GOI Launches 15 Challenges for Startups and MSMEs to Solve for a Grant of INR 50 Lakhs Each

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

Under the Credit Guarantee Scheme, Loans to MSMEs are Diminishing

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

‘CHAMPIONS’ – A new Web portal for MSMEs

CHAMPIONS - A technology platform launched by the Union Ministry of Micro, Small and Medium Enterprises (MSME). Another step is taken by the government of India, to support local businesses and small enterprises. The web portal is a one-stop-shop for MSME ministry that operates as a control room and a management information system.  The name … Continue reading ‘CHAMPIONS’ – A new Web portal for MSMEs

MSMEs to shift towards digital payments for economic recovery

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

Startups may have to contribute towards India’s Sustainability Goals

Businesses are to be made responsible entities. To make them more serious about their contribution to society, the ministry of corporate affairs (MCA) has presented a new system called Business Responsibility and Sustainability Report (BRSR). A move for corporates to report all non-financial disclosures under the same single source.  It is an improvised version of … Continue reading Startups may have to contribute towards India’s Sustainability Goals

Emergency Credit Line Guarantee Scheme(ECLGS) to cover individual entrepreneurs

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

Insolvency resolution: Cheaper, faster and easier process on cards for MSMEs

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