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New process for MSME registration begins July 1 onwards

Udyam Registration can be filed online based on self-declaration with no requirement for documents of proof, barring Aadhar, as per the notification issued by the MSME ministry. Udyam Registration has also been fully integrated with the IT and GST systems.

World MSME Day: Small businesses deserve genuine support to return to vibrancy

MSMEs are an important part of larger national and global value chains and their health has a bearing on supply chains overall and indeed the ability to supply numerous goods and services.

World Bank approves $750 million fund to support Covid-hit MSMEs

This programme will address the immediate liquidity and credit needs of some 1.5 million viable MSMEs to help them withstand the impact of the current shock and protect millions of jobs.

CEAI urges govt to allow registration of Indian Consulting Engineers Companies under MSME category

CEAI represents the Indian Engineering Consultancy professional at the FIDIC. Its membership comprises practicing consultants, private and public sector firms. It has 300 members.

Govt to pvt lenders: Step up lending to small biz

Public sector banks have fared better on disbursements, where the share of private lenders was estimated at just under 37%.

Banks sanction about Rs 1.14 lakh crore loans to MSMEs under credit guarantee scheme

The scheme will be applicable to all loans sanctioned under GECL facility during the period from the date of announcement of the scheme to October 31 or till the amount of Rs 3 lakh crore is sanctioned under GECL, whichever is earlier.

CIA comes together over the 'Distressed Assets Funds-Subordinate Debt for MSMEs.'

This is the credit guarantee scheme for sub-ordinate debts, providing relief to 2 lakh MSMEs. According to the Government, this Scheme will support promoters of the operational MSMEs which are financially stressed under banking rules.

SBI readies Rs 1,000 crore B2B e-market only for MSMEs

YONO is currently used by the bank to hawk its products and as an e-commerce platform. It is expecting regulatory clearances to come through as the B2B marketplace is not going to earn it revenue but help with its banking business.

Innovation in a crisis: Restaurants are taking on Zomato, Swiggy on their home turf

The Covid sledgehammer to the restaurant industry has been brutal, but the sector is not going to roll over and die. Using the pandemic to innovate, the industry is now looking to make sweeping change to the way it operates.

To counter China in electronics manufacturing, need to enable Indian giants like Jio to step up: MAIT’s Nitin Kunkolienker

India’s electronics manufacturing suffers from years of neglect and flawed policies.

Planning to make MSME stock exchange and e-market place like Amazon: Nitin Gadkari

Micro, Small and Medium Enterprises Minister Nitin Gadkari attended ‘Mahabiz' organised by Gulf Maharashtra Business Forum on June 12 via video-conferencing. While addressing them, Gadkari said, “The idea is of making MSME stock exchange where common people and investors will be able to invest money in MSME. Lot of MSMEs are doing very marvelous job. They have good exports and this is an opportunity for NRIs and FDI. At the same time, we are now planning to make e-market place for MSMEs like Alibaba and Amazon and we are working on it.”Planning to make MSME stock exchange and e-market place like Amazon: Nitin Gadkari

Tanneries in tatters: Country’s leather sector on the verge of collapse

With payments worth crores stuck overseas, the Indian leather sector has been hit hard by the economic fallout of the pandemic. Without government help, the sector will be in severe distress.

The big owe: How do you fix Rs 5-lakh crore in dues? Strengthen TReDS

To tackle the humongous level of unpaid dues, the Trade Receivable Discounting System (TReDS), an online bill discounting platform, was meant to be the answer. Six years after its launch, the platform may have come up woefully short.

Private banks will catch up with PSBs in disbursing collateral-free loans to MSMEs: Uday Kotak

For ensuring sustainable development of Indian MSMEs, Kotak also highlighted the importance of adhering to good business governance practices.

Tech companies struggled to get small businesses on the digital bandwagon. Then came the pandemic

For years, IT majors have been trying to target small businesses and get them to be a part of the digital world. The pandemic has been an unlikely ally.

Unbroken link: How tie-ups with MSMEs helped large players

No large player can execute a big project on its own strength. It requires the load-bearing capacity of several small and micro players who, in turn, depend on the financial prowess of the large company.

