Odisha announces Rs 289.42 crore as Covid-19 assistance to MSMEs
BHUBANESWAR: Odisha Chief Minister Naveen Patnaik has approved a package of Rs 289.42 crore for the benefit of MSMEs in order to combat the Covid-19 pandemic situation in the state. The package includes a number of assistance measures such as interest subvention, top-up subsidy, reimbursement of state GST and waiver of annual institutional maintenance charges. […]
Flipkart Wholesale launches B2B marketplace for kiranas, MSMEs
BENGALURU: E-commerce platform Flipkart on Wednesday launched operations of its digital business-to-business marketplace, Flipkart Wholesale, with an aim to connect local manufacturers with retailers and bring the entire wholesale marketplace at their fingertips. The platform is currently available for fashion retailers, especially footwear and apparel, in Gurugram, Delhi and Bengaluru, with plans to expand to […]
Airtel Payments Bank launches suraksha salary account solution for MSMEs
NEW DELHI: As India begins to open up following the COVID-19 lockdown, Airtel Payments Bank today announced the launch of ‘Suraksha Salary Account’ – an innovative salary account for the Micro, Small and Medium Enterprises (MSME). India’s MSME sector has over 60 million units and accounts for 29% of India’s GDP. These units employ large […]
India approves Rs 20,000 crore for stressed MSMEs, Rs 50,000 crore equity infusion
NEW DELHI: The government of India on Monday approved provisioning of Rs 20,000 crore as subordinate debt to provide equity support to stressed MSMEs and proposed equity infusion of Rs 50,000 crore for units through a Fund of Funds as part of the roadmap to implement the package announced for the sector. The Cabinet Committee […]
No fresh bankruptcy for 1 year, special insolvency framework for MSMEs
NEW DELHI: In a major relief for businesses, Finance Minister Nirmala Sitharaman on Sunday announced that no fresh insolvency case will be admitted for the next one year in view of the coronavirus pandemic. The government had earlier suspended any fresh admission for six months. Further, the government will also set up a special insolvency […]