A unique initiative, MSME Prerana is an online business mentoring programme for small business owners. A programme by the Indian Bank, a public sector bank, was launched by the Union Minister of Finance & Corporate Affairs, Nirmala Sitharaman, at the bank’s headquarters in Chennai. An integrated initiative with Poornatha & Co, MSME Prerana aims to … Continue reading ‘MSME Prerana’ – Indian Bank’s mentoring programme for MSMEs.
Amidst the COVID-19 crisis, Facebook has been focusing on providing business tools for the survival of small businesses. According to the data released by OECD and the World Bank, in India, more than one-third of the small and medium-sized businesses on Facebook are facing cash-flow problems. Facebook has a wide reach in India, almost every … Continue reading Facebook’s $4.3 million grant to support small businesses in India
In collaboration with the Indian Space Research Organisation (ISRO) & four other ministries, the government of India launched ARISE - Atal New India Challenges programme in order to support the small businesses and MSMEs. The step is in alignment with the vision of making India Aatmanirbhar and less dependent on the imports and products of … Continue reading GOI Launches 15 Challenges for Startups and MSMEs to Solve for a Grant of INR 50 Lakhs Each
The government’s rescue scheme for Micro, Small and Medium Enterprises (MSME) amidst the COVID-19 crisis is not performing up to the expectations. Small businesses contribute around 25% to the Indian GDP, therefore working on their health is the government’s top priority. To cope with the aftermath effects of the pan-India lockdown on the MSMEs, the … Continue reading Under the Credit Guarantee Scheme, Loans to MSMEs are Diminishing
The COVID-19 pandemic brought along financial challenges for many economies and institutions. A major force behind driving the Indian economy, Micro, Small & Medium Enterprises (MSMEs) also faced a setback. During the lockdown, with working from home and minimized contact, the need for digital payments grew in India. Digital payments were once an option for … Continue reading MSMEs to shift towards digital payments for economic recovery
The government has decided to extend the ECLGS scheme to include individual entrepreneurs. This is a move to cover the lag in the economic growth caused due to Pan-India lockdown and the COVID pandemic. Individual entrepreneurs head more than 6.3 crore Micro, Small and Medium Enterprises (MSMEs), and larger companies across India. Under this scheme, … Continue reading Emergency Credit Line Guarantee Scheme(ECLGS) to cover individual entrepreneurs
Medium, Small and Micro Enterprises (MSMEs) are the strength of the Indian economy. The sector alone contributes to 30% of the GDP and 40% of the total exports. In alignment to the Make in India vision, the government had taken several steps to support MSMEs. Starting with allocating USD Dollars 1 billion to the MSME … Continue reading MSMEs: Digitise and modernise to thrive
Insolvency and Bankruptcy Board of India (IBBI) has proposed a new framework for micro, small and medium enterprise (MSME) insolvency resolution process, reducing the time limit to less than 180 days. The plan aims to focus on making the procedure more cost-effective, quicker and easier allowing the debtors to continue running the business while allowing … Continue reading Insolvency resolution: Cheaper, faster and easier process on cards for MSMEs
2000+. Yes, that is the latest number of deaths estimated world wide due to Wuhan Corona Virus. The biggest virus outbreak post SARS in 2003 (which incidentally also originated from China) has not only caused severe health related concerns but has also jolted businesses (or at-least the way they operate) in more than one way. … Continue reading Corona Virus: 5 Stories To Understand The Impact On Business.