The Economic Times
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| 27 October, 2020, 05:49 AM IST | E-Paper

    Government guarantee ups MSME loans: Cibil

    According to credit data released by TU Cibil, MSME loans disbursed in urban, semi-urban and rural regions for June is over 3 times that of February and was at 1.9 times for metro regions.

    Govt unlikely to extend credit guarantee scheme for MSME sector beyond Oct

    The maximum amount of Guaranteed Emergency Credit Line (GECL) funding under the scheme was correspondingly increased from Rs 5 crore to Rs 10 crore.

    Govt warns public against 'mischievous' activities of MSME Export Promotion Council

    The ministry said it is noticed that certain messages are being circulated in media and social media regarding issuance of appointment letter to the post of 'director' by the MSME Export Promotion Council.

    CPSEs clear dues worth Rs 13,400 crore to MSMEs in last five months: Govt

    It is mandatory for all CPSEs and the companies with turnover of more than Rs 500 crore to join this platform. However, many companies are yet to join or transact on it. Corporates have been requested to check whether their group/ company has joined the TReDS platform and is doing transactions.

    Industry hails PLI scheme, bats for an MSME targeted plan

    Industry experts contend that the PLI scheme is a well directed initiative that will help in making India a competitive destination for electronics manufacturing and give a boost to nation’s Atmanirbhar Bharat drive.

    ETRise Top MSMEs Ranking: This company wants to solve finance issues for MSMEs with loans at a click

    FlexiLoans offers SMEs a lending solution which focuses on the three key aspects of technology, products and partnerships.

    ETRISE Top MSMEs Ranking: Unveiling India’s best small businesses

    With Top MSME Ranking, the idea was to discover and chronicle businesses that are creating a new and lasting template for success.

    KVIC launches Khadi fabric footwear

    The minister said he will request actor-turned-politician Hema Malini to endorse the Khadi footwear on a pro bono basis and become its brand ambassador.

    ETRise Top MSMEs Ranking: Serving the unserved, Vivifi aims to provide digital credit to 300 million Indians

    Tackling the issue of unbelievably low penetration of credit in India, Vivifi India Finance is providing a user-friendly line of credit with no penalty charges and credit limits as low as Rs 500.

    Fail to scale: India’s manufacturing aspiration confronts the ‘missing middle’

    Millions of small units, a handful of large ones and a sprinkling of mid-sized firms characterise Indian manufacturing. The result–low productivity and an anemic growth in employment.

    ETRISE Top MSMEs Ranking: REConnect Energy and Clairvoyant India bag top honours

    The ETRISE Top MSME Ranking programme was an endeavor to showcase businesses that stand apart due to their achievements.

    SMEs witnessed the sharpest decline in urban locations: Motilal Oswal Financial Services

    The impact was clearly visible in public-sector banks which disbursed 2.6 times the loan amount in June 2020 over February. Private banks also rebounded to pre-Covid disbursal levels.

    MSME ministry lays out new guidelines for pottery, beekeeping activities

    This is being done to enhance the production, technical knowhow of pottery artisans and to develop new products at reduced costs; and to enhance the income of pottery artisans through training and modern / automated equipment.

    Covid disruption will hurt MSME recovery prospects says Moodys

    Government of India's stimulus measures like guarantees on loans to MSMEs will partially offset rising risks and help alleviate liquidity pressures in the sector but will not fully shield the sector from a downturn.

    Centre ready to waive interest on interest during moratorium

    In its affidavit, the finance ministry said the government has decided to maintain its tradition of handholding small borrowers and bear the burden arising from such waiver of interest on interest, or compound interest, for the banks.

    Government asks private sector to clear payments due to MSMEs

    The ministry has also asked corporates to ensure that they are filing half-yearly returns as mandated by the Ministry of corporate affairs on their dues to MSMEs.

    Patchy recovery means surviving beyond this fiscal will be a big problem for many small businesses

    Six months after India went into a nationwide lockdown, millions of small businesses in the country are finding it very difficult to sustain. For many, this financial year may be their last.

    Banks sanction loans worth Rs 1.77 lakh cr to 44 lakh MSMEs under credit guarantee plan

    The scheme is the biggest fiscal component of the Rs 20 lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May to mitigate the distress caused by the lockdown.

    Only half of eligible MSMEs able to tap the emergency credit line

    Loans approved under ECLGS stood at Rs 1.61 lakh crore, or 54 per cent of the targeted amount of Rs 3 lakh crore, as of September 3. The amount disbursed was Rs 1.13 lakh crore.

    Govt considering giving MSME status to dealers: Gadkari

    The minister also reiterated his appeal to major industries to clear the outstanding dues to MSMEs in a timely manner.

    Fund of funds for small businesses to be launched soon: MSME secretary AK Sharma

    “Most of the formalities are over.. in a very short while we will go to the market and invite private equity firms and venture capital funds,” Sharma said in his address at the CII Money Mobility week on Tuesday. “Because what the scheme is, one part, Rs 10,000 crore will come from the government and rest 40 (Rs 40,000 crore) is to be leveraged through the market through VC and PE firms,” Sharma said.

