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
Category: MSME-Startup
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
Banks will focus on cash flow-based lending in future: UCO Bank’s Ajay Vyas – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/banks-will-focus-on-cash-flow-based-lending-in-future-uco-banks-ajay-vyas/articleshow/79938845.cmsSynopsis Various SBI officials have advocated for cash flow-based lending models over the traditional asset-based or ratings-based ones. In cash flow lending, a financial
Loan restructuring, other measures announced by govt to cushion PSBs from shock: DFS Secy – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/loan-restructuring-other-measures-announced-by-govt-to-cushion-psbs-from-shock-dfs-secy/articleshow/79956391.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Despite the pandemic, the lockdown and the consequent damage done to the economy, there are quick signs of recovery, Financial Services Secretary Debasish
Jobs: New demand-driven scheme in the works to create more entrepreneurs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/jobs/new-demand-driven-scheme-in-the-works-to-create-more-entrepreneurs/articleshow/79958336.cms SynopsisThe plan is to impart entrepreneurship development training to aspiring and existing entrepreneurs for setting up and scaling up their enterprises through 610
Timely warning from Reserve Bank of India – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/timely-warning-from-reserve-bank-of-india/2157179/ Some digi-lenders can be unscrupulous, so need to be cautious As useful and necessary it is to have an increasingly digitised lending environment,
Scaling back: How banks, NBFCs post pandemic can help MSMEs achieve growth in new normal – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/cafe-sme/msme-fin-scaling-back-how-banks-nbfcs-post-pandemic-can-help-msmes-achieve-growth-in-new-normal/2151713/ Credit and Finance for MSMEs: With the rise of innovations in fintech solutions, banks and NBFCs are fast enabling small and medium-sized enterprises
Delayed payments: MSMEs see 74% jump in rejected applications involving this much amount since March – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/msme-fin-delayed-payments-msmes-see-74-jump-in-rejected-applications-involving-this-much-amount-since-march/2155941/ Credit and Finance for MSMEs: Applications for delayed payments filed by MSEs are examined by MSEFC of the respective state where the enterprise
Powering MSMEs in the next decade of growth – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/powering-msmes-in-the-next-decade-of-growth/article33404359.ece The government must set up an independent consultancy body for MSMEs to help them navigate the digital world Micro, Small and Medium Enterprises
Juggling to survive the year, small businesses fret over lack of profitability – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/juggling-to-survive-the-year-small-businesses-fret-over-lack-of-profitability/articleshow/79913171.cmsSynopsis The year 2020 brought distress and damage aplenty for the MSME sector. Can the next year herald a new beginning for them? The