Nearly half MSMEs witness 20-50% impact on earnings due to COVID-19 pandemic: Survey

The findings are based on responses from 14,444 MSMEs. The survey, conducted in the second half of May 2020, focussed on the financial impact of the pandemic on MSMEs and their outlook towards the earnings.

We plan to increase Village Industry’s turnover to Rs 5 lakh crore in 2 years: Nitin Gadkari

Union Minister for Micro, Small and Medium Enterprises Nitin Gadkari said that the government is trying to make Village Industry’s turnover to Rs 5 lakh crores within two years, from the current Rs 88,000 crore till March-end. He said, “The village industry turnover is Rs 88,000 crores till March-end. We target to make it Rs 5 lakh crores within two years. Our highest priority is to create employment potential in agricultural, rural and tribal areas.”We plan to increase Village Industry’s turnover to Rs 5 lakh crore in 2 years: Nitin Gadkari

Perception of UP as an investor destination is changing: Sidharth Nath Singh

Things are looking positive in UP , the perception is changing and that is key before bringing in industry, believes the state MSME minister.

Only 30 to 40% MSME units have opened for work in Unlock Phase 1: FISME’s Animesh Saxena

Even as factories around the country open up gradually, the fear of Covid-19 remains. Migrant workers are reluctant to come back. Most SMEs are working with marginal staff and the question on everyone mind is, when will things become normal again?

Over 90% of sellers back on platform, seeing huge traction in new sign-ups from MSMEs: Flipkart

Uttar Pradesh, Maharashtra, West Bengal, Delhi and Tamil Nadu were the top states where local micro, small and medium enterprises (MSMEs) have shown maximum interest in taking their businesses online.

SBI sanctions loans to over 4 lakh MSMEs under credit guarantee scheme

SME products were highlighted to the customers to increase awareness and enable them to choose the right product for their business, SBI said in a statement.

19 million masks, 100,000 liters of sanitizer: How women entrepreneurs in India’s hinterland stayed afloat in a collapsing economy

With minimal infrastructure, absence of any manufacturing unit and machines, women entrepreneurs across India’s remote villages and districts have scripted a success story, along with a generous dose of grit and determination.

Government’s Rs 3 lakh crore MSME package best disbursed via digital MSME underwriting

If credit is not disbursed judiciously then the much need MSME credit guarantee package may not create the full bank-for-the buck.

SBI sanctions Rs 15,000 crores under Covid Emergency credit line to MSME

The bank said it has also re-assessed working capital limits, and made available restructuring benefits to eligible MSME customers.

Instamojo launches InstaCash to solve the liquidity challenge for MSMEs

The company has also introduced mojoPlus which enables merchants to earn points on transactions and redeem it to avail discounts on Instamojo fees.

Growth-oriented MSMEs looking to list on bourses can get 15% equity infusion from Govt: Nitin Gadkari

MSMEs that are growing fast, have a good track record of GST, income tax and bank turnover; will get a rating through a simplified system. On the basis of that the Government will provide 15% equity infusion, which will be a good support for MSMEs looking to tap the capital market, says Union Minister for Micro, Small and Medium Enterprises, Nitin Gadkari.Growth-oriented MSMEs looking to list on bourses can get 15% equity infusion from Govt: Nitin Gadkari

Will provide 15% equity infusion in MSMEs that want to tap the capital market: Nitin Gadkari

There are many MSMEs with good growth potential and the Government now wants to nurture them and help them list on the bourses through the fund of fund scheme. Along the way it also hopes to attract foreign investment.

Government mulling making large firms disclose MSME dues: Nitin Gadkari

MSMEs are considered the backbone of the Indian economy, contributing the bulk of Indian employment, manufacturing and exports. Many such firms have been hit hard by the COVID-19 crisis.

With losses of Rs 1,000 crore a day during lockdown, the auto component sector is hammered by the pandemic

The auto industry pinned their hopes on 2020 for a revival after 2019 proved to be a forgettable one as sales plummeted to decades low. Little did they know that a pandemic waited in the wings.