    Banks sanction Rs 1.63 lakh crore to 42 lakh MSMEs under credit guarantee scheme

    On the disbursement front, however, over Rs 1.18 lakh crore doled out to 25 lakh MSME units, till September 10, which were hit by the COVID-19 pandemic and ensuing lockdowns.

    FSS launches 'EmBark' to strengthen the MSME segment digitally

    The company added that the platform would have robust risk management and fraud detection capabilities to improve authorization rates while also having unified reporting and built-in analytic tools for insights into business performance.

    The fault in our approach: India’s self-reliant push fails to recognize cottage industry as critical constituent

    The road to self-reliance seems to have bypassed millions of tiny businesses. Warped policies hurt them even more.

    ETRise Top MSMEs Ranking: Want to slash your electricity bill by 80%? Kor Energy has the solution

    Renewable energy has repeatedly been the solution towards attaining a sustainable lifestyle. Tapping into this market, Kor Energy India aims to save high electricity charges of industrial establishments through rooftop solar plants.

    Karnataka makes hiring, firing easier for MSME units

    The government has amended Industrial Disputes Act, Factories & Boilers Act and Contract Labour Act, and related regulations to boost the morale of the MSME sector.

    R Narayan appointed as president of FICCI-CMSME

    CMSME plays an active role in connecting MSMEs to investors, incubators, accelerators, and assist MSME capacity building programs and services.

    Does your business need Amazon and Flipkart to sell online? For many, it cuts both ways

    Covid-19 has fuelled the adoption of e-commerce among small businesses. However, the gains of selling on an ecommerce portal may be limited because of the rising cost of doing business online, limited awareness and lack of level-playing field.

    Govt likely to allow co-op banks to lend under MSME Emergency Credit Guarantee Scheme

    Under the Scheme, 100% guarantee coverage is to be provided by NCGTC for additional funding of up to Rs. three lakh crore to eligible MSMEs and interested MUDRA borrowers, in the form of a guaranteed emergency credit line (GECL) facility.

    As the world goes ABC (anything-but-China), India amps up its electronic manufacturing

    India is stepping on the pedal to become an electronic manufacturing major. The pandemic has been the fuel.

    Lockdown: MSME relief plan being readied, says Maha minister

    He said the state government was working to ensure firms operating outside the jurisdiction of MIDC get subsidy benefits on various purchases which are currently unavailable.

    Stride Ventures makes its first investment in MSME lending platform, ZipLoan

    ZipLoan caters to the need of working capital loans for kirana stores and micro industries.

    Covid hit tourism, MSME, aviation worst: RBI survey

    The central bank conducted a systemic risk survey to capture the participants of experts on the major risks faced by the financial system, which is published in its financial stability report.

    Govt plans to create deposit-taking micro lending body for women, small businesses: Gadkari

    Speaking at an interaction with Ficci FLO, Gadkari said the government is mulling over the idea where the finance of up to Rs 10 lakh can be availed by women entrepreneurs within three days.

    RBI’s move to restructure MSME loans step in the right direction, but does not go far enough

    The heart of the matter is not liquidity but demand revival as that is what will translate to normalcy eventually.

    Over 3 lakh MSMEs have registered on Udyam portal since July: Official

    Finance Minister Nirmala Sitharaman in May had announced Rs 50,000-crore equity infusion through Fund of Funds for MSMEs.

    Nitin Gadkari launches advisory platform, RestartIndia, to help MSME sector

    It will offer solutions to the problems faced by a large number of women entrepreneurs making a livelihood by setting up very small businesses, following the pandemic crisis.

    RBI extends provisions of restructuring of MSME loans for borrowers with loan upto Rs 25 cr

    A restructuring framework for MSMEs that were in default, but were standard on January 1, 2020 is already in place.

    Capital Float crosses 1 million lifetime customers with disbursements of over $1.2 bn

    Since the onset of Covid-19, the company has seen demand surge for its small-ticket digital credit facilities, particularly for making purchases online.

    New MSME framework may pose infrastructure problems

    The framework applies on MSMEs with up to Rs 250 crore yearly turnover and Rs 50 crore investment in plant and machinery.

    99% businesses in India now in MSME category

    The numbers have come as a surprise to policymakers as the definition was finalized before looking at them in detail.

    CBDT to start sharing depreciation, turnover info of small biz with MSME Ministry

    After 14 years since the MSME Development Act came into existence in 2006, a revision in MSME definition was announced in the Aatmanirbhar Bharat package on May 13.

    Banks sanction Rs 1.87 lakh cr to 50.7 lakh MSMEs under credit guarantee scheme

    The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May to mitigate the distress caused by lockdown due to COVID-19 by providing credit to different sectors, especially MSMEs.

