SME

Opaqueness in forex transactions for MSMEs: How small firms can get through forex trading complexities

Credit and Finance for MSMEs: Despite being an important contributor to the growing forex business, MSMEs often get trapped between the complexities and jargon of the forex market that often gets too

forex

Meity Startup Hub, Paytm collaborate to launch programme to support deep-tech startups

Ministry of Electronics and IT senior director of Innovation and IPR AK Garg said Meity Startup Hub, through its association with Paytm, aims to build a strong deep-tech startup ecosystem by providing

paytm

RBI extends PIDF scheme to street vendors covered under PM SVANidhi in tier 1, 2 centres

In a statement on Thursday, Reserve Bank of India (RBI) said it has now decided to include street vendors identified as part of the PM SVANidhi scheme in tier-1 and tier-2 centres as beneficiaries und

RBI

SIDBI to provide loan to Tamil Nadu govt under new cluster development fund to upgrade MSME clusters

Credit and Finance for MSMEs: The expert committee on MSMEs headed by U.K. Sinha in its June 2019 report had recommended SIDBI the use of Priority Sector Shortfall (PSS) funds to create a low-cost len

Loan delinquencies materially increased in SME, retail segments; NPLs may jump 50% in 2 years: Moody’s

Credit and Finance for MSMEs: The retail and SME NPL ratio has increased at most banks rated by Moody’s. This included Punjab National Bank, Union Bank of India, Bank of Baroda, Yes Bank, ICICI Bank

MSE credit growth remains in red for third straight month in June; share in gross bank credit up

Credit and Finance for MSMEs: Bank credit to medium enterprises reported a 63.2 per cent YoY growth to Rs 1.88 lakh crore in June 2021 from Rs 1.15 lakh crore in June 2020.

Mature factoring markets, more specifically Europe, continue to dominate the factoring market, accounting for 68% of global factoring. The factoring market worldwide is projected to reach $9.2 trillion by 2025.

MSMEs using Effitrac’s no-code tools can now access digital banking platform from RazorpayX

Technology for MSMEs: As a part of the partnership, Effitrac's MSME customers will have access to the array of digital banking solutions offered by RazorpayX such as payout links, current account, boo

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Ecosystem for MSMEs requires complete overhaul

Ease of Doing Business for MSMEs: All lending institutions working for the MSME sector need to move to cash-flow based lending from the balance sheet approach.

Ecosystem, MSMEs, credit, small business, credit, payments, MSME productivity, MSME competitiveness, MSME Ministry, Narayan Rane, Nitin Gadkari, Sector specific policies, labour, MSME stress, Finance Minister, Small Finance Banks, NBFCs, regional rural banks, TREDS, payment delays, District Industries Centers, Telangana Industrial Health Clinic

Credit Entry: Khatabook raises $100 million, valuation touches $600 million

Angel investor and entrepreneur Balaji Srinivasan and start-up investor Sriram Krishnan participated as independent investors in the round, the company said in a statement on Tuesday.

The financial services on the Khatabook platform will digitally foster lending, payment and deposits-related efficiencies in the ecosystem, the firm said.

Microsoft partners Invest India to support tech startups

These startups span various industries such as agriculture, defence & security, IT/ITeS, e-mobility, waste management, and financial services," the statement said.

microsoft

Edtech start-up Eruditus looks for acquisitions to broaden its portfolio

Besides, the Mumbai-based start-up will also look at acquisitions that have the potential to give the firm a foothold in the undergraduate segment.

Eruditus recently bagged a fresh $650 million in funding led by Accel and SoftBank Vision Fund 2 at a post-money valuation of $3.2 billion.

USD 17.2 bn infused in Indian startup ecosystem by venture capital firms during Jan-July: Report

SoftBank Corp led the charts with approximately USD 3.5 billion worth of investments in the past three years, followed by Tiger Global, Temasek, Sequoia Capital and Prosus Ventures, the report noted.

Indian startups raised USD 6.5 bn funding in Q2 2021, 11 new unicorns created: Report

About 27 per cent of the unicorns added in the second quarter of 2021 were fintech startups, while 18 per cent each belong to SaaS (software as a service) and social commerce, the report said.

