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  RBI notifies inclusion of retail, wholesale trade under MSME category

  Business | July 08, 2021 8:59 IST

  Earlier on July 2, the Ministry of MSME had decided to include retail and wholesale trade under MSMEs for the limited purpose of priority sector lending.

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  World Bank approves USD 500mn program to help boost India's MSME sector

  World | June 07, 2021 15:12 IST

  The World Bank's Board of Executive Directors has approved a USD 500 million program to support India's nationwide initiative to revitalise the MSME sector

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  Going digital can help MSMEs to reduce burden of GST compliance

  India | April 28, 2021 17:33 IST

  Digitisation has become an inevitable necessity for MSMEs to fulfil the GST compliance requirements.

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  Why digital accounting is important for MSMEs post-Covid era

  Business | April 21, 2021 21:19 IST

  MSMEs are considered to be engines of economic growth that promote equitable development. Yet, several of these enterprises are struggling to make ends meet on account of the outbreak of the global pandemic and facing a lack of liquidity. This has made it necessary to restructure the ways by which micro, small and medium-sized companies can more easily rebuild and relaunch their businesses. Digital transformation can play a defining role here.

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  Govt amends insolvency law; introduces pre-packaged resolution process for MSMEs

  Business | April 05, 2021 13:00 IST

  According to the ordinance, it is considered expedient to provide an efficient alternative insolvency resolution process for MSMEs to ensure quicker, cost-effective and value maximising outcomes for all stakeholders, in a manner that is least disruptive to the continuity of their businesses and which preserves jobs.

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  Bank of Maharashtra partners with Vayana Network to offer Channel Financing service for MSMEs

  Business | February 18, 2021 14:45 IST

  Under the partnership, Vayana Network will provide its unique SCF solutions to Bank of Maharashtra supported by Vayana’s technology and service expertise. The SCF solutions will include vendor and dealer financing programs across bank’s network of 1,870+ branches across the country

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  Govt trying to create 5 crore jobs in next 5 years, says Nitin Gadkari

  Business | December 15, 2020 17:30 IST

  Union Road Transport and Highways and MSME Minister Nitin Gadkari said on Tuesday that the government is trying to create five crore jobs in the next five years. He said that the turnover of rural industries is Rs 80,000 crore, which is targeted to be Rs 5 lakh crore in the next five years. For this, work is going on in a planned way in agriculture and rural areas.

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  Fact Check: Purported MSME letter granting loan, charging processing fee is FAKE

  Fact Check | November 05, 2020 13:49 IST

  Social media is abuzz with rumours and users must take certain things with a pinch of salt and scrutinise the piece of information coming their way. A letter purportedly issued by the Ministry of Micro, Small and Medium Enterprises (MSMEs) is doing the rounds on social media. The "approval letter" talks of granting loan and thereafter charging a processing fee. But how true is it? Does the ministry even deal with individual beneficiaries?  

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  SBI working on setting up e-commerce portal for MSMEs: Rajnish Kumar 

  Business | June 27, 2020 20:14 IST

  State Bank of India is working on setting up an e-commerce portal for marketing of products manufactured by micro, small and medium enterprises (MSMEs) in the country, its chairman Rajnish Kumar said on Saturday.

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  Gadkari launches scheme to provide Rs 20,000 cr guarantee cover to MSMEs

  Business | June 24, 2020 16:17 IST

  Union Minister Nitin Gadkari on Wednesday launched the Credit Guarantee Scheme for Sub-ordinate Debt to provide Rs 20,000 crore of guarantee cover to two lakh micro, small and medium enterprises.

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  Airtel Payments Bank launches Suraksha Salary Account for MSMEs

  Business | June 15, 2020 17:24 IST

  Airtel Payments Bank on Monday launched 'Suraksha Salary Account', an innovative salary account services for the Micro, Small and Medium Enterprises (MSME). 

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  Atmanirbhar Bharat: Profits from exports by MSMEs to be excluded from overall turnover

  Business | June 01, 2020 23:09 IST

  Profits derived from the exports of products by micro, small and medium enterprises (MSME) will be excluded from the overall turnover of a company, said Union Minister incharge of MSME sector Nitin Gadkari

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  Buyers to face heavy penalty for delaying payment to MSMEs: MSEFC chairperson

  Business | May 16, 2020 19:19 IST

  The Micro and Small Enterprises Facilitation Council on Saturday warned that the delay in payments for supplies received from the Micro Small and Medium Enterprises would invite heavy penalty against defaulting buyers.  

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  Nirmala Sitharaman announces revised definition of MSME. Here is what it means

  Business | May 13, 2020 18:19 IST

  Finance Minister Nirmala Sitharaman on Wednesday announced an economic relief package amid nationwide coronavirus lockdown in which her prime focus was on to save jobs in the MSME sector and help it to get back on track.

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  SBI to disburse Rs 700 cr to Mumbai circle MSMEs by June-end

  Business | April 23, 2020 22:50 IST

  State Bank of India (SBI), the country's largest lender, has set a target of disbursing Rs 700 crore to MSMEs in the Mumbai circle by the end of June, to help them tide over liquidity crisis due to the COVID-19 lockdown. 

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  Economic package focussing on SMEs may be announced soon

  Business | April 14, 2020 22:06 IST

  The next set of stimulus measures from the government will have a clear focus on concerns of SME segments that have been hit hard due to Covid-19 outbreak and resultant nationwide lockdown.

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  Gadkari asks India Inc to clear outstanding payments to MSMEs

  Business | April 14, 2020 16:03 IST

  Union Minister Nitin Gadkari on Tuesday asked India Inc to clear huge outstanding payments to micro, small and medium enterprises at the earliest in order to ease the distress in the sector and inject liquidity into market. 

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  RBI announces incentive for lending to MSME, home, auto sectors

  Business | February 06, 2020 15:04 IST

  The Reserve Bank of India has tweaked maintenance of cash reserve ratio (CRR) norms by providing relaxation in calculation of total deposits. The move will encourage lending towards these targeted sectors having multiplier effect by banks as they will get exemption in CRR over incremental lending.

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  Sarangi calls on Arunachal Governor

  India | November 06, 2019 10:17 IST

  Union Minister of State for Micro, Small and Medium Enterprises (MSME) and Animal Husbandry, Dairying and Fisheries, Pratap Chandra Sarangi on Tuesday called on Arunachal Pradesh Governor Brig. B.D. Mishra (Retd.) at Raj Bhavan. During the meeting, they discussed self-employment and financial empowerment of youth through MSME and Fisheries and dairy development in Arunachal Pradesh. Mishra emphasised that special efforts must be made in capacity building of unemployed and underemployed youth of the State through MSME programmes. He said that through MSME schemes, the youth will have opportunities to become entrepreneurs and in turn, can provide jobs to others as well.

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  Govt to soon change definition of MSMEs: Nitin Gadkari

  Business | October 22, 2019 16:26 IST

  The new definition is likely to be effected through an amendment to the MSME Act and may lead to further improvement in India's ease of doing business scenario.