The other stock exchange: Why a lucrative way to fund a business has remained largely untapped

Being user friendly and with less compliance, SME exchanges were supposed to be a panacea for cash strapped small businesses to find funding. Eight years since its launch, the platforms face a familiar woe - liquidity.

SBI creates separate vertical to drive MSME, agri finance

Amid the COVID-19 pandemic, SBI has been at the forefront in providing relief measures to existing SME borrowers.

PSBs disburse Rs 12,201-cr loan to MSMEs under emergency credit line scheme

On May 21, the Cabinet had approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through ECLGS for the MSME sector.

Banks sanction Rs 79k crore loans to 19 lakh MSMEs, other businesses

The top lenders under the Scheme are SBI, HDFC Bank, Bank of Baroda, PNB and Canara Bank.

Covid-19 has upended a key management principle-or has it?

In the 1970s, Toyota introduced an efficient & cost-saving management strategy named Just in Time inventory.

New portal to simplify, expedite loan for MSMEs: Minister

​​Speaking at a meeting with senior bank officials and industrialists here, Velumani said the portal would be helpful to banks and industrialists.

Shape of your factory: Manufacturing in the post-pandemic era

An increased input cost is very likely to emerge across the board for industrial production. Whether by buyer compliance or by governmental regulation, it is unlikely that anyone will be exempt from the added expense of creating sanitised and hygienic work environments.

First to be hit by the pandemic, this sector will take years to make up for the losses

Much before the Covid-19 pandemic riled different sectors in India, one sector that did business with the world, saw a drastic hit in fortunes since early February.

MSMEs confident on business outlook despite pandemic impact: Survey

Majority of the films felt that the impact of Covid on earnings could be between 20-50% while more than 62% of the businesses felt that they were positive regarding their business outlook.

Not many takers for Govt’s collateral free loan: FISME’s Animesh Saxena

The Government’s Rs 3-lakh crore collateral free loan scheme is not finding many takers because it comes with a cost-burden, with an interest rate ranging from 7.5% to 9.25%. Plus, banks are still asking for too many papers, which makes the scheme unwieldy for small businesses, says Animesh Saxena, President, Federation of Indian Micro and Small & Medium Enterprises (FISME).Not many takers for Govt’s collateral free loan: FISME’s Animesh Saxena

MSMEs to be classified based on new criteria from July

The existing criterion of definition of MSMEs is based on the MSMED Act, 2006.It was different for manufacturing and services units. It was also very low in terms of financial limits.

SBI gives Rs 3,000 crore to MSMEs in a day

According to Rajnish Kumar, chairman of SBI, the amount was disbursed to 22,000 units in the MSME sector.

MSME sector on verge of collapse: Gadkari

The minister said the position of MSMEs was "worst" as they were now engaged in a "battle for their survival".

SBI disburses Rs 8,700 crore to MSMEs under emergency credit guarantee scheme

ECLGS is the biggest fiscal component of the mega Rs 20-lakh crore package announced last month.

MSMEs face existential crisis, revenue to fall a fifth: Report

For MSMEs, the fall in revenue will be steeper at 17-21%, while Ebitda margin will shrink 200-300 bps to 4-5%.

Anti-China sentiments can be used to expand our agricultural products to the world: Ajay Sahai, FIEO

Globally, people are apprehensive to buy edible products from China. India can export fruits, vegetables, processed food, cereals, tea, marine products.

PSBs sanctioned Rs 24,260 crore loan to MSMEs for 'self-reliant' campaign: Nadda

J P Nadda tweeted the announcement thanking PM Narendra Modi and FM Nirmala Sitharaman for taking these 'bold and effective' measures.

MSME definition widened further to include firms with up to Rs 250 cr turnover

The Union Cabinet on Monday said it has approved and further revised the definition of MSMEs in the country.

Retailers seek MSME tag to get some Govt support

MSME borrowers with up to Rs 25 crore outstanding and Rs 100 crore turnovers will be eligible for the emergency credit line to their businesses under the package with loans having a four-year tenor with moratorium of 12 months on the principal repayment.

