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News - (Get Professional Updates on Whatsapp, Msg on 8285393786) Category : MSME

MSME Ministry implements AI & ML tools to get insights into MSME related issues and grievances
Posted Date : 15-Oct-2020 , 10:27:56 am | Posted By CASANSAAR

The Ministry of MSME in a major initiative has onboarded latest IT tools of Artificial Intelligence(AI) and Machine Learning (ML) for providing assistance and solutions to the issues of Micro, Small, and Medium Enterprises (MSMEs). Ministry has implemented AI & ML on its robust Single Window Sys...

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Category : MSME | Comments : 0 | Hits : 441

Govt urges Pvt sector to clear MSME dues on priority
Posted Date : 15-Sep-2020 , 10:04:51 am | Posted By CASANSAAR

Micro, Small and Medium Enterprises, MSME, Ministry has asked the private sector enterprises of the country to take measures for release of payment of MSME dues on priority. During the announcement of AatmaNirbhar Package, it was desired that the MSME receivables and dues should be paid in 45 day...

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Category : MSME | Comments : 0 | Hits : 276

Government aiming to create 5 Cr additional jobs in MSME sector
Posted Date : 11-Sep-2020 , 10:32:55 am | Posted By CASANSAAR

Union Minister for Road Transport & Highways and MSME, Nitin Gadkari has said that he aims to enhance MSME contribution to GDP from about 30% to 50%; and in exports from 49% to 60%. Gadkari said that his Government is aiming to create 5 crore additional jobs in the MSME sector which presently em...

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Category : MSME | Comments : 0 | Hits : 345

Banks sanction loans of Rs.1.61 lakh Cr to MSMEs under credit guarantee scheme
Posted Date : 08-Sep-2020 , 10:26:28 am | Posted By CASANSAAR

The Finance Ministry on Monday said banks have sanctioned loans of about Rs.1,61,017 crore under the Rs.3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector reeling under the slowdown caused by the coronavirus pandemic. However, disbursements against this stood at Rs.1,...

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Category : MSME | Comments : 0 | Hits : 937

All NBFCs can now provide MSMEs loans against dues via TReDS
Posted Date : 21-Aug-2020 , 09:31:58 am | Posted By CASANSAAR

The Cabinet on Wednesday allowed all non-banking financial companies to provide discount loans to MSMEs against dues from government departments, through the TReDS platform. So far only a selected NBFCs and banks were on the platform and could give the discount loans to MSMEs. Briefing the med...

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Category : MSME | Comments : 0 | Hits : 295

Govt considering giving MSME status to dealers
Posted Date : 19-Aug-2020 , 10:39:04 am | Posted By CASANSAAR

The government is considering according MSME status to dealers as it will enable them to avail benefits offered to micro, small and medium enterprises, Union Minister Nitin Gadkari said on Tuesday. Micro, small and medium enterprises (MSMEs) comprising manufacturing and services units need to get...

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Category : MSME | Comments : 0 | Hits : 352

Banks sanction Rs 1.38 lakh Cr loans to MSMEs under ECLGS
Posted Date : 05-Aug-2020 , 08:52:09 am | Posted By CASANSAAR

The Finance Ministry on Tuesday said banks have sanctioned loans of about Rs 1,37,586 crore under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for MSME sector, hit hard by the economic slowdown due to COVID-19 pandemic. However, disbursements against this stood at Rs 92,090....

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Category : MSME | Comments : 0 | Hits : 325

Banks sanction about Rs 1.23 lakh Cr loans to MSMEs under credit guarantee scheme
Posted Date : 17-Jul-2020 , 09:58:14 am | Posted By CASANSAAR

The finance ministry on Thursday said banks have sanctioned loans of about Rs 1.23 lakh crore under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for MSME sector, reeling under the economic slowdown caused by COVID-19 pandemic. However, disbursements against this stood at Rs ...

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Govt finalising special insolvency resolution under IBC for MSMEs
Posted Date : 14-Jul-2020 , 09:21:58 am | Posted By CASANSAAR

The Ministry of Corporate Affairs (MCA) is finalising a special insolvency resolution under section 240A of the Insolvency and Bankruptcy Code (IBC), 2016. "The Ministry of Corporate Affairs is finalising a special insolvency resolution under section 240A of the Code, to provide relief to th...

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Category : MSME | Comments : 0 | Hits : 180

Public, Private Sectors banks sanctioned loans worth over Rs 1.10 lakh cr under Emergency Credit Line Guarantee Scheme
Posted Date : 05-Jul-2020 , 10:43:36 am | Posted By CASANSAAR

Public and Private Sectors banks have sanctioned loans worth over one lakh ten thousand crore rupees so far under Emergency Credit Line Guarantee Scheme. Out of which, more than 52 thousand 200 crore rupees have already been disbursed. The scheme was launched by the government to provide relief t...

