Startups, farmers, others to now get easy loan from banks; RBI identifies these areas as priority sectors

Credit and Finance for MSMEs: RBI said that the revised PSL guidelines will enable better credit penetration to credit deficient areas and increase lending to small and marginal farmers and weaker sec

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Paytm cuts back on losses in FY20; reports revenue increase amid economic slowdown

Vijay Shekhar Sharma’s Paytm has cut back on its losses drastically in the last financial year even while the country continued to face the heat of an economic slowdown.

ECLGS for MSMEs: 24 lakh units benefitted so far out of targeted 45 lakh; disbursal stood at 37%

Credit and Finance for MSMEs: FM Nirmala Sitharaman asked banks to roll out the debt resolution or recasting schemes by September 15 for Covid-related stress among businesses.

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Hacker group hacked PM Modi’s Twitter account to tell everyone they didn’t target Paytm Mall

Cyble had cited sources claiming that the hacker group asked for 10 Ethereum, equivalent to $4,000, in ransom from Paytm Mall.

Piyush Goyal mulls platform with ‘like-minded’ nations for startups; calls Modi ‘real startup entrepreneur’

Piyush Goyal urged India Inc leaders to provide mentorship to young businesses and entrepreneurs and also requested colleges to look at entrepreneurship or other courses around new-age businesses.

‘MSMEs’ fear in automating manufacturing not from robots but from resistance towards latter’s adoption’

Technology for MSMEs: While most people think of automation in terms of a completely human-free experience, the more realistic solution in the case of MSMEs is the use of cobots, a new kind of collabo

Till now, the vision and navigation advancement of robots has been undertaken along two routes.

Amazon, Snapdeal shrug off ‘country of origin’ disclosure duty; say it’s manufacturer or seller’s job

While e-commerce platforms were directed to ensure displaying ‘country of origin’ tag on products sold online, Amazon and Snapdeal have shrugged off the responsibility and have put the onus on man

Fundraising: Zomato raises fresh $62 million from Temasek

While the amount may not seem large, every penny counts at a time when the lockdown has hurt business badly and revenues are under pressure.

In this highly competitive space, Zomato so far has raised a little over $900 million while investors have infused close to $1.64 billion into rival Swiggy.

Flipkart Wholesale starts ops to serve kiranas, MSMEs

In July, Flipkart had announced the launch of Flipkart Wholesale to service the wide network of kiranas across the country. In a corporate restructuring exercise, Walmart India has been housed in Flip

Digital India: New portal for MSME registration sees early traction; this many firms register in 2 months

Ease of Doing Business for MSMEs: The government has also integrated Udyam portal with the government’s e-commerce marketplace GeM and TReDS platform to facilitate invoice financing.

Modi govt says 3/4th of monthly MSME dues cleared in same month; paid this much amount during June-Aug

Credit and Finance for MSMEs: While the Finance Minister Nirmala Sitharaman had asked government entities in May to clear MSME dues within 45 days, the Department of Expenditure had issued an Office M

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Unacademy becomes latest edtech unicorn in India as SoftBank leads new funding round

Unacademy now has 30 million registered users and 350,000 paying subscribers, almost four times as many as in February. The platform has more than 18,000 registered educators.

Investors in the $150 million funding include existing backers Facebook Inc. and Sequoia Capital, while SoftBank’s money is coming from Vision Fund 2, a successor to its initial $100 billion fund.

SIDBI extends state-wise MSME support programme to 11 states; to design schemes, modify existing ones

Ease of Doing Business for MSMEs: The PMU will analyse the existing schemes and initiatives etc., targeted towards MSMEs and would suggest modifications, if required, in order to improve efficacy and

Economic woes to continue in Q2? MSME credit falls in July, rises for this crucial sector instead

Credit and Finance for MSMEs: Credit offtake by small businesses remained dismal in July -- the first month of the fiscal second quarter, when the economic activity was trying to recover after a prolo

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GeM: Now Amazon of govt buying to facilitate MSMEs with ‘Hall of Fame’; to offer rewards, certifications

Ease of Doing Business for MSMEs: The registered sellers and buyers would be inducted into the ‘Hall of Fame’ and facilitated with certifications and rewards.

‘We can’t miss out on software products opportunity; time for startups to Make in India but for world’

The time is ripe to push hard the software products agenda. To this end, the government unveiled the National Policy for Software Products last year. Currently, at around $9 billion (FY 20), the secto

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Pandemic: BigBasket records 84% jump in new customers

The new consumers are using the platform for their monthly grocery purchases as well as top-ups.

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Govt’s Rs 3 lakh cr credit guarantee scheme for MSMEs should also cover term loans, says U GRO’s MD

Credit and Finance for MSMEs: The first half of FY2021 is likely to see reduced disbursements by NBFCs that are also staring at the reality of degraded asset quality and to a significant extent, affec

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Bigbasket sees 84 pc jump in new customers in July vs pre-COVID

The total number of times a customer visited the Bigbasket website/app is 55 per cent higher than before and the number of households ordering on the platform has gone up by 44 per cent, it added.

The number of new customers has increased by 84 per cent versus pre-COVID levels and the retention rate by 50 per cent, Bigbasket said in a statement.

Toy MSMEs fear immediate pressure to comply with BIS norms may trigger shutdowns; seek up to 2-year time

Ease of Doing Business for MSMEs: Toy MSMEs are apprehensive of getting BIS certification right away amid financial crunch and drop in demand due to the Covid pandemic.

Reliance’s JioMart crosses 50 lakh downloads on Google Play Store; sees this much weekly installs

While Reliance launched the JioMart website and app offering a minimum 5 per cent off below MRP on all products, the company has now enhanced it to 7 per cent.

The e-grocery segment has been one of the fastest to recover from the impact of the Covid-19 pandemic, with sales numbers reaching the pre-Covid level in June itself.

Digital India: Companies must help employees to make paperless expense claims

Employees and managers spend a substantial amount of time submitting and reviewing or approving claims, that significantly impacts their business productivity.

Digital payments,

Paytm makes it easy for businesses to collect payments; now, customers can pay via wallet, UPI, cards

Homegrown payments gateway Paytm has expanded its services and made it easier for businesses to collect payments via various methods.

Venture debt vs venture capital: As VCs turn cautious, debt can help startups fill working capital gaps

As equity investors become cautious about investments, the share and importance of venture debt are poised to rise.

LinkedIn-like jobs app for poor Indian workers secures $8 million from investors

Apna, an app startup that aims to connect millions of bottom-of-the-pyramid workers to employers amid the devastation of India’s lockdown, has raised $8 million from a clutch of investors.

Cyient to acquire Australian tech consulting firm IG Partners

Cyient’s share price, which opened at Rs 412 on the NSE and Rs 409 on the BSE, however, did not pick up after the announcement. The price fell to Rs 388.30 on the NSE and Rs 388 on the BSE by the cl

Ed-tech firm Eruditus raises $113 million in Series D round

The latest investment takes Eruditus’ total fund count to over $160 million. The fresh funding round includes a mix of primary and secondary investment and gives the company a post-money valuation o

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