GST refunds of Rs 11,052 crore cleared; 29,230 claims disposed of

The finance ministry had on April 8 said that to provide relief during COVID-19 it has been decided to issue all pending GST and custom refunds which would benefit around 1 lakh business entities, including MSME.

May 25, 2020, 15:39 PM IST

FM Nirmala Sitharaman announces collateral-free automatic loans for MSMEs for 4-year-tenure

Finance Minister Nirmala Sitharaman on Wednesday (May 13) announced several categories of collateral-free automatic loans for businesses, including MSMEs while elaborating on the Atmanirbhar Bharat Yojana announced by Prime Minister Narendra Modi on Tuesday.

May 13, 2020, 17:15 PM IST

Punjab National Bank opens emergency credit line for MSMEs, eases working capital norms

The public sector lender said that it has been contacting more than 1 lakh MSME borrowers through its 'Each One Reach Ten Each Day' initiative to update them about its schemes on a daily basis.

May 07, 2020, 00:59 AM IST

MSMEs face liquidity problem to pay wages for April in lack of business activity during lockdown: FIEO

The Federation of Indian Export Organisations (FIEO) reiterated that the government should immediately announce an incentive package and give permission for the partial resumption of operations in manufacturing units.

Apr 14, 2020, 15:41 PM IST

Income Tax refunds up to Rs 5 lakh to be released for 14 lakh taxpayers amid coronavirus COVID-19 lockdown

The government will also issue pending GST and customs refunds of Rs 18,000 crore to provide relief to business entities.

Apr 08, 2020, 19:48 PM IST

Union Budget 2020-21: Centre may announce major relief for MSME sector

The government is likely to announce a distressed asset fund of Rs 5,000 crore for micro, small and medium enterprises (MSMEs) facing liquidity crunch in the upcoming Budget 2020-21. 

Jan 15, 2020, 11:58 AM IST

Flipkart partners government to empower artisans, self-help groups

The e-commerce company will collaborate with state missions under the DAY-NULM to establish the `Flipkart Samarth programme` in 22 states in India.

Dec 30, 2019, 20:42 PM IST

Commerce Ministry through ECGC raises Insurance cover for banks up to 90% for Working Capital Loans

The cover percentage has been enhanced to 90 percent from the present average of 60 percent for both Principal and Interest.

Sep 17, 2019, 10:41 AM IST

External benchmark for floating rate loans from October 1

The Reserve Bank of India has been long examining the feasibility of mandating the use of external benchmark for determining interest rate on floating rate loans.

Sep 05, 2019, 13:10 PM IST

GDP growth pegged at 6% in Q1: FICCI survey

The growth numbers for the first quarter are expected to be released by Central Statistics Office (CSO) next week. Ficci said boosting agriculture sector, strengthening MSMEs, undertaking factor market reforms are key to steering the economy out of the slowdown.

Aug 26, 2019, 15:12 PM IST

RBI committee recommends revision of loan limit for MSMEs, SHGs

The Committee has also recommended revision of loan limit sanctioned under MUDRA to Rs 20 lakh from Rs 10 lakh, he added.

Jul 26, 2019, 12:46 PM IST

MSMEs generated 5.87 lakh employment in 2017-18

Nitin Gadkari informed the upper house that MSMEs are the largest provider of employment after agriculture.

Jun 24, 2019, 17:05 PM IST

NITI Aayog, ABB facilitate adoption of Artificial Intelligence technologies by MSMEs

NITI Aayog and ABB India organized a workshop aligned with the national objective of ‘AI for All’.

Mar 26, 2019, 15:11 PM IST

Govt to give incentives to online aggregators for felicitating MSMEs biz

The government wants to encourage the online sale of MSME products in small cities.

Aug 13, 2018, 16:05 PM IST

GST rate cut on 100 items: Here is the full list

Finance Minister Piyush Goyal has said the focus on consumers and MSMEs.

Jul 21, 2018, 23:11 PM IST

NITI Aayog announces the launch of 'Atal New India Challenges' programme

The project envisions grants of up to Rs 1 crore for selected innovations, products in 17 focus areas.

Apr 26, 2018, 23:17 PM IST

Modi govt sets up panel on financial technology to make regulations more flexible

The Committee will also focus on how Fintech can be leveraged to enhance financial inclusion of MSMEs.

Mar 05, 2018, 15:42 PM IST

MSMEs to be next growth driver for bank as corporate credit to shrink further: Report

This is because large ticket credit is moving to wholesale markets even as in the short-term banks are challenged by the lingering bad debts in corporate segments.

Nov 12, 2017, 23:14 PM IST

FY18 challenging for Indian banks, NPAs to rise: Icra

Terming FY18 as a "challenging" year for Indian banking, domestic rating agency Icra on Thursday said newer segments like MSMEs and farmers are also reporting stress, and NPAs for listed banks will shoot up to 10.2 percent by FY18-end.

Aug 31, 2017, 18:20 PM IST

LS passes bill to raise Nabard's capital to Rs 30000cr

Minister of State for Finance Santosh Kumar Gangwar said that the law is one of the "major step" towards doubling farmers' income by 2022.

Aug 03, 2017, 21:50 PM IST