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Category : MSME | Comments : 0 | Hits : 465

World Bank approves $750 million to support credit finance for Indian MSMEs
Posted Date : 02-Jul-2020 , 10:44:50 am | Posted By CASANSAAR

The World Bank has approved $750 million to support increased flow of finance into the hands of micro, small, and medium enterprises (MSMEs) in India, severely impacted by the covid-19 crisis. The package will support the MSME package announced by the government under its self-reliant India programm...

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SBI sanctions loans to over 4 lakh MSMEs under credit guarantee scheme
Posted Date : 28-Jun-2020 , 09:33:54 am | Posted By CASANSAAR

State Bank of India (SBI) has sanctioned loans to over 4 lakh accounts under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for MSME sector, hit hard by the coronavirus-induced lockdown. On the occasion of International MSME Day, SBI managing director C S Shetty on Friday addr...

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Category : MSME | Comments : 0 | Hits : 210

MSMEs launches another funding scheme to help the distressed MSME sector
Posted Date : 26-Jun-2020 , 09:43:38 am | Posted By CASANSAAR

Minister of MSME, Shri Nitin Gadkari today launched the Credit Guarantee Scheme for Sub-ordinate Debt (CGSSD) which is also called “Distressed Assets Fund–Sub-ordinate Debt for MSMEs”. As per the Scheme, the guarantee cover worth Rs. 20,000 crores will be provided to the promote...

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Category : MSME | Comments : 0 | Hits : 960

Public Sector Banks disburse 18 thousand 306 crore rupees to MSME sector - FM
Posted Date : 19-Jun-2020 , 10:28:15 am | Posted By CASANSAAR

Finance Minister Nirmala Sitharaman today said the Public Sector Banks have disbursed 18 thousand 306 crore rupees to the Micro, Small and Medium Enterprises, MSME sector. She said, Public Sector Banks have sanctioned loans worth 32 thousand 49 crore rupees under the 100 per cent Emergency Credit...

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Category : MSME | Comments : 0 | Hits : 272

FM chairs meeting with Pvt Banks, NBFCs to ensure effective roll out of ECLGS
Posted Date : 16-Jun-2020 , 10:13:23 am | Posted By CASANSAAR

Finance Minister Nirmala Sitharaman chaired a meeting through Video Conference with officials of Major Private Banks and Non Banking Financial Companies today to ensure effective roll out of Emergency Credit Line Guarantee Scheme. She stressed on the need to extend uninterrupted liquidity to Micr...

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Category : MSME | Comments : 0 | Hits : 333

FM asks PSU banks to focus on MSME outreach
Posted Date : 10-Jun-2020 , 10:03:15 am | Posted By CASANSAAR

Finance minister Nirmala Sitharaman on Tuesday asked public sector banks to make proactive outreach to the micro, small and medium enterprises (MSMEs) and ensure supply of credit to them. Sitharaman asked banks to cut down on paperwork and keep the formalities simple for the sector, the Departmen...

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Category : MSME | Comments : 0 | Hits : 433

Exports not to be counted in turnover for any enterprise of the new MSME definition
Posted Date : 04-Jun-2020 , 03:41:50 pm | Posted By CASANSAAR

Union Ministry of Micro, Small and Medium Enterprises (M/o MSMEs) has issued Gazette notification to pave way for implementation of the upward revision in the definition and criteria of MSMEs in the country. The new definition and criterion will come into effect from 1st July, 2020.   Aft...

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Category : MSME | Comments : 0 | Hits : 218

MSMEs to be classified based on new revised criteria from 1st July 2020
Posted Date : 04-Jun-2020 , 09:45:37 am | Posted By CASANSAAR

From 1st July 2020, over six crore micro, small and medium enterprises across the country will be classified on the basis of the new criteria approved by the government. As per the revised criteria, a unit with Rs 50 crore of investment and Rs 250 crore of turnover will fall under the 'medium...

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State Bank of India gives Rs 3,000 crore to MSMEs in a day
Posted Date : 03-Jun-2020 , 09:02:48 am | Posted By CASANSAAR

The government's credit guarantee scheme for micro, small and medium enterprises (MSME) has taken off with the State Bank of India (SBI) beginning disbursements. Rajnish Kumar, chairman of SBI, the country's largest lender, on Tuesday said the public sector bank in a single day disbursed ...

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Category : MSME | Comments : 0 | Hits : 448

Notification on MSME criterion leads to confusion
Posted Date : 03-Jun-2020 , 09:00:23 am | Posted By CASANSAAR

Even as the central government has further revised the criterion for defining micro, small and medium enterprises (MSMEs), a disparity in the cabinet note and the gazette notification has left industrialists confused. Under the new definition, industries having an investment into plant and machin...

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Category : MSME | Comments : 0 | Hits : 467

PM launches technology-based solution CHAMPIONS to provide one stop solutions to MSMEs
Posted Date : 02-Jun-2020 , 09:13:55 am | Posted By CASANSAAR

Prime Minister Narendra Modi launched technology-based solution named as CHAMPIONS for MSME sector, today in New Delhi. The platform CHAMPIONS which stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength is aimed to provide one stop solu...

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Category : MSME | Comments : 0 | Hits : 427

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