Earlier on July 2, the Ministry of MSME had decided to include retail and wholesale trade under MSMEs for the limited purpose of priority sector lending.
Prime Minister Narendra Modi on Saturday described as "landmark" the decision to include retail and wholesale trade as MSMEs.
Minister of MSME Nitin Gadkari informed that the government will now accord MSME status to retailers and wholesale traders.
The World Bank's Board of Executive Directors has approved a USD 500 million program to support India's nationwide initiative to revitalise the MSME sector
Digitisation has become an inevitable necessity for MSMEs to fulfil the GST compliance requirements.
MSMEs are considered to be engines of economic growth that promote equitable development. Yet, several of these enterprises are struggling to make ends meet on account of the outbreak of the global pandemic and facing a lack of liquidity. This has made it necessary to restructure the ways by which micro, small and medium-sized companies can more easily rebuild and relaunch their businesses. Digital transformation can play a defining role here.
According to the ordinance, it is considered expedient to provide an efficient alternative insolvency resolution process for MSMEs to ensure quicker, cost-effective and value maximising outcomes for all stakeholders, in a manner that is least disruptive to the continuity of their businesses and which preserves jobs.
By offering a bundled connectivity plan at 1/10th the existing price (Rs 15-20K/month) in the market, Jio is looking to expand the addressable market in the MSME segment.
Under the partnership, Vayana Network will provide its unique SCF solutions to Bank of Maharashtra supported by Vayana’s technology and service expertise. The SCF solutions will include vendor and dealer financing programs across bank’s network of 1,870+ branches across the country
The MSME sector is hoping to get rid of challenges like lack of access to capital, infrastructure, skilled labor, and power supply issues.
Union Road Transport and Highways and MSME Minister Nitin Gadkari said on Tuesday that the government is trying to create five crore jobs in the next five years. He said that the turnover of rural industries is Rs 80,000 crore, which is targeted to be Rs 5 lakh crore in the next five years. For this, work is going on in a planned way in agriculture and rural areas.
The company expanded collateral-free loans of up to Rs 500,000 at a low-interest rate and unique daily EMI product customised for micro-merchants.
Social media is abuzz with rumours and users must take certain things with a pinch of salt and scrutinise the piece of information coming their way. A letter purportedly issued by the Ministry of Micro, Small and Medium Enterprises (MSMEs) is doing the rounds on social media. The "approval letter" talks of granting loan and thereafter charging a processing fee. But how true is it? Does the ministry even deal with individual beneficiaries?
Union minister Nitin Gadkari on Wednesday called for increased investment by international institutions and bodies in the Indian Highways and MSME sectors, the MSME Ministry said.
As of July 23, 2020, the total amount sanctioned under the 100 per cent Emergency Credit Line Guarantee Scheme by public sector banks and private banks stands at Rs 1,30,491.79 crore, of which Rs 82,065.01 crore has already been disbursed.
State Bank of India is working on setting up an e-commerce portal for marketing of products manufactured by micro, small and medium enterprises (MSMEs) in the country, its chairman Rajnish Kumar said on Saturday.
Union Minister Nitin Gadkari on Wednesday launched the Credit Guarantee Scheme for Sub-ordinate Debt to provide Rs 20,000 crore of guarantee cover to two lakh micro, small and medium enterprises.
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 in
Airtel Payments Bank on Monday launched 'Suraksha Salary Account', an innovative salary account services for the Micro, Small and Medium Enterprises (MSME).
Profits derived from the exports of products by micro, small and medium enterprises (MSME) will be excluded from the overall turnover of a company, said Union Minister incharge of MSME sector Nitin Gadkari
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