SME

Amazon announces $250 m venture fund for startups; local traders launch Asmbhv event

“My request is for the RBI to investigate Fema violations wherever these have taken place so that the foreign platforms if they are defaulters, can be checked and stopped,” said Ashwani Mahajan fr

The fund will invest in start-ups and entrepreneurs that focus on digitising small and medium businesses (SMB) and drive technology-led innovations in agriculture and healthcare.

Nitin Gadkari: Opportunity for Indian MSMEs as countries look to diversify their supplies out of China

Ease of Doing Business for MSMEs: "With global supply chain undergoing significant restructuring and companies looking to diversify their supply out of china, our MSMEs have a great opportunity of bei

He said the government was embarking on a plan to raise the village industry’s turnover from Rs 88,000 crore at present to Rs 5 lakh crore in five years.

MSME invoice discounting platform M1xchange raises $10M from Amazon’s new $250M Smbhav Fund, others

Credit and Finance for MSMEs: M1xchange was among the three Trade Receivables Discounting Systems (TReDS) apart from RXIL and Invoicemart that received approval from the Reserve Bank of India (RBI) in

Return on savings account

Amazon announces $250M venture fund focusing on SMEs; aims to bring 1M offline retailers online by 2025

Credit and Finance for MSMEs: Amazon also announced a 'Spotlight North East’ programme to get 50,000 artisans, weavers, and small businesses online from the eight states in the North East region of

Flipkart to acquire Cleartrip

Under the terms of the agreement, Cleartrip operations will be acquired by Flipkart and Cleartrip will continue to operate as a separate brand, it added.

flipkart

Govt overachieves annual MSE procurement target for third straight year even as YoY growth rate falls

Ease of Doing Business for MSMEs: The number of MSEs benefitting from annual procurement contracted to 1.48 lakh in FY21 from 1.57 lakh in FY20.

Coinbase on Nasdaq: What the landmark listing means for Indian crypto startups, investors, ecosystem

The milestone would also allow crypto bulls to advocate even more affirmatively for digital assets' proliferation. Among the most prominent and largest crypto exchanges, Coinbase was launched in 2012

Interview | We want to double MSME loans under SIDBI’s 59-min scheme in 2021: Online PSB Loans’ Jinand Shah

Credit and Finance for MSMEs: "Around 60-65 per cent of sanctioned loan applications belong to MSMEs in the manufacturing and services sectors while trading vertical accounts for another 30-35 per cen

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MSME jobs: Growth in small businesses’ intent to hire during Q1 FY22 drops amid Covid

Skill, Labour, Talent for MSMEs: The hiring intent among e-commerce and technology startups was high for the current quarter. From 41 per cent in Q4 FY21, the intent jumped to 51 per cent in Q1 FY22.

On a year-on-year basis, there was a notable growth of 25 per cent in hiring in March compared to the same month last year, led by sectors including IT-software, medical/ hospital and retail, the report said.

Stellaris, Omidyar Network, others back SME cashflow management startup Credflow

Credit and Finance for MSMEs: Stellaris Venture Partners had earlier backed startups including Vogo, Mamaearth, and Signzy while Omidyar had invested in enterprises such as Quikr, Dailyhunt, 1mg, Veda

Pine Labs acquires Fave in a $45-million deal

Merchant commerce platform Pine Labs has acquired Southeast Asian fintech platform Fave in a transaction valued at $45 million.

MSME exports: How fintech can catalyse cross-border transactions for small firms selling via e-commerce

Trade, import, and export for MSMEs: MSME exporters face the issue of a long payment cycle and often lose out because of currency fluctuation. These are small players who don’t have a financial cush

Exports have grown faster than most countries from the early 1990s till today", Banerjee said.

BIS certification: Govt offers 50% concession for micro enterprises, women entrepreneurs, startups

Ease of Doing Business for MSMEs: Existing BIS license holders including micro-enterprises and women entrepreneurs will be given an additional 10 per cent concession.

Delayed-payment cases by small businesses jump nearly 100% in 12 months; resolved cases double

Credit and Finance for MSMEs: The number of resolved delayed-payment cases has more than doubled from 3,145 involving Rs 598 crore to 6,643 involving Rs 1,075 crore.