Ubharte Sitaare Fund: Rs 250-crore export-oriented fund for MSMEs launched

The fund, jointly sponsored by Exim Bank and SIDBI, has a size of Rs 250 crore with a green shoe option of Rs 250 crore. The fund will invest by way of equity, and equity-like products, in export-orie

The initiative would play a catalytic role in contributing to the growth of the identified companies and would also have downstream benefits such as growth and diversification of India’s exports, impetus to brand India, and employment generation.

With fresh $105-million fundraise, B2B manufacturing platform Zetwerk joins unicorn club

The company's revenue from operations increased to Rs 949 crore in FY21 from Rs 360 crore in FY20. Losses narrowed to 2% of revenues against 8% in the year-ago period, the firm claimed.

The investment, part of the company’s Series E financial round, is also being backed by Lightspeed Venture Partners, Greenoaks Capital and Accel.

Facebook launches loans for small businesses in partnership with Indifi

Credit and Finance for MSMEs: The collateral-free loans will be in the range of Rs 5 lakh and Rs 50 lakh; charged at a pre-defined interest rate of 17%-20% per annum.

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Facebook India launches ‘Small Business Loans Initiative’

Indifi will also disburse the loan amount within five working days of the borrower completing all documentation formalities after acceptance of the offer by Indifi.

Facebook Election hate speech hate post

PhonePe gets $50 million from Tencent but won’t use it for India operations

According to a regulatory filing in Singapore, investment firm Tencent has infused USD 50 million in the company and Tiger Global USD 16.5 million.

PhonePe gets $50 mn from Tencent but won't use it for India operations

Agri-start up Agdhi bags $70,000 grant for ‘SeedVision’

SeedVision is an Artificial Intelligence (AI)-based seed phenotyping method that classifies critical parameters of a seed in a few minutes, Agdhi said.

Until the incumbents are fully onboard, investors of long-term patient capital will need to remain patient.

Zomato invests over $100 million in Grofers

The Competition Commission of India (CCI) had last week approved the deal. “Commission approves proposed acquisition by Zomato of approximately 9.3% stake in Grofers India and Hands on Trades,” th

Total losses for Grofers increased by over 40% year-on-year to Rs 637.49 crore in the year to March 31, 2020. Revenue from operations, however, grew by a little over 135% y-o-y to Rs 165.27 crore in FY20.

Centre firming up road map to woo patient capital for start-ups

Goyal also impressed on participants to help bolster the flow of seed funding into start-ups by widening the base of angel investors. The number of angel investors in India is estimated to be only 6,0

Highlighting the growth in the start-up ecosystem, the minister said over 54,000 start-ups were providing more than 5.5 lakh jobs, and more than 20 lakh jobs will be created by 50,000 new start-ups in the next five years.

LIC, EPFO keen to set up fund for startups, says DPIIT Official

Additional Secretary in the Department for Promotion for Industry and Internal Trade (DPIIT) Anil Agrawal said it was decided that a portal will be developed by the Small Industries Development Bank o

Commerce and Industry Minister Piyush Goyal

PM Modi’s 59-min MSME loans: Marginal uptick in loans sanctioned; this many worth Rs 63k crore disbursed

Credit and Finance for MSMEs: The scheme enables term loans and working capital loans, and Mudra loans for MSMEs to purchase plant and machinery, technology upgrade, product expansion, purchase of raw

Independence Day: What Indian MSMEs need freedom from after 75 years of independence

Ease of Doing Business for MSMEs: While Covid proved detrimental for multiple enterprises as many had reportedly shut down businesses temporarily or narrowed their operations, business activity was la

indian flag

DreamCap announces $250-million corpus to fund sports start-ups

Over the past 1 year, DreamCap has already invested in 8 start-ups in India such as SoStronk, DreamGameStudios, Elevar, FanCode and DreamSetGo.

DreamCap will follow a multi-stage investment strategy ranging from $1-100 million ticket sizes, the company said in a statement on Wednesday.

Sellers’ collective urges Narayana Murthy to extend support to antitrust probe against Amazon

In its open letter to Murthy on Wednesday, ISC appealed to the Infosys co-founder to "join the cause of ten crore retailers whose livelihood depends on their small shops and micro establishments."

more than 100 small and medium sellers will offer products in amazon prime day sale
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