January 31, 2023 00:07 (IST)
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Hockey Men's World Cup 2023: India beat Japan 8-0 in classification match | Amid row, Kerala Congress screens controversial BBC documentary on PM Modi in Thiruvananthapuram | Republic Day Parade to showcase India’s indigenous military prowess, cultural diversity | Mulayam Singh Yadav, Zakir Hussain conferred Padma Vibhushan award | Dilip Mahalanabis, who pioneered ORS use, to be awarded Padma Vibhushan

MSMEs are the growth engine of India, contribute 30 pc of India's GDP: Union MSME Minister Narayan Rane

Mumbai:  The MSME sector has a catalyzing role in the growth of India with a contribution of nearly 1/3rd of the country's GDP and has remarkable potential to grow further, Union Minister for MSME Narayan Rane said at an ASSOCHAM event in Mumbai on Friday.

96 lakh MSMEs registered on Udyam portal in two years: MSME Secretary

New Delhi/UNI:  Within two years of the adoption of the new definition for MSMEs, and the subsequent launch of the Udyam portal, almost 96 lakh MSMEs, with the employment of 7.34 crore, have registered, Secretary for the Ministry of Micro, Small & Medium Enterprises (MSME) B B Swain said Thursday.

Kotak launches real-time working capital finance for MSMEs

Kolkata: As part of its digital-first strategy, Kotak Mahindra Bank Thursday announced the launch of a real-time loans offering for its clients classified as micro, small and medium enterprises (MSMEs) that are registered on the Government’s e-Marketplace (GeM) Sahay - a platform that connects sellers with lenders.

Flipkart launches a new brand film 'MSMEs - Taking India Forward' as a tribute to the sellers on the World MSME Day

Flipkart, India’s homegrown e-commerce marketplace, launched a film “MSMEs - Taking India Forward” on the occasion of World MSME Day celebrated on June 27th worldwide to celebrate and showcase the journey of all the Micro, Small and Medium Enterprises who are integral growth drivers of the country’s economy.

Bureau of Indian Standards grants 630 licenses to MSME toy manufacturers

New Delhi: the Bureau of Indian Standards (BIS) has granted 630 licenses to MSME toy manufacturers as of 28.03.2022, Union Minister of State for Consumer Affairs Ashwini Kumar Choubey told Lok Sabha on Tuesday in a written reply.

Cabinet approves USD 808 million for 'raising and accelerating MSME performance'

New Delhi: The Union Cabinet chaired by the Prime Minister Narendra Modi on Wednesday approved a USD 808 million or Rs 6,062.45 crore, World Bank assisted programme on “Raising and Accelerating MSME Performance” (RAMP).

MSME Development Forum's new team launched in West Bengal

Kolkata/IBNS: The grand launch of a new team of MSME (Micro, Small & Medium Enterprises) Development Forum, West Bengal and felicitation of Dr. Mamta Binani as the president of MSME Development Forum took place last week.

Budget 2022-23: Stainless steel MSMEs want reimposition of CVD on China, Indonesia

New Delhi/IBNS: The workers in the stainless steel industry's medium, small, and micro enterprises (MSME) await the imposition of countervailing tax (CVD) on China and Indonesia, as it would fuel the Indian businessmen to proliferate manufacturing.

Piyush Goyal sets target of 75 unicorns in run-up to 75th year of Independence

New Delhi/UNI: Minister of Commerce and Industry Piyush Goyal on Friday called upon the Information Technology enabled Service (ITES ) industry to aim for raising 75 unicorns in the 75 weeks to the 75th anniversary of India’s Independence next year.

MSME units are together capable of constituting a complete supply chain: MSME Secretary

New Delhi/IBNS: There is tremendous potential for Indian engineering MSMEs to be integrated into the Global Value Chain due to their manufacturing cost advantage, said B. B. Swain, Secretary, Ministry of MSME.

Low-rate regime is the need of the hour to boost recovery: EEPC India Chairman

Kolkata/IBNS: The low-rate regime is the need of the hour to boost recovery and the Reserve Bank of India has done a good job by keeping the repo rates unchanged at four percent besides keeping the stance accommodative, said the Chairman of EEPC (Engineering Export Promotion Council) Mahesh Desai. 

HDFC Bank says it will double its rural reach to 2 lakh villages in 2 years

Mumbai: HDFC Bank has said it aims to expand its reach to two lakh villages in the next 18-24 months.

'Three-Wheeler Market’ to grow at 6.78% CAGR in value terms by 2026: TechSci

Kolkata/IBNS: TechSci, a research-based global management consulting firm, in its report on “Global Three-Wheeler Market” estimated the three-wheeler industry to boom to a total of US 11.68 billion by 2026.

Only PAN and Aadhaar essential for MSME registration: Nitin Gadkari

New Delhi/UNI: Union Minister for Micro, Small & Medium Enterprises (MSMEs), Nitin Gadkari on Tuesday said that now only PAN card and the Aadhaar card will be required for the registration of MSMEs, while he addressed a webinar of SMEStreet GameChangers Forum.

RBI imposes a monetary penalty of Rs 1 crore on City Union Bank Limited

Mumbai/UNI: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rupees One Crore only on City Union Bank Limited for contravention of/non-compliance with certain provisions of the directions contained in the Reserve Bank of India (Lending to Micro, Small & Medium Enterprises (MSME) Sector) Directions, 2017 and the circulars on educational loan scheme and credit flow to agriculture – agricultural loans – waiver of margin/security requirements.