Removal of a power subsidy for looms, rising costs and falling demand are talking points among weavers of Varanasi, an electorally important group in eastern UP, especially for the Samajwadi Party, ahead of assembly elections. The Ansari Muslim community involved in the craft fears suspension of guaranteed power and a flat electricity rate for running … Read more
The Reserve Bank of India on Friday announced the opening of third cohort under the Regulatory Sandbox (RS) with MSME Lending as its theme. The window for submission of applications for the Cohort shall be open from 01 October 2021 to 14 November 2021. “The MSME segment has emerged as the growth engine of Indian … Read more
Asset reconstruction companies (ARCs) are expected to circle stressed accounts in the micro, small and medium enterprises (MSME) and retail segments in the near-to-medium term, given the twin challenges of inadequate funding access and intensifying competition once the proposed bad bank materialises, rating agency said on Monday. ARCs have been facing headwinds in the past … Read more
The government on Wednesday said that sellers who do not declare the amount of local content while uploading product and creating catalogue on the Government e-Marketplace (GeM) will lose out on business and not be able to participate in bids in which buyer has chosen to procure only Make in India (MII) compliant products. The … Read more
The government has simplified the registration process for micro, small and medium enterprises and they will now only need to furnish PAN and Aadhaar to register, an official statement said on Tuesday. Announcing the measure, MSME minister Nitin Gadkari said that after getting registered, the MSME unit will be getting priority and finance. He said … Read more
Engineering exporters in the MSME segment have sought Prime Minister Narendra Modi‘s intervention on rising steel prices, stating that the industry needs the alloy and other inputs at affordable rates so that export competitiveness of value-added products is maintained in the global markets. In a letter to the prime minister, Ludhiana Hand Tools Association President … Read more
Businesses like hotels, civil aviation and tour operators, which are the hardest hit by the second wave of COVID-19, will get help through the expanded Emergency Credit Line Guarantee Scheme (ECLGS), a report said on Wednesday. It will also support build-up of healthcare infrastructure, mainly oxygen availability, in tier-2 and beyond cities and the hinterland, … Read more
Industry chamber Assocham on Wednesday recommended the government to extend relief measures such as regulatory easing, wage support, and interest subsidy for the MSMEs which are reeling under the severe impact of COVID 19. As the states are in the process of easing lockdowns, the trade and industry would need all-around support to pick up … Read more
The Insolvency and Bankruptcy Board of India (IBBI) is setting up two online platforms for selling distressed assets under Insolvency and Bankruptcy Code, opening up markets for soured debt involving resolution plans, interim finance and liquidation assets. The move will likely unlock big opportunities amid lockdown restrictions. This will likely make life easy for both … Read more
The government on Saturday said it has approved Rs 726 crore highway projects in Madhya Pradesh. These projects are for building 291 km of highways in the state. “Ministry of Road Transport and Highways has sanctioned road development projects of 291 km worth 726 Cr for the state of Madhya Pradesh,” Road Transport, Highways and … Read more