Start-ups have little doubt that this Union Budget will deliver. But they are keeping their fingers crossed for much more; they hope their freedom is not curtailed by reams of policy. Setting the tone, Prime Minister Narendra Modi had decisively looked at Finance Minister Arun Jaitley at Vigyan B…
Tag: RBI
PSUs have doubled their raw material buys from MSMEs | Kalraj Mishra
Union Minister Kalraj Mishra on February 16 said that sourcing of raw materials from Micro, Small and Medium Enterprises (MSME) by PSUs in the country has doubled following the government’s mandate to procure a minimum of 20 per cent raw material from the sector. “The procurement of raw materials…
Micro and Small industries are not big bank loan defaulters | RBI
An analysis of RBI data showed that agriculture, Micro and Small industries are not the major defaulters in bank loans resulting in mounting non-performing assets (NPAs) of commercial banks especially public sector banks. Reserve Bank Deputy Governor S SMundra told a CII banking summit that the m…
MSMEs important source of job creation | Raghuram Rajan
Kerala is well placed for a revolution in MSME sector, he said, adding that the state should leverage its high level of education and capabilities. Medium and Small Enterprises (MSME) are critical to economic development and a ‘level playing field’ should be ensured for them, RBI Gove…
ASSOCHAM wish-list to step-up Credit Flow to MSMEs
India’s apex industry body Associated Chambers of Commerce and Industry of India (ASSOCHAM) wish-list to banks to improve credit flow to MSMEs: Managers of specialized MSME bank branches should be given more powers and flexibility. The specialized MSME branch should focus only on MSMEs. RBI shoul…
Make in India is also about Make for India | Nirmala Sitharaman
As the government sets out to observe the Make In India week in Mumbai, starting February 13, commerce and industry Minister Nirmala Sitharaman says the programme is aimed at promoting manufacturing for both exports and domestic requirements, as opposed to apprehensions from some quarters that th…
RBI proposes easier access to Foreign Capital for start-ups
The Reserve Bank of India (RBI), in its sixth bi-monthly monetary policy statement, has proposed steps to improve ease of doing business for start-ups through easier access to foreign capital and by enabling smoother transfer of ownership. RBI Governor Raghuram Rajan said the central bank wants t…
Exclusive | Outgoing MSME Secretary outlines what to expect in the Budget
For someone who drove positive change at the MSME Ministry, there is optimism in the air. His eyes are focused on February 29 even as he is set to move on. He believes the coming Union Budget would announce path breaking set of policies that would unlock the latent potential of the sector. Meet t…
MSME Ministry to ease access to funds | Anup K Pujari
MSME Ministry is trying to develop a system to ease the access to funds. Under the proposed system, MSMEs which apply for loan will have to fill up a one page questionnaire about their requirement and a two page description regarding what they want to do, said outgoing MSME Secretary Anup K Pujar…
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…