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  Buyers to face heavy penalty for delaying payment to MSMEs: MSEFC chairperson

  Business | May 16, 2020 19:19 IST

  The Micro and Small Enterprises Facilitation Council on Saturday warned that the delay in payments for supplies received from the Micro Small and Medium Enterprises would invite heavy penalty against defaulting buyers.  

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  Nirmala Sitharaman announces revised definition of MSME. Here is what it means

  Business | May 13, 2020 18:19 IST

  Finance Minister Nirmala Sitharaman on Wednesday announced an economic relief package amid nationwide coronavirus lockdown in which her prime focus was on to save jobs in the MSME sector and help it to get back on track.

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  SBI to disburse Rs 700 cr to Mumbai circle MSMEs by June-end

  Business | April 23, 2020 22:50 IST

  State Bank of India (SBI), the country's largest lender, has set a target of disbursing Rs 700 crore to MSMEs in the Mumbai circle by the end of June, to help them tide over liquidity crisis due to the COVID-19 lockdown. 

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  Economic package focussing on SMEs may be announced soon

  Business | April 14, 2020 22:06 IST

  The next set of stimulus measures from the government will have a clear focus on concerns of SME segments that have been hit hard due to Covid-19 outbreak and resultant nationwide lockdown.

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  Gadkari asks India Inc to clear outstanding payments to MSMEs

  Business | April 14, 2020 16:03 IST

  Union Minister Nitin Gadkari on Tuesday asked India Inc to clear huge outstanding payments to micro, small and medium enterprises at the earliest in order to ease the distress in the sector and inject liquidity into market. 

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  RBI announces incentive for lending to MSME, home, auto sectors

  Business | February 06, 2020 15:04 IST

  The Reserve Bank of India has tweaked maintenance of cash reserve ratio (CRR) norms by providing relaxation in calculation of total deposits. The move will encourage lending towards these targeted sectors having multiplier effect by banks as they will get exemption in CRR over incremental lending.

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  Sarangi calls on Arunachal Governor

  India | November 06, 2019 10:17 IST

  Union Minister of State for Micro, Small and Medium Enterprises (MSME) and Animal Husbandry, Dairying and Fisheries, Pratap Chandra Sarangi on Tuesday called on Arunachal Pradesh Governor Brig. B.D. Mishra (Retd.) at Raj Bhavan. During the meeting, they discussed self-employment and financial empowerment of youth through MSME and Fisheries and dairy development in Arunachal Pradesh. Mishra emphasised that special efforts must be made in capacity building of unemployed and underemployed youth of the State through MSME programmes. He said that through MSME schemes, the youth will have opportunities to become entrepreneurs and in turn, can provide jobs to others as well.

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  Govt to soon change definition of MSMEs: Nitin Gadkari

  Business | October 22, 2019 16:26 IST

  The new definition is likely to be effected through an amendment to the MSME Act and may lead to further improvement in India's ease of doing business scenario.

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  Different Schemes that Govt has Launched to Support Indian MSMEs

  Brand Content | November 01, 2019 13:59 IST

  The Small and Medium scale enterprise sector is one of the fastest growing segments of the Indian manufacturing industry. Currently, it contributes to almost 40% of the nation’s GDP and employs almost 109 million people across the country.

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  Gadkari assures MSMEs of govt help

  Business | September 30, 2019 17:42 IST

  Gadkari, who is road transport & highways and MSME minister, was speaking during the 114th Annual Session of PHD Chamber of Commerce and Industry here.

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  GST refund: Tax body asks officers to speed up things

  Business | September 02, 2019 16:39 IST

  "We must endeavour to make this refund drive a grand success," CBIC Chairman Pranab K. Das wrote to tax officers across the country.

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  Easy access to finance, incentives to help MSMEs push exports: Connect2India

  India | July 06, 2019 19:25 IST

  The government should take steps to improve access to credit and extend incentives to encourage micro, small and medium enterprises (MSMEs) push exports, world trade information provider Connect2India said on Saturday.

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  Govt seriously working for welfare of poor, farmers: Gadkari

  India | June 26, 2019 20:25 IST

  Inaugurating the cleaning and deepening work of a pond in Qutubgarh village for rainwater harvesting, Gadkari also exhorted rural youth to take up new and modern modes of employment for improving their income.

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  RBI panel suggests Rs 5,000 crore distressed asset fund for MSMEs

  Business | June 25, 2019 18:18 IST

  ​An RBI panel, led by former Sebi Chairman U.K. Sinha, has recommended the creation of a distressed asset fund with a corpus of Rs 5,000 crore for small businesses.  

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  Modi government to bring in pension scheme for small shopkeepers, increase credit coverage for MSME sector

  Business | June 20, 2019 12:56 IST

  Modi government will bring in a pension scheme for small shopkeepers while it has also increased credit guarantee coverage for Micro, Small & Medium Enterprises (MSMEs), President Ram Nath Kovind announced this in Parliament today. President was addressing a joint session of newly elected parliamentarians today.

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  Work on Delhi-Mumbai Expressway in full swing as Nitin Gadkari hits the highway running

  India | June 05, 2019 16:47 IST

  Delhi-Mumbai Expressway, work of which is in full swing, will reduce the travel time between India capital to commercial capital from existing  24 hours to 13 hours. 

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  RBI allows restructure of defaulting MSME loans up to Rs 25 cr

  Business | January 02, 2019 7:05 IST

  The RBI in a statement said the issue of restructuring of MSME accounts was discussed in the meeting of the RBI board on November 19 when Patel was the Governor.

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  Over 1.12 lakh MSME loan applications approved under '59 minutes' scheme

  India | December 28, 2018 20:09 IST

  Public sector banks have approved more than 1.12 lakh loan applications of MSMEs totalling Rs 37,412 crore under the '59 minutes' loan scheme launched by the government in November.

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  In event for MSME sector, PM Modi announces 12 Diwali 'gifts' including 59-minute loan portal

  India | November 03, 2018 0:03 IST

  Speaking at MSME Support and Outreach event in New Delhi, PM Modi described the 12 new measures as 'historic' that will make Diwali brighter for the sector and its millions of entrepreneurs and employees.

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  Note-ban, GST pulled down credit to MSMEs, dented exports: RBI study

  Business | August 18, 2018 6:39 IST

  The credit disbursal to the MSME sector has, however recovered a tad since the lows of 2017 to reach the mid-2015 level, notes an RBI report called the Mint Street Memo.