    MSMEs request measures for smooth operations of Industries

    ​​In a representation to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, the associations wanted the government to operate pubic transport like Rail, Road and Air in a normal way and introduce special trains to bring back the migrant workers.

    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.

    Aye Finance appoints Hero FinCorp’s Samir Mehta as deputy CEO

    In his new role as deputy CEO, Mehta will focus on scaling up Aye’s business and will implement strategies to further enhance the MSME lenders’ performance and capability.

    Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman

    The FOF scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists.

    MSME Minister Nitin Gadkari urges Amazon to give micro segment of Indian MSMEs a push

    Indian MSMEs are increasingly seeing e-commerce exports as an opportunity to grow their business. The number of exporters on Amazon has grown to over 60,000, with sellers joining from metros as well as tier 2 and tier 3 cities.

    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.

    Banks sanctions about Rs 1.20 lakh crore loans to MSMEs under credit guarantee scheme

    The Emergency Credit Line Guarantee Scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May.

    Banks cannot refuse credit to MSMEs covered under emergency credit facility: FM

    As part of the Aatmanirbhar Bharat Package, the government had announced Rs 3 lakh crore Collateral-free Automatic Loans for businesses, including MSMEs.

    Focussed on digitising MSMEs in India, on-boarding more sellers: Amazon

    The company has launched Local Shops on, offering shopkeepers and retailers with physical stores the ability to register to serve more customers from their local areas. Since launch, more than 11,000 sellers have enrolled in the program

    Government looks to expand small business loan coverage

    In May, finance minister Nirmala Sitharaman had announced the ECLGS to provide top-up loans of up to 20% to borrowers, with outstanding credit up to Rs 25 crore on February 29.

    Nearly 82,816 MSMEs of Assam sanctioned credit of Rs 1,317 crore during pandemic

    Around Rs 3.44 crore have been disbursed for the indigenous industries of the State in sectors like japi, terracotta, mask-making etc.

    Sidbi, Transunion Cibil partner to launch portal to help MSMEs

    The portal- MSMESaksham- aims to guide MSMEs across their credit lifecycle, from availing credit to start and grow their businesses, to managing credit lines to sustain and build structural strength of the business, as well as ensuring timely closures and renewals of credit facilities.

    Amazon India to host 'Handicrafts Mela' to support artisans, weavers

    Previously, Amazon India had also organised a 10-week 'Stand for Handmade' initiative in July this year to aid the revival of the businesses of these artisans and weavers.

    Question of existence: Solvency and not liquidity should be the core of policy response for MSMEs

    The government’s Rs 3 lakh crore injection as liquidity was expected to help MSME’s float through the COVID-19 impact, but the sector faces a quintessential question of solvency, which will determine whether they want to remain in business or not.

    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.

    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.

    Winning the post-pandemic economic battle: Tapping the pent up demand in Tier 2 and Tier 3 cities

    MSMEs are the growth drivers of the Indian economy and to ensure that they continue to lead the country towards economic growth, Prime Minister Narendra Modi led Government has announced strategic measures, including those under the ‘AatmaNirbhar Bharat’ initiative.

    Small companies' NPAs set to go up, job cuts on the cards

    As much as 61% MSMEs are not in a position to service loans from September, the survey conducted by Skoch Consultancy Services in association with the FISME revealed.

    Omidyar Network India launches initiative to fund companies focussed on MSMEs, migrant workers

    SMEs in India are reeling in the economic slump induced by the Covid-19 outbreak and the sudden loss of demand and revenue has severely affected their ability to function, and caused liquidity shortages.

    Gadkari asks Amazon to handhold Indian MSMEs on its platform

    Speaking of access to finance for micro units, Gadkari said that the government will look at formulating a policy to enable microfinance organisations to help the smallest of the MSMEs.

    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.

    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.

    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

    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.

    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".

    Ambition on hold: India’s pursuit of $5 trillion economy by 2025 will need recalibration

    The Covid crisis escalated things dramatically since March with businesses struggling to make all ends meet. As one of the major planks of the mega economic dream, the poor health of MSMEs will mean India’s vision of being a $5 trillion economy will need new tactics and more patience.

    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.

    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.

    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.

    MSMEs may get up to Rs 1 lakh crore salary support

    MSME’s have been at the core of financial package of the Modi government, which in May announced a Rs 3 lakh crore ECLGS under which 100% guarantee coverage will be provided by the National Credit Guarantee Trustee Company for additional funding of up to Rs 3 lakh crore to eligible MSMEs.

    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.

    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.

    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

    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?

    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%.

    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.

    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.

    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.

    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.

    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.

    Number of women bank borrowers treble in six years

    Besides loans for agriculture, these loans are essentially for small businesses, kirana stores, food stall, catering, self employment or even home and vehicle purchases say bankers.

    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

    Razorpay launches collateral free line of credit for SMEs

    Cash Advance uses merchants payment history to approve a credit offer. Once approved, businesses can withdraw additional money whenever they need and repay whenever they want.

    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.

    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.

    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.

    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.

    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.

    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 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

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