Flipkart signs MoU with Bengal govt to support artisans, weavers, handicraft makers
KOLKATA: Flipkart on Monday announced that it has signed a memorandum of understanding with the West Bengal government to train and support local artisans, weavers and handicraft makers to leverage its e-commerce platform to scale up their businesses nationally. The agreement was signed with the state’s micro, small and medium enterprises and textiles department. West…
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Will take up MSMEs’ suggestion to raise turnover cap for small units to PM, finmin: Narayan Rane
NEW DELHI: Union Minister Narayan Rane on Wednesday said he will take up the suggestion of MSME associations to raise the turnover limit for classifying ‘small’ enterprises to Rs 100 crore with the prime minister and the finance ministry. As per the existing classification of MSMEs, a unit is categorised as a small enterprise if…
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ICICI Bank launches all digital ecosystem for MSMEs
MUMBAI: ICICI Bank announced that it has launched a digital ecosystem for all Micro, Small and Medium Enterprises (MSMEs) in the country, including customers of other banks. The ecosystem has three pillars: Enhanced banking services for existing customers A bouquet of banking services to MSMEs, who are customers of other banks A whole range of…
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ZED certification scheme launched for MSMEs
New Delhi: Union Minister Narayan Rane on Thursday launched a sustainable certification scheme (ZED) to facilitate MSMEs to adopt ‘Zero Defect Zero Effect’ practices and become energy efficient while improving quality through increased compliance with manufacturing processes. MSMEs can reduce wastages substantially, increase productivity, enhance environmental consciousness, save energy, optimally use natural resources, expand their…
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MSME sector to achieve mid-teen growth in fiscal 2022 says study
KOLKATA: Lauding the large part played by the Medium, Small, and Micro Enterprises (MSMEs) in India’s economic rebound, the latest ASSOCHAM-CRISIL joint study adds that the sector is expected to achieve mid-teen growth in fiscal 2022 with the pick-up of economic activities. The report, titled, ‘MSMEs back to the grind’, is jointly conducted by the…
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IIFL Finance, Open Financial join hands to launch neobank for MSMEs
NBFC company IIFL Finance Ltd. and Open Financial Technologies Private Ltd., Asia’s largest SME focused neo-banking platform today announced a joint venture to launch India’s first neobank to cater to banking and credit requirements of Micro and Small Enterprises (MSMEs). As part of the arrangement, the initial capital of the joint venture company will be…
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MNC e-commerce giants violating FDI norms: CAIT
India’s largest traders’ association CAIT on Tuesday said few multinational e-commerce giants with a heavy arsenal of funding are attempting to flout foreign investment guidelines for the sector and demanded strict enforcement action. Releasing a whitepaper on the e-commerce policy, the Confederation of All India Traders (CAIT) said e-commerce entities have “structured their relationship as…
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Due dates and corporate compliance calendar for financial year 2022-23
With the last few days of March, we are approaching the closure of the financial year 2021-22. This means there are a bunch of things that every business must prepare for and a set of compliances that one needs to adhere in the next fiscal year, 2022-23. If you are a startup of a private…
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Aye Finance raises Rs 75 crore debt from Triple Jump and Northern Arc
New Delhi: MSME lender Aye Finance has announced an INR 75 crores debt raise from leading global impact investment manager, Triple Jump BV and Northern Arc. The company aims these funds for on-lending. The CapitalG backed lender was incepted in 2014 and since then has disbursed over INR 5000 crores to over three and a…
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Paycraft becomes the official ticketing partner for Pune Metro
Home-grown MSME, Paycraft has successfully completed the deployment of ticketing and payment solutions at upcoming Pune metro project. This project was inaugurated by Prime Minister Narendra Modi on Monday. PayCraft is an end-to-end ticketing and payment solution provider for Pune metro. The company was tasked to build ‘one mobile app’ and ‘common mobility card’ for…
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