Eligible MSMEs to get offer of pre-approved loan under Rs 3 lakh crore relief package

It seeks to provide much-needed relief to the MSME sector by incentivising lending institutions to provide additional credit of up to Rs 3 lakh crore at low cost, thereby enabling MSMEs to meet their operational liabilities and restart their businesses.

MSME default rate lowest in business loans

Credit bureau Trans-Union Cibil has said that two out of three MSMEs entered this lockdown with structurally strong positions.

With a low 'turnover' threshold, Government's new MSME definition sows confusion

The dual eligibility criteria of investment and turnover in govt's new MSME definition has led to confusion.

PE, VCs eye slice of Rs 50k-cr MSME fund

While the government is expected to contribute Rs 10,000 crore for the fund, Rs 40,000 crore is expected to be raised from external parties.

Centre working on Agro MSME policy: Nitin Gadkari

Gadkari called upon the industry to ensure that necessary preventive measures are taken to prevent the spread of COVID-19.

Will ensure survival of small businesses: MSME secretary

The new MSME secretary suggested that the crisis should be seen as an opportunity and units should look for new opportunities in domestic and international markets

MSME is driving force in providing employment, says Prakash Javadekar

Union Information & Broadcasting Minister Prakash Javadekar said that MSME is a strong force of the country and has a huge contribution in generating employment. “MSME Sector is considered a strong force of the country. It has a huge contribution in providing employment. The package of 3.7 lakh crore has been given for those industries,” said Minister Javadekar. MSME is driving force in providing employment, says Prakash Javadekar

Haryana to extend interest subvention for six months to MSME

Under this scheme, all the MSME units working in Haryana as on or before March 15, 2020, will be eligible to 100 percent interest benefit on loans availed for payment of the wages of employees or other expenses upto a maximum of Rs 20,000 per employee for a period of six months.

MSMEs facing difficulties in accessing COVID-related relief packages: Karnataka SSI body

KASSIA has received a number of complaints and representations from its members about the difficulties in accessing the schemes.

Finance Minister announces revised MSME definitions; no difference between manufacturing and service enterprises

An MSME with an investment limit of Rs 10 cr and a turnover of less than Rs 50 cr will be called a small unit.

Pushing for clearance of dues to MSMEs within 45 days: Nitin Gadkari

To ensure that MSME players get their dues within 45 days is a priority for the government now, says Nitin Gadkari.

Getting loans a tough ask for most MSMEs: GAME's Ravi Venkatesan

Venkatesan said most small firms are still “confused” about the government’s recent stimulus measures for the sector, such as the Rs 3 lakh-crore collateral-free loans and the Rs 10,000 core fund-of-funds for equity infusion into MSMEs.

PSBs disburse Rs 3,893 crore loans to MSMEs under Emergency Credit Line Guarantee Scheme

The scheme would be applicable to all loans sanctioned under GECL facility during the period from the date of announcement of the scheme to October 31 or till an amount of Rs 3 lakh crore is sanctioned under GECL, whichever is earlier.

Cabinet approves Rs 3 lakh cr emergency credit line for MSME; loans at 9.25% rate

The scheme aims at mitigating the economic distress being faced by about 45 lakh MSMEs by providing them additional funding of up to Rs 3 lakh crore in the form of a fully guaranteed emergency credit line.

Over one-third MSMEs start shutting shop as recovery amid Covid-19 looks unlikely: AIMO survey

The govt's package has not reached the MSMEs and is also not enough to make up for the loss, a study said.

Govt to further revise criteria for classifying 'medium' enterprises under MSME definition: Gadkari

The minister said he was also open to considering suggestions regarding enhancing the turnover limit to up to Rs 250 crore for medium enterprises, and will take up the matter with the MSME secretary.

As personal & small business loans crash, bank lending in April shrinks Rs 1.1 lakh crore

In percentage terms, the sharpest drop was in the personal segment, with middle-class borrowing through credit card outstanding and advances against fixed deposits and shares falling by over 10%.

