Why e-invoicing system has been a roller coaster ride for MSMEs so far

Ease of Doing Business for MSMEs: Many medium and small enterprises lack storage arrangements. You can be affected by the lack of storage facilities and servers for IRNs, not supported by the GSTN.

Create digital platform like UPI for easy credit to MSMEs, others: IT minister exhorts banks

India's performance in digital payment space is the envy of countries all around the world that only a few years back thought they were ahead in technology and innovation.

Over 5 lakh retail, wholesale trade Udyam registrations in 5 months since inclusion under MSME

Ease of Doing Business for MSMEs: The inclusion of retail trade and wholesale trade in the MSME category was essentially a restoration of the MSME status that was taken away from the two trade segments back in June 2017.

Entrepreneurs should tap into opportunity emerged from closure of factories in China: Narayan Rane

Ease of Doing Business for MSMEs: Rane noted that entrepreneurs must adopt the latest technology and machines for the production of goods that aren’t made in China anymore in order to provide quality products and capture global markets.

Mastercard partners with Mswipe, Samhita-CGF to get 1 lakh micro merchants into digital economy

Technology for MSMEs: Mastercard intends to bring 50 million micro and small businesses worldwide into the digital economy by 2025.

Delayed payments: Pending MSME dues cleared grow nearly three-fold since December 2020

Credit and Finance for MSMEs: Even as the government has been urging ministries, PSUs, others to clear MSME dues within 45 days, it can’t force them to clear payments, former MoS Finance Anurag Thakur had told Parliament last year.

Mudra NPAs: Bad loans in FY21 jumped 30% in value; nearly doubled from FY19

Credit and Finance for MSMEs: 5.07 crore loans involving Rs 3.21 lakh crore were sanctioned in FY21, of which Rs 3.11 lakh crore loan amount was disbursed in comparison to 6.22 crore loans sanctioned in FY20.

Government has no plans to implement rating system for MSMEs: MSME Min Narayan Rane

Credit and Finance for MSMEs: The erstwhile Performance & Credit Rating Scheme of the MSME Ministry was discontinued in December 2018. The scheme was intended to provide a third-party opinion on MSMEs’ capabilities and creditworthiness.

Nearly 25,000 MSMEs registered for PM Modi’s Zero Defect, Zero Effect scheme: MSME Min Narayan Rane

Ease of Doing Business for MSMEs: According to the MSME Ministry, ZED-certified MSMEs will act as credible and reliable vendors for companies investing in India, gain recognition from the government through an award-and-reward system, have leverage over non-ZED rated units, and more.

Our SME customer base doubled in the last 5 years: Oracle’s Sheela Nambiar

Technology for MSMEs: In 2017, Oracle India created a separate strategic business unit Oracle Digital to cater specifically to MSME customers. Today, of all the new accounts the company acquires, 60-70 per cent are of small businesses.

Champions portal: MSME grievances resolved jump 2X in over 12 months

Ease of Doing Business for MSMEs: Apart from registering their grievances, MSMEs can offer suggestions and ideas to the government, check government schemes offered to MSMEs, file applications for delayed payments, and more.

Udyam portal: Micro enterprises dominate registration count on Modi govt’s digital platform

Ease of Doing Business for MSMEs: The highest number of MSME registrations was recorded in Maharashtra with 12.30 lakh units followed by Tamil Nadu (6.30 lakh), Gujarat (4.90 lakh), Rajasthan (4.72 lakh), and Uttar Pradesh (4.50 lakh).

Narayan Rane: No data on MSME job losses during Covid because of this reason

Skill, labour, and talent for MSMEs: The MSME Ministry had earlier this month invited bids from government organisations, institutions, and enterprises for “conducting a two-month study on assessment of sick or closed MSMEs in the past five years and Covid impact."

Credit startup ePayLater sees disbursal growth

ePayLater provides credit solutions to SMEs spread across more than 100 cities in the country and has disbursed over Rs 1,000 crore in facilitating inventory purchases.

RBI NPA recognition norms: MSME loans by NBFCs will be one of the most impacted segments, says Crisil

Credit and Finance for MSMEs: The RBI had recently changed the NPA recognition norms to a daily due-date basis instead of the month-end. NBFCs usually increase collection activity between the due date and the month-end, and as a result, their overdues decline by the end of the month.

Singapore crypto exchange Coinstore enters India amid govt seeking to ban private cryptocurrencies

Coinstore's $120-million fund, which is allocated for India expansion, will be deployed towards marketing, hiring, and development of crypto-related products and services for the Indian market.

Cornext: This startup solves the fodder crisis for dairy farmers

Hyderabad-based Cornext has recently been selected for the Indo-Israel Cohort programme

PM SVANidhi: Loans disbursed see 9% QoQ growth; applications sanctioned jump 11%

Credit and Finance for MSMEs: 45 per cent of the borrowers were fruits and vegetable vendors followed by 21 per cent engaged in fast food and food vending, 14 per cent in cloth and handloom items; among others.

India leading the world in field of start-ups: PM Modi

Asserting that it is not necessary that bravery should be displayed only on the battlefield, Modi narrated how people of Jalaun in Uttar Pradesh revived the Noon river which was on the verge of extinction.

Rs 60,000 cr scheme for Covid-hit sectors yet to be notified five months after announcement: FHRAI

Credit and Finance for MSMEs: The overall economic relief package of Rs 6.29 lakh crore announced in June this year also included Rs 1.1 lakh crore Loan Guarantee Scheme for Covid affected sectors. Under the scheme, Rs 50,000 crore was aimed at the health sector and Rs 60,000 crore for other sectors including tourism.

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