In a relief to small and medium enterprises hit by the cash crunch in the market and the consequent slowdown in the business, Reserve Bank on December 29 said banks may provide ‘additional working capital limit’ to Micro, Small and Medium Enterprises (MSME) borrowers. This would be a one-time mea…
Tag: RBI
At Niti Aayog meet, PM Modi analyzes budget, skills, tourism
Prime Minister Narendra Modi, for the first time, attended an interaction with a set of noted economists and experts today, in which he called for innovative approaches to budget-making, and a special focus on skill development and tourism. The meet was organised by Niti Aayog. Attending the sess…
Demonetisation: Liquidity problem may worsen bank NPAs as SMEs face crisis of repayment
The surprise demonetisation resulted in an extraordinary amount of funds available to banks, albeit for a short period. However, demonetisation will affect the banking sector in terms of non-performing assets (NPA), particularly in the context of last week’s bimonthly Monetary Policy Statement. L…
Note ban kills MSME sector’s window before going cashless for GST
Hyderabad: What has demonetisation done to the struggling and attention-sought Micro, Small and Medium Enterpises (MSMEs)? These industries which were directed to go cashless before the implementation of Goods and Service Tax (GST), expected in about four more months, have been forced to go digit…
Gujarat: Over 42,500 MSME units reported ‘sick’ in 2016
Despite occupying a special realm in the biennial Vibrant Gujarat summits and being showered with financial sops through a new industrial policy, MSME units in Gujarat continue to report “sick” in large numbers. In 2016 alone, over 42,500 MSMEs units have reported “sick” in the state, which is th…
Indian exports at $20 bn in Nov grow 2.3% over last year
Signalling a definitive reversal of the continuous decline in Indian exports earlier in the year, official data on December 15 showed these grew for the third month in a row at $20 billion in November, an uptick of 2.29 per cent over $19.56 billion in November 2015. Data released by the Commerce …
Demonetisation will convert informal economy into organised sector: Assocham President
Prime Minister Narendra Modi’s drive to take the economy into a ‘less cash’ mode through a multipronged strategy would not only check the menace of black money and corruption, but would also convert a large part of the informal economy into the organised sector, according to Assocham President Su…
Bank NPAs rise, loans slow down in Sept quarter: RBI
While the share of non-performing assets (NPAs) in the banking system has risen in the September quarter, the formation of fresh bad loans has slowed down, Reserve Bank of India (RBI) Deputy Governor SS Mundra said on December 7th. “While there has been an incremental percentage of gross NPAs and…
Demonetisation Effect | Claims of business gains for digital payment firms may not be true
It has been a month since the government launched its war on cash, but it is unclear yet if the digital wallet providers have been able to piggyback because of disparate figures that have left the industry flummoxed. While online wallet companies including Paytm, MobiKwik and Free-Charge are decl…
Demonetisation SME impact: Short term pain, long term gain
Written exclusively for SMEpost.com by Rohit Arora, CEO of Biz2Credit Biz2Credit India welcomes this move announced by the Govt. to demonetize the existing series of the high denomination notes of Rs. 500 and Rs. 1000. While the move is primarily aimed at curbing the menace of black money and cou…