CII poll finds Rs 1,819 crore of unpaid dues to MSME members

The sample CII poll showed that about 32 per cent of the outstanding to MSMEs have been delayed for more than 2 years and about Rs 895 crore are stuck in disputes.

Collateral-free loans, repayment of dues, revised definition: How effective is the Atmanirbhar Bharat package for small businesses?

ET Consulting Editor TK Arun shares his views on Finance Minister Nirmala Sitharaman's announcements Wednesday to rescue the ailing MSMEs - including collateral-free loans up to Rs 3 lakh crore, repayment of dues within the next 45 days, change in definition of these businesses among others. Watch now. (Text: ET Bureau)Collateral-free loans, repayment of dues, revised definition: How effective is the Atmanirbhar Bharat package for small businesses?

UP chief minister launches online fair for MSMEs, gives out loans worth over Rs 2k cr

Yogi Adityanath said this will provide additional employment to more than two lakh people and added that with this initiative Uttar Pradesh has become the first state to provide loans to such a large number of entrepreneurs transparently in such a short amount of time during the lockdown.

44% MSMEs feel stimulus package not good enough

Forty four per cent of respondents said the relief measures announced by the government earlier this week did not meet expectations and 86% wanted direct cash support from the government.

Non-MSMEs to get cheap, govt-guaranteed loans too

While the scheme has been broadly referred to as the MSME guarantee scheme, the terms of coverage are quite broad and will include other businesses as well.

The pandemic has a lesson for small businesses: It pays to be financially literate

You do not need a degree in accountancy or economics to run your business, but financial literacy is the need of the hour.

Alibaba.com hosts online summit to help Indian MSMEs navigate post Covid-19 world

Insights from Alibaba.com showcase that 65% of Indian sellers on the platform have no exporting experience while 32% of incoming sellers have no international ecommerce experience.

Sidbi working towards e-enabling MSME businesses to deal with post Covid challenges

The digital repository that is being launched could include a list of tools such as automated accounting, tax reconciliation, cloud services, cyber security, video conferencing, online meetings available free to MSMEs for a limited period of time.

MSMEs still wary of fresh loans

MSMEs expected a direct relief from the government in terms of waiving of electricity bills, payment of salaries, among others that would have helped them stay afloat, some stakeholders ET spoke with said.

A relief package for MSME sector soon; virus crisis blessing in disguise: Nitin Gadkari

The government is aware of the epidemic induced lockdown’s repercussions to country’s MSMEs, and it is going to soon to announce a relief package for the MSME sector, says Nitin Gadkari.

For two-thirds of the jobs worldwide, economic recovery from Covid-19 will be ‘U’ shaped: UNCTAD

It will not be a quick ‘V’ shaped recover for most businesses, but a slow, long-drawn process.

All Assam Students' Union stages protests opposing Assam government ordinance

AASU stated that the ordinance will alienate indigenous people from their land. The supporters of AASU on Thursday burnt copies of cabinet decisions in different places except in Kamrup (Metro) which is under lockdown.

FM provides Covid-19 relief, no fresh insolvency proceeding against MSMEs for 1 year

Now, insolvency proceedings will not be initiated up to 1 year. Earlier, the MCA had extended it to six months.

We’ll work out a formula to prop up MSME sector: Shivaram Hebbar, state labour minister

The government is aware the MSME sector is in difficulty, and if the central and state governments don’t lend a helping hand, it is going to hurt workers. Even many large-scale industries are dependent on MSME units for supply of components.

Nitin Gadkari asks India Inc to clear MSME dues

The National Highways Authority of India is also working on fast-tracking arbitration cases, which will help inject liquidity into the market, said Gadkari, who is the minister for road transport and highways and MSMEs.

Investment limit raised to help small units scale up

“A change in the definition of MSMEs was needed so that they need not worry about growing in size,” Union finance minister Nirmala Sitharaman said on Wednesday.

19% of MSMEs eligible for govt guarantee in high-risk category: CIBIL

According to TU Cibil analysis, 28% of the MSMEs have a CMR between 1 to 3 which makes them super-prime borrowers and the least likely to default.

