Country’s largest lender State Bank of India on January 15 announced launch of SBI e-Smart SME to offer easy working capital to online e-commerce players. Country’s largest lender State Bank of India today announced launch of SBI e-Smart SME to offer easy working capital to online e-commerc…
Tag: SMEs
SIDBI provides Rs 1,100-crore risk capital assistance to 500 MSMEs
Small Industries Development Bank of India (SIDBI), the financial institution for promotion and financing of MSMEs, has extended risk capital assistance of close to Rs 1,100 crore to 500 MSMEs, it said in a statement on January 15. “Some of the successful assisted entities include – Wildcraft, Sm…
Need to evolve customized funding solutions for SMEs: RBI
The Reserve Bank of India is of the view that the ‘one-size-fits-all approach’ of banks is detrimental when it comes to lending to small and medium enterprises (SMEs). In a recent report prepared by RBI Executive Director Deepak Mohanty, global examples such as Amazon Lending and supplier financi…
Govt likely to promote SMEs in Capital Goods sector
Amid not-so-encouraging performance of the capital goods sector in the country, the government is considering setting up a technology development fund for the sector even as it explores ways to promote SMEs and bring in standardization. According to a senior official in the department of heavy in…
Start-ups warm up to corporate biggies for fresh revenues
Many Indian start-ups, engaged in fierce competition and consolidation, are now increasingly collaborating with corporate majors to provide them services that different vendors used to provide them previously, thus creating new sources of revenue. Earlier, the corporate majors would engage differ…
Govt. to sell low-cost medical kits
The government is ready to market several low-cost medical innovations, including home kits for measuring blood glucose, hemoglobin levels and real-time diagnosis of malaria and dengue, which have been developed by the Department of Biotechnology (DBT) in association with start-ups supported by t…
Parrikar unveils contours of Defence Procurement Policy
Almost fourteen months after becoming Defence Minister, and after missing numerous self-imposed deadlines, Manohar Parrikar announced the contours of the Defence Procurement Policy of 2016 (DPP-2016), which will guide military acquisitions after it is promulgated in another two months. The policy…
MSME sector in Tamil Nadu sore over delay in flood relief measures
Industry associations representing micro, small and medium enterprises from the flood-hit areas in Tamil Nadu lamented the continued delay in disbursement of financial support from the government, banks and insurance companies. At an interactive session organised by the Southern India Chamber of …
Make MUDRA Independent: CAIT
The Confederation of All India Traders (CAIT) has urged Finance Minister Arun Jaitley to free Mudra from the clutches of Reserve Bank of India by bringing in necessary legislation in Parliament. Mudra should be made an independent regulator to effectively cater to the financial needs of non corpo…
ARCIL to focus on loan recovery from retail borrowers, SMEs
In a strategy shift, Asset Reconstruction Co. (India) Ltd (ARCIL) has decided to focus on recovering loans from retail borrowers and small and medium enterprises (SMEs), while looking at mid-sized companies on a selective basis. Vinayak Bahuguna, managing director and chief executive officer of t…