MSME Current Affairs, GK & News

Lok Sabha passes Insolvency and Bankruptcy Code (Amendment) Bill 2021

On 28th July, 2021, Lok Sabha has passed the Insolvency and Bankruptcy Code (Amendment) Bill 2021. This Bill replaces the Insolvency and Bankruptcy Code (Amendment) Ordinance 2021 which was implemented on 4th April, 2021. Key Points Insolvency is a situation where a company or an individual are unable to pay their debt. The government has ..

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Lok Sabha passes Factoring Amendment Bill

On 26th July, 2021 the Lok Sabha passed the Factoring Amendment Bill to amend the Factoring Regulation Act 2011. This bill will broaden the scope of the entities which can participate in the factoring business and also will ensure that strong oversight and regulatory mechanisms are put in place. Nirmala Sitharaman, Finance Minister of India, ..

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Govt announces inclusion of retail and wholesale trades under MSMEs

Minister of MSME, Nitin Gadkari, announced on July 2, 2021 about revised guidelines for MSMEs which has included retail and wholesale trade under Micro, Small & Medium (MSME) Enterprises. Key Facts Inclusion of retail & wholesale trades mean that retail & wholesale trade will be able to avail benefits like priority sector lending under RBI ..

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Govt simplifies MSME registration process

Minister for Road Transport & Highways and Micro, Small and Medium Enterprises, Nitin Gadkari has simplified the of process for registration of Micro, Small & Medium Enterprises. Key Points MSMEs will only require PAN and Aadhaar for registration. One the MSMEs are registered, they will be getting priority and finance. No new training will be ..

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World Bank approves program to boost MSME sector

World Bank has approved a USD 500 million program to boost MSME sector in India. World Bank Programme World Bank programme called “USD 500 million Raising and Accelerating Micro, Small and Medium Enterprise (MSME) Performance (RAMP) Program” aims to improve performance of five lakh 50 thousand MSMEs. It was announced because out of 58 million ..

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