Andhra CM releases 2nd installment of Rs 512 crore to MSMEs, spinning mills to be focus next

The state government had released the first installment of Rs 450 crore in May this year during the lockdown.

Change in definition of MSMEs will give huge boost to industry: Nitin Gadkari

While speaking to ANI amid coronavirus pandemic on May 13, the Union Minister of Micro, Small & Medium Enterprises, Nitin Gadkari spoke on economic package announced by Finance Minister Nirmala Sitharaman. On revision of definition of MSMEs, Gadkari said, "It's very important. Now they'll get all benefits. Earlier, there was classification b/w manufacturing & service enterprises. Now there's no classification, both are one..." On opening up of salons, he said, "We need to learn art of living with Corona. Mask is mandatory, maintain more than 1 metre distance, use sanitiser every time entering into house/office. I'm expecting that it (beauty parlour/salon/malls) will open early, but need to follow the guidelines."Change in definition of MSMEs will give huge boost to industry: Nitin Gadkari

Covid-19 relief: Government announces Rs 3-lakh crore collateral-free automatic loans for MSMEs

There has been a clamour for fiscal support for MSMEs ever since the first lockdown was announced.

Govt set to guarantee up to Rs 3 lakh cr loans to MSMEs

The finance ministry has floated a proposal for the Union cabinet to guarantee fresh working capital limits to small units through the National Credit Guarantee Trustee Company so that small businesses are not starved of working capital.

SAP launches initiative to make SMEs globally competitive

The courses will be made available through a mobile application for people to access via their android smartphones. Under this program, SAP India has already trained over 1 million youth with the help of 1500 physical training centers.

Small biz, big trouble: Covid-19 disruption might prove fatal for many of India’s MSME units

The biggest worry is a liquidity crunch, followed by a disrupted supply chain and labour availability.

COVID-19 pandemic to hit MSME exporters more: Trade experts

They said the magnitude of the impact on MSME exporters can be gauged from the statement of the WTO which has projected that global trade in goods is set to decline steeply between 13 per cent and 32 per cent in 2020 as countries across the world are battling the pandemic.

Congress leader RV Deshpande seeks relief for MSME sector

Congress leader RV Deshpande suggested the ESI Corporation pay 70% of salaries of eligible MSME employees treating their lockdown period as “sick leave”.

In a first, MSME body moves apex court against govt order to pay full wages

On March 29, the Ministry of Home Affairs directed “all employers” to pay wages to their workers, without any deduction, for the period of the lockdown, under Section 10(2)(I) of the Disaster Management Act and warned that noncompliance would lead to necessary action under the Act.

View: India needs to turn Covid into an opportunity for MSMEs to flourish

Even pre-pandemic and lockdown(s), MSMEs were plagued by low competitiveness. Most small firms were stuck in a vicious cycle of informality and low productivity, resulting in most remaining stunted, with 95% units employing less than five people.

Market situation for textiles recovering, say texpreneurs

The federation has advised and cautioned its members to scale-up production only after analysing the demand.

MSMEs need govt push to benefit from comparative advantage over China-made consumer goods: Report

It further said that although 2020 is a lost year, in terms of trade, India can think long-term and build relations so that it can occupy the space vacated by China.

Government fast-tracks new definition of MSMEs

The plan, which has been in the works for months, is likely to be part of the stimulus package.

Assam Governor urged not to approve MSME ordinance

“This will be disastrous for the MSMEs as their investment shall remain stuck up because of the illegality of land acquisition. This is equally disastrous for the individuals or communities on whose lands industries will be set up as they will be forced to challenge illegal land acquisition before the courts.” – Chakma said.

Proposal for relief to MSME sector on account of coronavirus

Union Minister Nitin Gadkari said the MSME sector is facing a big challenge on account of the coronavirus outbreak.

Reeling from Covid-19 lockdown, factories are ready to gradually restart. But where are the workers?

As India Inc prepares to restart ops, the question many are asking – will there be enough workers?

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