Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/non-banks-npas-may-rise-to-4-5-5-per-cent-by-march-2022-icra/articleshow/83147376.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Icra Ratings said non-banks (NBFC and HFCs) will feel the stress of the second wave of COVID-19 and movement restrictions imposed by various
Category: MSME-Startup
Fiscal support to MSMEs needed to pay employees’ salaries; refunds of unadjusted taxes a must: FICCI survey – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/fiscal-support-to-msmes-needed-to-pay-employees-salaries-refunds-of-unadjusted-taxes-a-must-ficci-survey/2262471/ Even as businesses acknowledged the policy support extended by the Reserve Bank of India on May 5, 2021, including financial support to MSMEs,
How supply chain financing can resolve capital issues for MSMEs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/how-supply-chain-financing-can-resolve-capital-issues-for-msmes/articleshow/83106050.cmsSynopsis Lenders’ reluctance to extend financing to most MSMEs can be traced back to their inability to adequately assess creditworthiness of small borrowers and
Govt expands credit lifeline for MSMEs amid second wave of Covid-19 | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/govt-eases-emergency-credit-guarantee-scheme-to-help-businesses-in-pandemic-121053000305_1.html Scheme removes the ceiling of outstanding loans of Rs 500 crore, keeps government’s guarantee cover of Rs 3 trillion. Loans given under ECLGS
Stimulus package should be broad-based, like Budget: NITI Aayog chief | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/stimulus-package-should-be-broad-based-like-budget-niti-aayog-chief-121053000658_1.html In a Q&A, Amitabh Kant says the package should aim to lift growth instead of picking specific sectors for assistance Amitabh Kant said
PSU banks to follow template with three loan buckets for recast 2.0 | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/psu-banks-to-follow-template-with-three-loan-buckets-for-recast-2-0-121053000537_1.html Lenders come out with standardised products to help mitigate Covid crisis Public sector banks, including the country’s largest lender State Bank of India
The rural worry | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/the-rural-worry-121053000918_1.html Bharat is suffering on multiple counts Prime Minister Narendra Modi rightly noted last week that the economic impact of the Covid-19 pandemic was “huge”. The
A no-action policy with focus on growth | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/a-no-action-policy-with-focus-on-growth-121053000836_1.html ‘Unwinding’ is unlikely to happen before the third quarter of this year even if we don’t mess up in tackling a possible third
GST Council refers composition scheme for ice cream makers back to Fitment Committee – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/gst-council-refers-composition-scheme-for-ice-cream-makers-back-to-fitment-committee/article34683284.ece ‘Given the high value addition, the revenue implication is significant’ The ice cream sector will have to wait to be included in the
Banks can lend about ₹46,000 crore to MSMEs, civil aviation sector – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/banks-can-lend-about-46000-crore-to-msmes-civil-aviation-sector/article34683172.ece?homepage=true Scheme extended up to Sept-end or till guarantees of ₹3-lakh crore are issued Banks can lend about ₹46,000 crore to the micro, small
NDA failed to do its job on the economy: Big job-creating schemes needed to revive consumer demand & small businesses – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/nda-failed-to-do-its-job-on-the-economy-big-job-creating-schemes-needed-to-revive-consumer-demand-small-businesses/2261834/ At the last count, the cumulative loss of salaried jobs, since the pandemic, was 12.6 million across urban and rural areas; as of
Banks decide to extend unsecured personal loans for Covid treatment – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/banks-to-extend-unsecured-personal-loans-for-covid-treatment/article34681473.ece?homepage=true Banks to create Covid loan book as per the RBI’s announcement Public Sector Banks (PSBs) have decided to make available unsecured personal loans
PSBs to follow templated approach to restructure loans – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/psbs-to-follow-templated-approach-to-restructure-loans/article34681671.ece?homepage=true Resolution process has to be invoked within 30 days from the receipt of the application Public Sector Banks (PSBs), under the aegis of
SME: Bengal SMEs, exporters seek relaxation from COVID-19 restrictions – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/bengal-smes-exporters-seek-relaxation-from-covid-19-restrictions/articleshow/83033086.cmsSynopsis West Bengal hosts the highest number of MSMEs in the country and they play a vital role in the state economy. KOLKATA: In
KCCI seeks solutions to tackle Covid-induced problems of MSMEs – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/kcci-seeks-solutions-to-tackle-covid-induced-problems-of-msmes/article34665139.ece Demands measures including relaxation of NPA norms for loans availed, waiver of fixed charges of Escoms With the second wave of Covid pandemic
Cab drivers seek moratorium on vehicle loans, support – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/news/national/cab-drivers-seek-moratorium-on-vehicle-loans-support/article34671113.ece “Banks and the finance cos are seizing vehicles even as the drivers are struggling to earn enough to survive” KV Kurmanath With the pandemic
FISME writes to RBI’s Shaktikanta Das; suggests funding cash losses, suspending SMA norms, others for MSMEs – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/fisme-writes-to-rbis-shaktikanta-das-suggests-funding-cash-losses-suspending-sma-norms-others-for-msmes/2260116/ FISME also suggested sanctioning term loans to firms whose capital expenditure may have got stuck midway, suspending bank loan ratings by external credit
Hit hard by pandemic, retailers, traders seek waiver of property tax and license fee – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/retail/hit-hard-by-pandemic-retailers-traders-seek-waiver-of-property-tax-and-license-fee/articleshow/82976676.cmsSynopsis Since April, nearly two dozen states including Maharashtra, Karnataka, Rajasthan, Chhattisgarh, West Bengal, Madhya Pradesh and Odisha, have restricted timings of shops selling
Credit card spends grow at slow pace as Covid second wave hits sentiment – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/credit-card-spends-grow-at-slow-pace-as-covid-second-wave-hits-sentiment/articleshow/82992775.cmsSynopsis Asset quality from the unsecured segment a big worry; banks have curtailed credit limits and also cut back on new customer additions Mumbai:
Centre working on packages for those who lost sole breadwinner, orphaned children – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/india/centre-working-on-packages-for-those-who-lost-sole-breadwinner-orphaned-children/articleshow/82985618.cmsSynopsis Discussions have been held with stakeholder ministries to ready the package at the earliest, given the huge financial impact such families are facing.
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