SME

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

Gudi Padwa, All India Gem and Jewellery Domestic Council, GJC, Maharashtra lockdown, Maharashtra, Mumbai, CM, jewelry, jewelry shopping, Ashish Pethe, The All India Gem and Jewellery Domestic Council, Nitin Khandelwal, Khandelwal Jewellers, Vidarbha Chamber of Commerce & Industry, Akola, Saiyam Mehra, Unique Chains, karigars, gems and jewellery, lockdown, Uddhav Thackeray, wedding season, auspicious days, GJC, Ashish Pethe GJC, Gudi Padwa, Ugadi, Chaitra Navratri, Jhulelal Jayanti, Mesha Sankranti, Solar New Year, Puthandu, Vishu Kani, Masik Karthigai, Ambedkar Jayanti, Baisakhi, Gauri Puja, Gangaur, Pohela Boishakha

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.

wework, coworking company, Rs 200 crore investment debt and equity, Karan Virwani, Embassy growth, sustainable long term growth

‘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.

In Q12020, Amazon’s international business had booked huge losses led by the nationwide lockdown in India that limited operation of e-commerce firms to delivery of essentials.

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.

All India Gem and Jewellery Domestic Council requests the Maharashtra CM to allow jewellers to operate in lockdown

Ease of Doing Business for MSMEs: The national body of the gems and jewellery industry GJC has written to the Chief Minister of Maharashtra Uddhav Thackeray to allow jewellers to operate on the festiv

All India Gem and Jewellery Domestic Council, GJC, Maharashtra, Mumbai, CM, jewelry, gems and jewellery, lockdown, Uddhav Thackeray, wedding season, auspicious days, Ashish Pethe, GJC, Ashish Pethe GJC, Gudi Padwa, Ugadi, Chaitra Navratri, Jhulelal Jayanti, Mesha Sankranti, Solar New Year, Puthandu, Vishu Kani, Masik Karthigai, Ambedkar Jayanti, Baisakhi, Gauri Puja, Gangaur, Pohela Boishakha

Amazon India’s MSME sellers so far: 2.5M cumulatively digitised, $3B worth exports, 1M jobs created

Ease of Doing Business for MSMEs: Amazon had announced plans in January last year to invest $1 billion for digitizing 10 million Indian MSMEs over the following five years. Amazon has more than 7 lakh

Amazon India

Strong growth in new seller addition in India despite pandemic: Amazon

Speaking to PTI, Amazon Global Senior Vice President and Country Head India Amit Agarwal said more than 2.5 lakh new sellers have joined since last year, and that the rate at which sellers have come o

Asked about allegations that only a few large sellers  especially those where Amazon has invested  are doing well, Agarwal said the facts speak of a very different reality.

Relief for OYO subsidiary in ‘bankruptcy’ case as NCLAT stays insolvency proceeding

"OHHPL appealed the order in front of NCLAT and explained that a demand draft of INR 16L was issued to the claimant under protest and the claimant has willingly banked the DD," OYO said.

MSME lender U GRO Capital eyes Rs 20,000 crore AUM by 2025 to address small business credit gap

Credit and Finance for MSMEs: U GRO is looking to acquire a 1 per cent market share of the SME lending market by 2025 which translates to around Rs 20,000-crore asset under management.

ShareChat raises USD 502 mn from Snap, Twitter, others

ShareChat on Thursday said it has raised USD 502 million (about Rs 3,725 crore) in funding led by Lightspeed Venture Partners and Tiger Global, valuing the homegrown social media platform at over USD

sharechat

Unpaid dues: Oyo moves NCLAT against insolvency order

The order for initiating the insolvency resolution process was passed by the Ahmedabad bench of NCLT on April 1, on an application filed by an operational creditor over non-payment of dues amounting t

“The creditors of Oyo Hotels and Homes are hereby called upon to submit their claims before April 15 to the interim resolution professional,” an April 3 order of the interim resolution professional, Keyur Jagdishbhai Shah, stated.
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