Sunday, February 23, 2020, 2:50 PM
State-run banks are not out of the woods yet, as new-stress has emerged in the agriculture, MSME, commercial vehicle, telecom and real estate sectors in the fiscal third quarter. Macquarie has increased its credit cost assumptions on an average by 50 basis points, or half a percentage point, for the next two fiscal years to 180 basis-points to reflect the new forms of stress.
Tuesday, January 21, 2020, 8:51 PM
The government is looking to provide credit-guarantee to mid-sized-companies to access more and cheaper-funds, enlarging the scope of the existing-scheme, which is restricted to micro and small-enterprises. The Credit Guarantee Fund Trust for Micro and Small-Enterprises, run by the government and financial-institution Sidbi, has floated a consultation-paper to banks, where it has estimated that it will get business of around Rs.4,000-crore during the first-year.
Monday, January 13, 2020, 11:51 AM
India is putting in place a legal platform to help small and medium enterprises, threatened by cheap imports in their fight against trade distorting practices. The commerce department is looking to constitute a panel of lawyers to provide legal guidance to micro, small and medium enterprises (MSME) in the area of trade remedies such as anti dumping duty, countervailing duty and safeguard measures.
Tuesday, October 22, 2019, 4:36 PM
The government will soon make changes to the definition of a micro, small and medium enterprise, Union Minister Nitin Gadkari said on Tuesday and hoped to generate five crore jobs in the MSME sector in five years. Finance Minister Nirmala Sitharaman had in August said the government would consider amending the MSME Act to move towards a single definition.
Sunday, October 13, 2019, 8:32 PM
Continuing efforts to increase credit disbursement, Finance-Minister Nirmala Sitharaman will meet the heads of PSBs on Monday to take stock of recent steps taken by the government, including the first phase of the 'outreach programme' across over 200 districts during the festive-season, a senior government official told Mint. "The progress related to announcements made last month could be discussed," the official cited above added.
Tuesday, October 1, 2019, 11:58 AM
Union Bank of India and Bank of Maharashtra on Tuesday introduced repo rate linked floating rate loans for the retail and micro & small enterprise (MSME) segments. Union Bank, in a statement, said it has fixed the External Benchmark Lending Rate (EBLR), which is linked to the repo rate, at 8.25 percent as on October 1, 2019.
Monday, September 23, 2019, 11:07 AM
The SBI said on Monday it will use the repo rate as the external benchmark for its floating rate loans for MSME, housing and retail loans. According to a press release issued by the bank, this will come into effect from October 1. The decision has come after the RBI mandated all banks to link their floating rate loans to an external benchmark.
Sunday, September 15, 2019, 12:15 PM
Stressing that Government is focused on exports-promotion and is aware of the hiccups being faced by the exporting fraternity, Union-Finance-Minister Nirmala Sitharaman announced a slew of measures to revive business-sentiments among country's exporting fraternity. "The Government is to extend the scheme of reimbursement of taxes and duties for export-promotion and it will also offer higher-insurance cover to banks lending working-capital for exports," said Sitharaman.
Saturday, August 24, 2019, 9:24 AM
In a major relief to the MSME sector facing liquidity shortage, the government announced that all their pending GST refunds will be paid within 30 days. Also, in future, all GST refunds of micro, small and medium enterprises (MSMEs) will be paid within 60 days from the date of application, Finance Minister Nirmala Sitharaman said while announcing a slew of measures to boost growth.
Friday, August 23, 2019, 3:44 PM
Union minister Nitin Gadkari on Friday said the government is not planning to stop petrol and diesel vehicles. He said the government is promoting e-vehicles and people will slowly accept it. Gadkari's statement came after the NITI Ayog had announced banning two-wheelers under 150cc by 2025 and three-wheelers vehicles by 2023.
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