Digital Initiatives for to promote the Ease of Doing Business of MSMEs

In the World Bank’s Doing Business (DB) rankings for 2019, India has climbed 23 spots to rank 77th globally. India has witnessed a substantial jump in the rankings for the second consecutive year. In the year 2018 India had jumped 30 ..

Month: Current Affairs - January, 2019

RBI forms expert committee to rejuvenate MSMEs

The Reserve Bank of India (RBI) has formed an expert committee to look into the various challenges being faced by MSMEs and suggest ways and measures to rejuvenate them. Composition of the Committee The eight-member committee would be chaired by ..

Month: Current Affairs - January, 2019

Export Promotion Cell for MSMEs

The Ministry of Micro, Small and Medium Enterprises has established an Export Promotion Cell. The cell aims to create to create a sustainable ecosystem for micro, small and medium enterprises (MSMEs). Exports from the MSME sector The performance of the ..

Month: Current Affairs - January, 2019

RBI proposes loan restructuring of MSMEs

The RBI has proposed a one-time loan restructuring scheme for micro, small and medium enterprises (MSMEs). The loan restructuring would be a big relief for troubled small businesses hit by demonetisation in late 2016 and the implementation of goods and ..

Month: Current Affairs - January, 2019

Samsung Signs MoU with Ministry of Micro, Small and Medium Enterprises (MSME) to Set Up 2 more Tech Schools

Samsung India has signed a memorandum of understanding (MoU) with the Ministry of Micro, Small and Medium Enterprises (MSME) for setting up two new Samsung Technical Schools in Bengaluru and Jamshedpur as well as to renew the partnership for 10 existing schools ..

Month: Current Affairs - June, 2017

Union Government launches Technology Acquisition and Development Fund under NMP

Union Government has launched the Technology Acquisition and Development Fund (TADF) under the National Manufacturing Policy (NMP), 2011. It was launched by Union Minister of State (MoS) for Commerce & Industry Nirmala Sitharaman in New Delhi. Key facts TADF will ..

Month: Current Affairs - November, 2015

Union Cabinet gives nod to India-Taipei MoU on MSME

The Union Cabinet has approved the MoU between the Taipei Economic and Cultural Center (TECC) in India and India-Taipei Association (ITA) in Taipei. Decision in this regard was taken at Union Cabinet Meeting chaired by Prime Minister Narendra Modi in ..

Month: Current Affairs - October, 2015

MIDC inks MoU with SIDBI to raise Rs 200-crore fund for MSMEs

Maharashtra Industrial Development Corporation (MIDC) has inked memorandum of understanding (MoU) with state-run Small Industries Development Bank of India (SIDBI) to provide easy finance to micro, small and medium enterprises (MSMEs) for their growth. The MoU was signed Ananta P ..

Month: Current Affairs - May, 2015

Small Finance Banks

On 27 November 2014, RBI had released the guidelines on Small Finance Banks along with the Payment Banks. The objective of small finance banks is to further financial inclusion by providing: Basic banking facilities to the unbanked and thereby boosting ..

Trade Receivables Discounting System

Trade Receivables Discounting System or TReDS is a welcome step by RBI to secure finances for micro, small and medium enterprises. It has been set up under the regulatory framework set up by RBI under Payment and Settlement Systems Act ..