Get loan upto Rs 10 lakh for your business, here is how to benefit from Modi govt’s scheme

New Delhi: The ongoing COVID-19 crisis and the consequent lockdown has led to severe disruption of business for micro and small enterprises. But thanks to Modi Government’s MUDRA loan initative, now you can get loans upto Rs 10 lakh for your business. What is MUDRA loan? Under Pradhan Mantri Mudra Yojana (PMMY), Mudra loan is … Read more Get loan upto Rs 10 lakh for your business, here is how to benefit from Modi govt’s scheme

Good news for MSMEs: Emergency Credit Line Guarantee Scheme extended by one month

New Delhi: In a bid to increase in demand during the ongoing festive season the government has extended the Emergency Credit Line Guarantee Scheme (ECLGS) by one month or till such time that an amount of Rs 3 lakh crore is sanctioned under the Scheme (whichever is earlier). “The Union Government has extended the Emergency … Read more Good news for MSMEs: Emergency Credit Line Guarantee Scheme extended by one month

November 5 cutoff for banks to credit compound interest collected | India News – Times of India

NEW DELHI: The Centre on Monday informed the Supreme Court that by November 5 lending institutions must credit into the accounts of borrowers who had availed loans up to Rs 2 crore the compound interest collected during the six-month loan repayment moratorium period and then claim reimbursement from the Union government. “The central government has … Read more November 5 cutoff for banks to credit compound interest collected | India News – Times of India

‘Centre’s, RBI’s stand in SC on loans is a big blow to MSMEs’

The Consortium of Indian Associations termed as a ‘big blow’ to micro, small and medium-sized enterprises (MSMEs) the RBI’s affidavit in the Supreme Court pleading for vacating its stay order on the classification of NPA and the Centre ruling out further relief measures under the loan moratorium scheme. Consortium convener K.E. Raghunathan appealed to the … Read more ‘Centre’s, RBI’s stand in SC on loans is a big blow to MSMEs’

Banks sanction Rs 1.87 lakh crore to 50.7 lakh MSMEs under credit guarantee scheme – Times of India

NEW DELHI: The finance ministry on Thursday said banks have sanctioned loans of about Rs 1,87,579 crore to 50.7 lakh business units under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector impacted by slowdown caused by the coronavirus pandemic. Of this, about 27 lakh MSME units received cumulative disbursement … Read more Banks sanction Rs 1.87 lakh crore to 50.7 lakh MSMEs under credit guarantee scheme – Times of India

‘Credit demand from priority sectors drops’

Despite efforts by the government to boost credit supply by offering many a scheme to MSMEs and other priority sectors, the same has plunged to a low 1.9% in the June quarter from 10.2% a year ago, says a report. To help small business tide over the impact of the pandemic, the government has offered … Read more ‘Credit demand from priority sectors drops’

Flipkart Wholesale announces 1st ‘Big Festival Month’ fashion sale

Bengaluru: Flipkart Wholesale, the digital B2B marketplace of Flipkart Group for kiranas and MSMEs, on Monday announced ‘Big Festival Month’ from September 29 to October 31 where over 95 per cent products sourced locally will be made available on the platform. The sale will feature products in fashion categories across more than 50 brands, more … Read more Flipkart Wholesale announces 1st ‘Big Festival Month’ fashion sale

‘MSMEs, start-ups not for non-personal data policy’

A majority of MSMEs and start-ups are not comfortable with the draft non-personal data policy in the current form, as per a survey by LocalCircles. On responses of the public, LocalCircles said, 27% said they would never want to share their anonymised data, while 35% said they would be willing to do so only in … Read more ‘MSMEs, start-ups not for non-personal data policy’

Govt. open to more tweaks in ₹3 lakh cr credit guarantee scheme: FM

Finance Minister Nirmala Sitharaman on Tuesday said the government is open to further tweaking the ₹3 lakh crore credit guarantee scheme for providing collateral-free loans to small businesses. According to industry association CII, with which the minister had a closed-door meeting, she also said that domestic revenue generation is a concern as sectors like tourism, … Read more Govt. open to more tweaks in ₹3 lakh cr credit guarantee scheme: FM