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.
Kolkata/IBNS: Efficient & timely insurance services to policy holders are the need of the hour, said Suresh Mathur, Executive Director, Health Insurance, Surveyors, IMF & Reinsurance, Insurance Regulatory & Development Authority of India (IRDAI).
Govt committed to helping MSME sector flourish: Minister of State Pratap Chandra Sarangi
Kolkata/IBNS: Speaking at an ASSOCHAM conference here on Friday, Pratap Chandra Sarangi, Minister of State for Micro, Small and Medium Enterprises, said that the government fully understands the importance and contribution of MSMEs for the nation and is fully committed to support the MSME sector grow and reach its full potential.
ICC Web Store: Bridging the gap between buyers and sellers in the pandemic situation
Kolkata/IBNS: Indian Chamber of Commerce recently announced the launch of a state-of-the-art Web Store to showcase exquisite collections of Indian textile, handloom, apparel, garments, khadi, jute etc. by the MSMEs.
MSME sector strengthens India-Nepal bond amid COVID-19
Kathmandu: Policymakers and authorities feel that micro, small and medium entreprises (MSME) sector has been playing a pivotal role in strengthening trade and commerce relations between India and Nepal, even at this time when the two nations are combating the COVID-19 pandemic.
Flipkart Wholesale launches digital platform for kiranas, local MSMEs
Kolkata/IBNS: Flipkart Wholesale, the digital B2B marketplace of India’s homegrown Flipkart Group, Wednesday launched its operations with an aim to connect local manufacturers with retailers and bring the entire wholesale marketplace at their fingertips using technology.
Airtel Payments Bank launches Suraksha Salary Account for MSME sector
Kolkata/IBNS: As India begins to open up following the COVID-19 lockdown, Airtel Payments Bank announced the launch of ‘Suraksha Salary Account’ - an innovative salary account, according to the bank, for the Micro, Small and Medium Enterprises (MSME).
Bank of India reduces MCLR, MSME, housing and auto loan interest rates
Mumbai: Bank of India has reduced its Benchmark Marginal Cost of Funds Lending Rate (MCLR) by 25 bps across all tenors. The one year MCLR is now at 7.70% p.a.
FM Nirmala Sitharaman announces 3 lakh crores collateral-free loans for MSMEs
New Delhi/IBNS: In a bid by the Modi government to fight back the economic impact of COVID-19 outbreak, Union Finance Minister Nirmala Sitharaman on Wednesday announced several categories of collateral-free loans for Ministry of Micro, Small and Medium Enterprises (MSME)s as a part of the Atmanirbhar Bharat Yojana (Self-reliant India) announced by PM Narendra Modi on Tuesday during his national address.
COVID-19 economic impact: CII bats for an immediate stimulus package of Rs 15 lakh crore
New Delhi/IBNS: Top industry body The Confederation of Indian Industry (CII) on Friday said a stimulus package of Rs 15 lakh crore is needed to tackle the impact of a prolonged lockdown on the country's economy.