Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/government-looking-at-new-plans-laws-to-solve-msme-receivables-issue-gadkari/articleshow/80003881.cmsSynopsis As part of the Aatmanirbhar Bharat package announced in May, MSME dues from central government agencies and CPSEs should have been paid in
Category: MSME-Startup
Duvvuri Subbarao: Post Covid-19, India can bet on 3 positives for economic revival: Subbarao – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/post-covid-19-india-can-bet-on-3-positives-for-economic-revival-subbarao/articleshow/80008840.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The challenge for the government in the months and years ahead is clear: to put the economy back on a healthy growth trajectory
Loan restructuring requests much lower than estimated: Analysts – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/loan-restructuring-requests-much-lower-than-estimated-analysts/articleshow/80012185.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Analysts are also forecasting lower credit provisions and better profitability for banks in the next fiscal year starting April 1, on the back
Digital dangers | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/digital-dangers-120122801139_1.html Unauthorised lending apps must be stopped The Reserve Bank of India (RBI) last week cautioned the public against unauthorised lending apps offering quick loans, after reports of
Rule of 1% GST liability payable in cash may impact 45,000 units – The Hindu
Clipped from: https://www.thehindu.com/business/Industry/rule-of-1-gst-liability-payable-in-cash-may-impact-45000-units/article33426834.ece Input tax credit may be used for up to 99% of GST due; rule meant to check fraud The mandatory requirement of 1%
Cash flows, not ratings may decide loans in future: UCO Bank’’s Ajay Vyas – The Hindu
Clipped from: https://www.thehindu.com/business/Industry/cash-flows-not-ratings-may-decide-loans-in-future-uco-banks-ajay-vyas/article33412983.ece Trend has already begun with SBI, says ED of UCO Bank. Moving on from ratings criteria for grant of loans, banks are likely
LOANS VIA APP: International cyber-crime gang busted by Warangal police
WARANGAL: The cybercrime unit of the Warangal Commissionerate and the Jangaon Police jointly busted a five-member international gang luring people with easy loans via instant
Solve the primary problem in the banking sector–times of india
Clipped from: https://timesofindia.indiatimes.com/blogs/toi-editorials/solve-the-primary-problem-in-the-banking-sector/Quick Edit TOI Quick Edits are written by a team of seasoned journalists from the Times of India’s Edit Page and TOI-Online who respond
Corporate Insolvency: IBBI may rein in engagement of third party consultants – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/corporate-insolvency-ibbi-may-rein-in-engagement-of-third-party-consultants/article33378412.ece The Insolvency and Bankruptcy Board of India (IBBI), which has released the discussion paper on ‘Engagement of “professionals” in a corporate Insolvency Resolution
FinMin backs new GST rule, says it’s not for MSMEs, certain I-T payers | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/finmin-backs-new-gst-rule-says-it-s-not-for-msmes-certain-i-t-payers-120122700511_1.html Asserts that the move to ask companies above a threshold to pay one per cent of GST liability in cash targets fake invoicing
Traders’ body CAIT to FM Sitharaman: Defer Rule 86B in GST to ease compliance burden – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/msme-eodb-traders-body-cait-to-fm-sitharaman-defer-rule-86b-in-gst-to-ease-compliance-burden/2158480/ Ease of Doing Business for MSMEs: The Central Board of Indirect Taxes and Customs (CBIC) has introduced Rule 86B in GST that restricts
About 40% small businesses say it’s impossible to file tax returns by month end, want extension: LocalCircles – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/about-40-small-businesses-say-its-impossible-to-file-tax-returns-by-month-end-want-extension-localcircles/articleshow/79977398.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis As per the survey 41% of small businesses have said that it would be impossible for them to file income tax returns by
Credit demand fails to pick up despite aggressive rate cuts – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/credit-demand-fails-to-pick-up-despite-aggressive-rate-cuts/articleshow/79979474.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Besides 115 basis points reduction in the benchmark repo rate, the rate at which RBI lends to bank, the central bank has infused
MSMEs, small dealers not to be affected by mandatory 1 pc cash GST payment rule – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/msmes-small-dealers-not-to-be-affected-by-mandatory-1-pc-cash-gst-payment-rule/articleshow/79976256.cmsSynopsis Sources said the rule applies only to about 45,000 taxpayers out of the GST taxpayer base of 1.2 crore and genuine dealers and
2021: Banks brace for pandemic-hit corporates’ bad loan woes, muted credit growth – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/2021-banks-brace-for-pandemic-hit-corporates-bad-loan-woes-muted-credit-growth/articleshow/79975856.cmsSynopsis Muted private investment impacting the corporate loan growth will be another challenge that banks will have to face in the coming months. Despite
NPAs set to see a sharp jump this year amid Covid-19 pandemic: Experts | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/npas-set-to-see-a-sharp-jump-this-year-amid-covid-19-pandemic-experts-120122500886_1.html Of these accounts that would undergo restructuring, one-third, or Rs 6-9 trillion, would turn into NPAs Experts, barring rating agencies, expect a sharp
Demand for retail and personal loans rebound – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/demand-for-retail-and-personal-loans-rebound/articleshow/79960737.cms Synopsis–According to the regulator’s analysis, demand for retail and personal loans was assessed to have posted the highest recovery. Mumbai: Banks are witnessing a sharp
Bad debt fear keeps private banks away from street vendor loans – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/bad-debt-fear-keeps-private-banks-away-from-street-vendor-loans/articleshow/79963438.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Last week, a branch manager of a leading state-run bank in Madhya Pradesh wrote to the municipal commissioner seeking “cooperation” as several of
Bounce rate of auto debit transactions remains high amid lenders’ claims of improved collection efficiencies – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/data-stories/data-focus/bounce-rate-of-auto-debit-transactions-remains-high-amid-lenders-claims-of-improved-collection-efficiencies/article33419696.ece?homepage=true Is there rising financial stress amongst small and retail borrowers after the end of the loan moratorium, despite banks and NBFCs reporting collection
RBI unlikely to extend Dec 31 loan rejig deadline – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-unlikely-to-extend-dec-31-loan-rejig-deadline/articleshow/79934588.cmsSynopsis The governor on Wednesday concluded a two-day meeting with public sector and private sector banks, held through video conference. Days before banks closed
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