The Make-in-India initiative was launched to encourage national as well as multinational companies to manufacture in India. It was not only expected to create job opportunities and develop entrepreneur skills, but also entice capital and technology to the country. However, to make the project suc…
Tag: RBI
Banks panacea for NPAs could be an axe to cull MSMEs
“The bank is a friend, philosopher and guide of small enterprises” was the guiding motto for all banks during the past five decades. This seems to have been made into the derisive saying “A banker is one who lends an umbrella when the sun shines and takes it back when it starts raining”, by the […
MSMEs, affordable housing will be our focus areas: ESAF Microfin CMD
With the final approval coming through from the RBI for small finance bank, Thrissur-based ESAF Microfinance is all set to start banking operations by the first quarter of 2017. The bank will target the MSME and affordable housing sectors. In an interview, K Paul Thomas, Chairman and Managing Dir…
Demonetisation Effect | Jan Dhan push for tea workers
Kolkata: The Narendra Modi government’s demonetisation move is changing the century-old practice of fortnightly cash payment of daily wage or talab in tea gardens. Late on December 1st, the Tea Board of India has issued a circular to all tea producers’ bodies to open new bank accounts…
Demonetisation took a toll on manufacturing sector growth in Nov: PMI
Manufacturing sector growth in India got hampered in November as rupee demonetisation weighed on new work flows, buying activity and production, while subdued inflationary pressure may prompt Reserve Bank of India (RBI) to reduce key policy rate, a monthly survey said on December 1st. The Nikkei …
RBI holds empowered committee meeting on Jammu MSMEs
Jammu: The 35th Empo-wered Committee (EC) meeting on Micro Small and Medium Enterprises (MSMEs) was held today at RBI, Jammu. The meeting was chaired by N.K Sahu, Regional Director for J&K, Reserve Bank of India, Jammu. S.C Sharma, GM, RBI explained that the main purpose of holding the period…
Demonetisation Effect | Microfinance firms stop lending in UP on loan waiver rumours
Mumbai: Microfinance companies such as Ujjivan have either stopped or slowed lending in pollbound Uttar Pradesh, saying local politicians are spreading rumours that the demonetisation drive is something like a farm loan waiver and people need not repay their loans. “We are not lending in UP till …
SMEs to benefit in long term with digitisation: Federal Bank
RBI’s move to absorb excess liquidity by ordering the banks to temporarily place their cash deposits in the CRR window has led to a dip for Indian bonds and banking stocks on November 28. Going forward there will be good availability of liquidity and digitisation of the banking sector will …
Sick MSMEs owe Rs 40,642 cr to banks: Kalraj Mishra
The number of sick MSMEs has risen to 4,86,291 in 2016 and owe Rs. 40,642.50 crore to banks as outstandings. This is much higher than the total number of 4,73,823 sick MSMEs till March 2015 and 4,68,399 in March 2014, and almost double that of 2,22,204 in March 2013, according to the Reserve Bank…
Demonetisation | Steps to boost spending needed on urgent basis, waiting till budget may prove futile
Demonetisation is not just causing hardships for the common man it is also shifting the focus of the economic policy maker from the future to the near term. Finance Ministry officials are reacting almost every day to address the demonetisation challenges. In the process, they may be losing the pl…