Reserve Bank of India, RBI, RBI Policy, RBI Monetary Policy Committee, MPC meet, policy rate, Repo rate, UPI, money transfer, digital payment, NEFT, RTGS

Despite Gudi Padwa, jewelers hopes dim as showrooms remain shut amidst Maharashtra lockdown

Ease of Doing Business for MSMEs: With industry reports citing a stricter lockdown in the days to come, there is fear of a higher percentage of cancellations of made-to-order items that are now lying

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Maharashtra: How MSMEs in India’s economic hub are left Covid-ravaged even as they stare at worst phase now

Ease of Doing Business for MSMEs: Maharashtra has been the biggest beneficiary of the Emergency Credit Line Guarantee Scheme (ECLGS) to offer loans to Covid-hit small businesses and other enterprises

Coronavirus Lockdown 2021 Live News: Maharashtra 'in beginning of second Covid wave'; Pune reports 3,574 cases

WeWork India raises Rs 200 cr from investors to grow biz, become profitable in 2021

Coworking major WeWork India on Monday said it has raised Rs 200 crore from investors as equity and debt to grow its business and become profitable this year.

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‘2.1M women at the center of India’s direct selling market have become successful entrepreneurs’

Ease of Doing Business for MSMEs: The direct selling industry has contributed phenomenally towards self-employment generation in the country. From selling at home parties to selling via social media c

retail sector

SME lending, procurement startup OfBusiness gets $110M from Falcon Edge, Matrix Partners, others

Credit and Finance for MSMEs: Over the last year, OfBusiness secured $200 million in debt from over 40 lending partners including IDFC First, Kotak, SBI, Bank of Baroda, Bank of India, Punjab National

ecommerce

Amazon India launches mentorship programme for startups to connect with investors, mentors, others

Amazon Launchpad currently showcases over 2 lakh products offered by more than 800 emerging brands across 30 different product categories.

ECLGS: Extension of MSME refinancing scheme might add to banks’ exposure to stressed accounts, says Fitch

Credit and Finance for MSMEs: Under ECLGS, banks and non-banking financial companies (NBFCs) had already sanctioned 82 per cent or Rs 2.46 lakh crore of Rs 3 lakh crore corpus as of February 28, 2021.

Covid restrictions: 30% business loss in one week due to fresh curbs, says traders’ body CAIT

Ease of Doing Business for MSMEs: Inter-state movement of goods by traders contracted by around 15-20 per cent while consumer footfall in retail markets also witnessed a nearly 50 per cent drop, accor

Curfew in Parbhani

Speciale Invest raises Rs 120 cr as part of new fund for early-stage startups

Speciale Invest, a seed-stage venture capital firm investing in deep technologies, on Friday said it has raised Rs 120 crore as part of its Rs 140 crore-Speciale Invest Continuity Fund I.

Speciale Invest

Mohalla Tech turns unicorn, valued at $2.1 bn

Other investors, including Snap, Twitter and India Quotient, also backed the financial round.

“We are at a significant inflection point in our company’s journey — as the Internet penetration further deepens in India we are well-positioned to expand our ecosystem of products to over one billion MAUs (monthly active users) cumulatively,” CEO and co-founder Ankush Sachdeva said in a blog.

NCLAT stays insolvency proceedings against OYO

“Today (Thursday) NCLAT has admitted our plea and ordered a stay for the formation of CoC in IBC proceedings against OHHPL, an OYO subsidiary. The claimant has already drawn the Rs 16 lakh which we

OYO explained to the NCLAT that a demand draft of Rs 16 lakh was issued to the claimant under protest and the claimant has willingly ‘banked’ the demand draft.

Gupshup becomes latest unicorn, raises $100 million

The current funding will be followed by a “second close with significant additional funds raised from more investors,” the company said in a statement. The firm plans to use the fresh funds to sca

Gupshup's last funding round was in 2011. The company claims to have exited 2020 with an annual revenue run rate of approximately $150 million.

‘RBI’s Fair Practices Code to help eradicate digital lenders acting as agents for non-registered NBFCs’

The guidelines and regulatory code of conduct will help create an environment reverberating with trust and transparency in the sphere of financial services via digital lending platforms.

Such concerns gained ground when the RBI let multiple bond auctions devolve on primary dealers.
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