With the COVID-19 second wave hitting hard, the country’s economic recovery has gone for a toss. During these difficult times, the Reserve Bank of India (RBI) has come to the rescue for several industries, aiming to mitigate the financial pressures, especially for the MSME sector, which has been struggling due to the unforeseen spike in…
Category: MSME
How Is Fintech Transforming The Digital Lending Services Across India?
“We’re witnessing the creative destruction of financial service, rearranging itself around the consumer. Who does this is in the most relevant, exciting way using data and digital, wins!” – Arvind Sankaran According to the Ernst and Young Global Fintech Adaptation Index 2019, India has increased its fintech adaptation growth to 87%. However, the adaptation…
Latest Credit Facilitation Scheme MSMEs Must Know
In 2020, the MSME sector employed over 110 million individuals in India single-handedly. In addition to providing employment, the sector also contributed 48% to exports and 30% to GDP, as per a report on Livemint. Hence, you can already see why the government leaves no stones unturned to boost the sector’s growth and strengthen its…
5 Steps To Apply For MSME Loan
MSME sector is one of the key drivers in the Indian economy that accelerates its growth. In 2020, it contributed about 45% of the country’s total industrial output and 40% to its exports. However, despite their significance in the current economic system, micro, small and medium enterprises still face a continual working capital crunch. So,…
Union Budget 2021: Extension On MSME Schemes
In light of the COVID-19 pandemic, the Finance Ministry had launched the Emergency Credit Line Guarantee Scheme (ECLGS) as a part of the Atma Nirbhar package on 12 November 2020 to fillip growth in India’s MSME sector. Under this scheme, the government proposed Rs. 20,000 crore debt provision and equity infusion worth Rs. 50,000 crore.…
How Are MSMEs Leveraging Bill Discounting Platforms Today?
It is a known fact that the MSME sector plays a key role in India’s economic landscape. Over the years, it has emerged as an engine of growth, contributing significantly to the country’s employment, GDP, and exports. On the downside, however, MSMEs navigate through several uncertainties in the course of their businesses, and a perennial…
MSME Delayed Payments: Bill Discounting Platform To End Cash Flow Crisis
Did you know an annual report on MSME in 2018-2019 stated that these enterprises contribute to at least 30% of the country’s output? The report also stated that the sector was responsible for creating 120 million jobs. But like most other business sectors, MSMEs also struggle with delayed payments. As a result, they often find…
MSME & Small Businesses – How Can They Scale-Up Business Online?
At a time when businesses with online presence are thriving, India’s MSME sector has failed to capitalise on this digital boom. The lack of progression has left these industries in a lurch. Insufficient capital is the biggest deterrent to digital transformation for such small-scale businesses. Micro, small and medium enterprises often face hurdles when it…
Top 5 Government Loan Schemes For Small Businesses In India
According to a Q1 2020 World Economy report, the International Monetary Fund has cited India as the fastest-growing economies in the world. A major part of this growth can be attributed to micro and small business houses and medium enterprises. In fact, SMEs are currently contributing about 40% of the nation’s GDP. To fuel further…
The Ripple Effect Of Coronavirus Across Functions In An Organisation
In early 2020, when the news of a novel virus outbreak hit the international headlines, the world couldn’t predict the intensity of the situation. Within weeks, the rapid spread and aggravation of the virus took the world by shock – countries were compelled to shut down all functions and employ nation-wide quarantine. What followed was…