial services for MSMEs
Financial technology companies have gain mileage over the last 5 years. Globally, the investment in online MSME finance market has grown by about 45% y-o-y and many billion dollars has been ploughed into startups in the online MSME finance market space in FY’2015 alone. With the influx of investm…
Budget 2016 | Key Highlights
Majorfocus on agriculture and farmers’ welfare, Mission to provide LPG connection to poor households, New health protection scheme, increased outlay for infrastructure, 2.87 Lakh crore Grant in Aid to Gram Panchayats and Municipalities. Setting up of 1500 Multi Skill Training Institutes and incen…
Orissa asks banks to cover Gram Panchayats
The Odisha government on February 22 asked nationalized banks to cover all unbanked panchayats in the state either by way of establishing branches or through banking correspondents as almost 75 per cent of the panchayats across the state do not have banks. The fact that credit flow had also come …
From forex to hospitality, R R Sen & Bros charts new growth path
The legacy began way back in 1912, much before India got her independence and much before any business rules and regulations were established. It started foreign exchange dealings back in 1912 and with the introduction of Exchange Control in 1939 by RBI, they were the first ones to acquire a lice…
SMEs are not major defaulters of bank loans: RBI
Amidst a sense of outrage over big pile of Non-Performing Assets (NPAs) in the public sector banks, the least amount of stress is visible among not- too fancied priority sector borrowers, comprising agriculture and the micro industrial units, according to the latest RBI data. While the ratio of t…