Bank loans sanctioned to MSMEs increased in FY 22 in the wake of the covid-19 pandemic and continued to increase till FY 24. The decline is significant since MSMEs contribute around 29% to India’s GDP. Bank loans sanctioned to India’s micro, small and medium enterprises (MSMEs) under the Prime Minister’s Employment Generation Program (PMEGP) dipped […]
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The UP Govt. has already announced electronics manufacturing clusters along Yamuna Expressway and at Greater Noida. After announcing electronics manufacturing clusters (EMC) along Yamuna Expressway and at Greater Noida, the Yogi Government is now gearing up to develop a third EMC in eastern Uttar Pradesh. The Government will be making the policy changes soon in […]
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TVS Capital, Lok Capital and others back newly licensed NBFC to expand credit access for underserved MSMEs in semi-urban and rural India, valuing firm at ₹900 crores. Saarathi Finance, a newly licensed non-banking financial company (NBFC) focused on India’s micro, small and medium enterprises (MSMEs), has raised ₹475 crores in its inaugural funding round. The […]
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Department of Financial Services (DFS), Ministry of Finance organized a colloquium of Chairpersons of Debt Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery Tribunals (DRTs). Various key initiatives taken by the Department highlighted at the colloquium, such as adoption of revised DRT Regulations, mandatory e-filing, among others. The Department of Financial Services (DFS), […]
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India’s MSME ecosystem has unique features that call for a customized approach. There is a growing consensus that India must develop its own basic AI model to address local challenges and opportunities. By Ateesh Singh: Adoption of digital tools and processes has created a significant impact on the MSME sector, transforming how businesses operate and thrive. This […]
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Finance Minister, Nirmala Sitharaman praised India’s fintech sector for enhancing digital public infrastructure and enabling inclusive financial services for merchants and MSMEs. During a visit to Pine Labs in Noida, she reviewed fintech innovations and interacted with beneficiaries of digital initiatives. She highlighted how DPI, including direct benefit transfers has transformed service delivery and empowered […]
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India, in fact, was a major exporter to West Asia, where two large empires – the Safavid and the Ottoman – provided a lucrative marketing area. The entrepreneurship that India requires must have two key characteristics. First, it must be willing to be innovative in the sense that it takes on new products and processes […]
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Contributed by Shalinee Mimani, CRO of Godrej Capital While credit risk has been systematically identified, analysed, and managed throughout history, the focus on predicting customer behaviour, particularly that of NBFC customers, has emerged only in recent years. Modern techniques now utilise advanced technologies and extensive datasets. Artificial intelligence (AI) and Machine Learning algorithms analyse both […]
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Among other things, the policy lays down that new residential buildings must provide EV charging facilities and also offers incentives such as toll waiver for these eco-friendly vehicles. The new Electric Vehicle (EV) policy of the Maharashtra Government seeks to achieve 30% EV penetration in the State by 2030, officials said on Saturday. The Transport […]
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The number of micro, small and medium enterprises (MSMEs) with Goods and Services Tax (GST) registration is set to rise after the Central Board of Indirect Taxes and Customs (CBIC) asked its officials to relax scrutiny for such businesses, according to two people aware of the development. MSMEs contribute around 30% of India’s GDP. CBIC’s move […]
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