SME
Softbank takes Oyo’s Latin America business in own hands as virus infects Ritesh Agarwal’s startup giant
After the coronavirus infected once the brightest star in Softbank’s investment portfolio Oyo, the investment firm has decided to take a direct role in the management of Ritesh Agarwal-founded start
Making room: OYO offers extension of leave, voluntary separation
In an interview with FE last month, Kapoor had said OYO has managed to reach 30% of the pre-Covid occupancy levels in India with bookings led by millennials and small businesses.
Harsha Bhogle invests in gaming startup Fantasy Akhada
Founded in January 2020, Fantasy Akhada claims to have gained around 1 lakh customers in the last 8 months.
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
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.
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
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.
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
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.
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
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
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.
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
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.
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.
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.
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.
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