CORELOGS
ITSL has partnered with leading digital lending firms including Flexiloans, Capital Float & Arthimpact to facilitate MSMEs access to unsecured working capital loans.
"We got our much-needed break by way of an annual maintenance contract with the Goa Medical College. The contract continues even now and hasn't been broken even once," Venkateswaran says with pride.
Almost everyone agreed that it had to do a lot with the aftereffects of the Goods and Services Tax rollout, and the little help received from the government.
Zohos current model allows clients to customise its products based on their requirement.Zohos current model allows clients to customise its products based on their requirement.
"We are now trying to get into specific MoUs with various countries and also thinking in terms of Khadi fairs in select nations," a top official in the MSME Ministry said.
Small businesses or SMEs suffer from what is called as a 'thin-file' where the information available is not enough to come up with a lending decision.
Stating that Indian SMEs were not growing Rajiv Kumar, Vice Chairman, NITI Aayog said the Government is keen to correct that, "We will soon launch the Indian equivalent of the Small Business Innovation Research (SBIR) programme that the US has," said Kumar.
If LTCG has been a rude shock for investors, Fintech can provide an alternate. If that happens, small businesses may find some surprising benefits.
This will encourage banks to lend to this sector which is an engine for economic growth: Chandra Shekhar Ghosh, Founder, Bandhan Bank
As per the new classification, enterprises having annual turnover less than or equal to Rs 5 crore fall under the 'micro' category.
"In the light of feedback received from various stakeholders and in line with the increasing importance of services sector in our economy, it has been decided to remove the currently applicable loan limits," RBI said Wednesday.
This dispensation allowed to banks and NBFCs will be applicable for dues between September 2017 and January 2018 if the aggregate exposure does not exceed Rs 25 crore.
On the online lending to MSMEs, the minister said a trial run conducted for Prime Minister's Employment Guarantee Programme was successful and transparent and the model may be taken forward.
According to Union MSME Minister Giriraj Singh, around 800 villages will be converted into Khadi clusters for generating employment as the government is working towards taking Khadi out from Khadi Bhawan and take it to malls and retail chains.
In the face of changing business climate, Canon says that it believes effective solutions are those which simplify complications and deliver succinct resolutions to problems.
Not many would remember what has turned out to be an ambitious programme for the NDA regime today actually began in a modest way at the APMC in Kalaburagi in December 2011.
Connecting GST Network with TReDS (Trade Receivables Discounting System) is the first step for digital lending platforms to calculate their creditworthiness.
Jaitely observed that a series of steps have been undertaken to integrate the MSME sector in the formal economy and that the health of this sector is extremely vital given it is one of the largest employers.
