Nitin Gadkari suggests way to boost credit access for micro units; discussions underway with Niti Aayog

Credit and Finance for MSMEs: MSME Minister Nitin Gadkari suggested having a chartered accountant in every city who will act as an auditor-cum-accountant to regulate or check the annual performance of

4 ways how current taxation system may ease compliance and boost ease of doing business for MSMEs

Ease of Doing Business for MSMEs: Considering the fact that we majorly depend on MSMEs for employment, exports, and GDP contribution, the finance ministry is striving to facilitate their exponential g

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Thanks to lockdown, Grofers revises IPO plans; looks to list a year before earlier targetted timeline

As Covid struck India around February and lockdown was enforced by the government across the country on March 25, the digital grocery segment emerged to be among the biggest winners during the period.

Special resolution framework for MSMEs soon, to have ‘better acceptance’ of genuine failures: IBBI chief

Ease of Doing Business for MSMEs: Efforts are being made to speed up the processing of cases under IBC by having a provision for the pre-pack plan wherein the company and its creditors will agree upon

No more cheating on online shopping; govt notifies e-commerce rules on cancellation charges, complaints, more

The government asked the e-commerce firms to ensure that their grievance officers acknowledge any consumer complaint within 48 hours and redresses it within one month.

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Startups help India’s cloud software space to grow faster than global; SaaS market may scale 6X by 2025

India's software-as-a-service (SaaS) market has multiple startups that have hit $1 billion valuation including India's first unicorn InMobi, Freshworks, Zoho, Druva, Icertis, Postman, etc.

Digital India to have over 2% share of global e-payments in 3 years; UPI volume to grow nearly 300%

The growth for India's digital payments has come on the back of multiple retail payment products launched including Bharat QR, Aadhaar Enabled Payment System, National Electronic Toll Collection, Bhar

Beyond emergency package: Permanent alternative to one-time stimulus for MSMEs lies with fintech upstarts

Credit and Finance for MSMEs: Banks and NBFCs often rely on balance sheets to weigh the credibility of a business or look for hard collateral such as property or other fixed assets which an MSME owner

Ahead of Prime Day sale, Amazon expands fulfillment network; boosts storage capacity by 20%

With this expansion, will have more than 60 FCs in 15 states, with a total storage capacity of over 32 million cubic feet.

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Flipkart launches B2B marketplace for kiranas amid JioMart’s rise; acquires Walmart’s wholesale business

Flipkart also acquired the wholesale business of its parent company Walmart in India. It announced acquiring 100 per cent interest in Walmart India that owns and operates 28 Best Price cash and carry

Amazon Pay eyes insurance as next big bet; enters market with car, bike policies

Amazon Pay tied up with car and bike insurance startup Acko General Insurance to offer customers insurance “with no paperwork” along with “extra benefits including additional discounts,” for P

Open credit enablement network will democratise credit: Nandan Nilekani

According to a blog on technology think tank iSPIRT, OCEN is a common language for lenders, marketplaces to utilise and create innovative, financial credit products at scale.

“The unified payments interface (UPI) was a protocol for payments, OCEN allows you to connect lenders to marketplaces,” Nilekani said at the Global Fintech Fest.

Consumer Protection Act: Class action suit provision to keep e-commerce firms on toes for product defects

The Consumer Protection Act has conferred the CCPA with the power to order trader or manufacturer or advertiser or publisher to discontinue advertising found to be misleading following an investigatio

Enforcement Directorate has sent FEMA show cause notice of Rs 7,220 crore to a Kolkata-based jewellery house for allegedly indulging in illegal foreign exchange abroad

Open Credit Enablement Network will democratise credit, help small businesses: Nandan Nilekani

Speaking at the Global Fintech Fest 2020, Nilekani said India has become a "hotbed" of fintech innovation with inception of the UIDAI and NPCI over a decade ago and products like IMPS, FastTag and UPI

This would have a big impact as it would "truly democratise credit" and make sure credit reaches all the small companies, street vendors and others, he added.

Consumer behaviour shift: Small town buyers more inclined towards e-commerce in post-Covid world

Hygiene and safety concerns in physical stores have sparked growth for e-commerce sector during Covid as use cases multiplied with consumers fulfilling needs not just for apparel or electronics but al

Amazon, Flipkart, Snapdeal others must ensure display of country of origin: Centre to Delhi High Court

The affidavit, filed through central government standing counsel Ajay Digpaul, also stated that enforcement of the rules was the responsibility of the states and union territories.

e-commerce, india, consumer protection law, ministry of consumer affairs

Should MSMEs focus on revenue or profit amid Covid? Here are possible scenarios to answer that question

Credit and Finance for MSMEs: The focus on the revenue and profit is based on the visibility of the expected trends. The exhibit outlines the canvas of the potential strategies that MSMEs could adopt

Amazon, Flipkart-led e-commerce recovery crosses pre-Covid level; sector’s penetration jumps 1.5%

The biggest beneficiaries of the lockdown have been grocery businesses including Grofers, BigBasket and grocery arms of Flipkart and Amazon that suffered supply chain disruptions, product unavailabili

e-commerce, india, consumer protection law, ministry of consumer affairs

E-commerce fakes: How online retailers can curb counterfeiting without messing with customer experience

Standards-based traceability solution, which runs across the supply chain, is the first and the most crucial step towards complete, end-to-end visibility over supply chains. It enables brand owners/ c

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Credit guarantee scheme: Banks sanction Rs 1.27 lakh crore worth loans to MSMEs

All MSME borrower accounts with an outstanding credit of up to Rs 25 crore as on February 29, which were less than or equal to 60 days past due as on that date, i.e., regular, SMA-0 and SMA-1 accounts

In a first, Amazon to hold Prime Day sale in India before US; products from small businesses in focus

Technology for MSMEs: Amazon Prime Day 2020 would have more than 300 new product launches from brands including Samsung, Prestige, Intel, Fabindia, Dabur, Voltas, Godrej, Jabra, Titan, Max Fashion,

Amazon India to hire 20,000 temporary staff in customer service to serve global customers

Covid aftermath: Hiring sentiment improves for e-commerce, tech startups, SMEs; recovery 6 months away

The intent to hire (percentage of employers that is likely to hire employees during the current half year of FY21) for e-commerce businesses and technology startups recovered from 19 per cent during t

SpiceJet to strengthen its ecommerce platforms; acquires Ixigo’s tech subsidiary

SpiceJet will inherit the Travenues' airline technology and commerce platform that specialises with its deep tech advancements in mobile apps, cross-selling, payments, ancillaries, among others

Flipkart strengthens fashion business; acquires stake in Flying Machine’s owner Arvind Youth Brands

The investment by Flipkart will add to its strengths in online fashion segment as it has already been leading the segment with the dominance of Myntra ahead of its rival Amazon.

Flipkart's new part payment system, customers can make payment for products in two parts

Nitin Gadkari’s mantra to uplift very small enterprises; says microfinancing is need of hour

Credit and Finance for MSMEs: Union Minister Nitin Gadkari said that a policy of micro-financing is need of the hour for micro-businesses in rural, agricultural, and tribal sector.

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Good start-ups are getting sold to foreign firms, Indian investors need to play greater role: Piyush Goyal

The minister expressed confidence that once investors recognise the "great role" of start-ups in strengthening women entrepreneurship, boosting self reliant India campaign, promoting innovation, they

Help Indian MSMEs market products globally: Nitin Gadkari to Amazon

Nitin Gadkari said the MSME sector accounts for 30 per cent of India's growth and about 48 per cent of the country's exports. 

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