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
Category: MSME-Startup
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.
Time has come for fiscal stimulus to support the economy: Uday Kotak | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/time-has-come-for-fiscal-stimulus-to-support-the-economy-uday-kotak-121052700048_1.html We are working with the government and vaccine manufacturers to increase the vaccine available for Indian business and industries, said Uday Kotak Confederation
Falling between the cracks – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/columns/r-srinivasan/falling-between-the-cracks/article34651753.ece The pandemic has worsened the plight of India’s urban poor. It is time the Centre turned its policy focus on them Just how
With no cushion like last time, second Covid wave poses challenges for auto lenders – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/with-no-cushion-like-last-time-second-covid-wave-poses-challenges-for-auto-lenders/article34651027.ece?homepage=true Borrowers grappling with reduced capacity utilisation, increased operating costs The second Covid-19 wave will have a material impact on automobile lenders’ asset quality
Second Covid-19 wave may leave a bigger dent on GDP: Reports – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/indicators/2nd-wave-may-leave-a-bigger-dent-on-gdp/articleshow/82959246.cmsSynopsis Slow vaccinations and the uneven easing of curbs by states will likely weigh on recovery. “Even as India’s second Covid-19 wave starts to
Growth pangs: Govt weighs fresh stimuli, relief package to soften Covid-19 blow – The Financial Express
Clipped from: https://www.financialexpress.com/economy/growth-pangs-govt-weighs-fresh-stimuli-relief-to-soften-covid-19-blow/2258903/ Package could be ‘smaller compared to last year’s yet meaningful’; tourism, hospitality, aviation among focus sectors The RBI had in April (before the
Up for sale: At least 1,200 Covid-hit small businesses looking for exit route – Today’s Paper – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/article34645983.ece More than 50 per cent of the stressed businesses listed on its website are from thetravel industry More than 50 per cent of
India plans stimulus package for sectors worst affected by second wave – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/india-plans-stimulus-package-for-sectors-worst-affected-by-second-wave/articleshow/82933881.cmsSynopsis In April, the finance ministry eased rules for capital expenditure by government departments to try to boost spending in the economy. Pressure also
Karnataka SME industry: Strict lockdown, slump may dent Karnataka’s SMEs this year too – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/strict-lockdown-slump-may-dent-karnatakas-smes-this-year-too/articleshow/82933539.cmsSynopsis Karnataka is home to over 800,000 medium, small and micro enterprises and the sector provides the second largest employment after agriculture BENGALURU: Medium,
RBI’s new restructuring package for small borrowers: Will it work? | Business Standard News
lipped from: https://www.business-standard.com/article/economy-policy/rbi-s-new-restructuring-scheme-for-small-borrowers-will-it-work-121052300905_1.html The new restructuring package for small borrowers has little chance of taking off Imaging: Ajay Mohanty “Eat a live frog first thing in
Why your business urgently needs a succession plan – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/hr-leadership/leadership/covid-impact-why-your-business-urgently-needs-a-succession-plan/articleshow/82790331.cmsSynopsis Given the uncertainties we face; it is wise to plan for a time when you may not be around to lead your business.
NBFCs brace for defaults, grim business prospects | Business Standard News
clipped from: https://www.business-standard.com/article/economy-policy/second-covid-19-wave-nbfcs-brace-for-defaults-grim-business-prospects-121052001459_1.html The collections are down as staff is not able to reach out to customers. With falling collections in the second Covid wave and
Centre considers a revamp of stressed asset guarantee scheme for MSMEs | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/centre-considers-a-revamp-of-stressed-asset-guarantee-scheme-for-msmes-121052001518_1.html As of May 14, guarantees of only Rs 68.39 crore had been issued, benefiting 632 businesses, a senior government official told Business Standard
Allow banks wider recast of loans – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/allow-banks-wider-recast-of-loans/2255982/ The second wave has hit small businesses hard; permit recast of loans of upto Rs 50 crore, while classiying the accounts as NPAs
Eateries launch own ordering websites – The Financial Express
Clipped from: https://www.financialexpress.com/industry/eateries-launch-own-ordering-websites/2255988/ “We used Instagram to market the brands. The marketing costs are justified given that we are building the brands for the long term,”
Second wave of Covid-19: Consider second loan recast, PSBs tell RBI | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/second-wave-of-covid-19-consider-second-loan-recast-psbs-tell-rbi-121052000034_1.html Want lower provisioning for restructuring than last year Reeling from the second wave of Covid-19 and its economic impact, public sector banks have
