According to its Price range announcement earlier this yr, the Finance Ministry has requested Public Sector Banks (PSBs) to undertake pilot programmes of the brand new credit score evaluation mannequin for MSMEs. The Indian Banks Affiliation (IBA), which has been tasked with the duty to give you the brand new credit score evaluation mannequin, official sources … Read more
After the success of UPI within the digital funds house, RBI is now taking a look at a nationwide launch of a know-how platform to allow frictionless credit score throughout numerous sectors, significantly for agriculture and MSME debtors. The platform will facilitate consent-based circulate of digital info, together with land data of varied states, from … Read more
The Indian private laptop (PC) market together with desktops, notebooks, and workstations declined by 6.6 per cent year-on-year to 13.9 million items in 2023, however HP India continued its progress and was the highest PC maker with a 31.5 per cent market share. It was the primary participant in desktop and pocket book classes with … Read more
The Union Finances has given a leg-up to MSMEs (micro, small and medium enterprises) by way of proposals to introduce a credit score assure scheme for facilitating time period loans for buy of equipment and gear with out collateral or third-party assure and a assure from a government-promoted fund to supply credit score help throughout … Read more
The Tamil Nadu authorities plans to develop a brand new auto cluster from scratch at Thoothukudi in southern Tamil Nadu because of the EV manufacturing challenge of VinFast and to assist future auto investments. Additionally learn:Indian enterprises generated practically half of AI/ML transactions in APAC: Report “Chennai is a really large cluster within the automotive … Read more
The textile sector has expressed concern over the introduction of a brand new clause within the Revenue Tax Act, 1961 within the interim Price range for the 2024-25 fiscal on fee for items supplied by Micro and Small Enterprises (MSME) by Finance Minister Nirmala Sitharaman. Presenting the interim Price range, the Finance Minister mentioned the … Read more
Finance Minister Nirmala Sitharaman on Saturday stated the initiatives of the Customs division like Faceless Evaluation and Single Window Clearance must evolve with the general goal to develop commerce as each associate must collaborate to assist India’s GDP surpass $5 trillion by 2027-28. Additionally learn: Nirmala Sitharaman to equal Morarji Desai’s document with sixth consecutive … Read more
With a majority of MSMEs expressing confidence in India’s financial system bettering in 2024, roughly 44 per cent of them plan to broaden their employment base, reflecting a optimistic sentiment in the direction of making a conducive enterprise surroundings, in keeping with NeoGrowth, an MSME-focused NBFC. The examine has analysed responses from round 3,000 … Read more