The number of sick micro, small and medium enterprises in the country rose substantially after the revision in the definition of sickness by the Reserve Bank in November 2012, Parliament was informed. The number of sick MSMEs in March 2013 stood at 2,48,890, minister of state for MSMEs KH Muniyappa told the Lok Sabha recently. The figure went up sharply from 88,635 in March 2012 “on account of revision of definition of sickness” by the RBI, he said.
Khadi weavers not to be included under MGNREGA
Khadi weavers and spinners across the country will not be included under the Mahatma Gandhi National Rural Employment Guarantee Act, Lok Sabha was informed recently. Minister of state for MSMEs KH Muniyappa said the ministry of rural development didn’t find inclusion of khadi under MGNREGA feasible as the focus of the Act was on unskilled work. Industry bodies have been demanding that Khadi Kutir Udyog workers should be given wages at par with the MNREGA labourers.
Bassein Catholic Bank and Crisil sign MoU for MSME rating
The Bassein Catholic Bank Ltd has entered into an MoU with Crisil on December 10. Under the terms of the MoU, CRISIL will help the Bank’s potential and existing MSME customers to obtain credit ratings. The Bassein Catholic Bank has a presence in five districts of Maharashtra, and runs a network of 37 branches and 29 ATMs.
Kreata Global Digital Media acquires Flamingos Media
In the first-ever acquisition of a start-up incubated at the Kochi Startup Village, Kreata Global Digital Media Services has acquired social media marketing firm Flamingos Media Private Ltd for an undisclosed amount. Kreata Global, an online and social media marketing company with presence in India and the Middle East, offers a wide array of services, including digital strategy, social media marketing, online advertising, e-commerce and search engine optimisation.
WB govt clears its Integrated Skill Development Policy
The West Bengal government has cleared the ‘Integrated Skill Development Policy’ restructuring the existing department of technical education and training, which would now be named the department of technical education, training and skill development, panchayat minister Subrata Mukherjee said.
National Board for MSMEs discusses public procurement policy