Chennai, April 23: In a bid to boost the startup ecosystem in India and help the women-led MSMEs in the country, the International Finance Corporation (IFC) part of the World Bank Group has proposed to loan up to $150 million to Bajaj Finance Ltd. Under the new initiative, Bajaj Finance will increase its lending to MSME […]
Tag Archives: MSME Sector in India
Digitalisation To Play Key Role in Growth and Development of MSME Sector in India, Says Nitin Gadkari
With an aim to development of small businesses in the country, digitalization across areas like marketing and manufacturing would play a critical role, Micro, Small and Medium Enterprises Minister Nitin Gadkari said. The Minister also emphasised the need for technologies that can help expand economically viable MSMEs in the rural and tribal areas across the […]
Startups and MSMEs in India Get Major Boost As Indian Bank Signs MoU With SID of IISc for Extending Exclusive Credit Facility to Businesses
New Delhi, February 20: In a bid to extend the exclusive credit facility to Startups and MSMEs in India, state-owned Indian Bank has inked an MOU with the Society for Innovation and Development (SID), an initiative of the Indian Institute of Science. Under the pact, the Indian Bank will extend loans of up to Rs […]
MSME Sector in India Gets Major Boost As Banks Sanction Rs 2.05 Lakh Cr Loans to 81 Lakh MSMEs Under Credit Guarantee Scheme
New Delhi, December 12: With an aim to help the MSME sector which was impacted by disruptions caused due to the coronavirus pandemic, the Finance Ministry on Friday said banks have sanctioned loans worth Rs 2,05,563 crore to about 81 lakh accounts under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the […]
MSMEs Backbone of Indian Economy, Govt Aiming to Increase the Sector’s Contribution to India’s GDP to 50%, Says Nitin Gadkari
Hyderabad, December 12: Terming Micro, Small and Medium Enterprises (MSME) as the backbone of Indian economy, MSME Minister Nitin Gadkari said the Modi government is now aiming is to increase the MSME sector’s contribution to the GDP to about 50 percent. The existing contribution of the MSME sector to India’s GDP is 30 percent. While […]
‘MSME Prerana’, an Online Business Mentoring Programme Launched for MSMEs; Here’s All You Need to Know
Chennai, October 7: ‘MSME Prerana’, an online business mentoring programme for MSMEs by state-run Indian Bank has been launched. The initiative was launched by Union Finance Minister Nirmala Sitharaman on October 6. The online programme will be made available in local languages and is aimed at empowering entrepreneurs through skill development and capacity building workshops. […]
MSME Sector to Grow and Contribute to Job Creation With the Help of Structural Reforms Taken by Modi Govt, Says Finance Ministry Report
New Delhi, October 6: The Finance Ministry on Monday said that the major structural reforms launched by the Modi government in agriculture markets, labour laws provide unparalleled opportunity for the MSME sector to grow and prosper. These reforms will in turn contribute to job creation in the primary and secondary sectors. A report by the […]