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MSME


Govt. update on Package for MSME Sector

The Central Government has announced Bailout Package for MSMESs Sector vide Press Release ID: 1846944 dated 01st August, 2022 and has operationalised AatmaNirbhar Bharat Package for MSMEs to cope up with the COVID-19 crisis. The Ministry has operationalised Emergency Credit Line Guarantee Scheme (ECLGS), Credit Guarantee Scheme for Subordinate Debt (CGSSD) and Self Reliant India (SRI) fund under AatmaNirbhar Bharat package. This information is provided by Minister of State for Micro Small and..

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All about MSME Loan

What is Micro, Small and Medium Enterprise? Micro, Small and Medium Enterprise are those enterprises which are engaged in manufacturing and enterprises engaged in providing services and meet the following criteria:   Micro Investment in Plant and Machinery or Equipment: Not more than Rs.1 crore and Annual Turnover ; not more than Rs. 5 crore Small Investment in Plant and Machinery or Equipmen..

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MSME cash flow challenges and how to tackle them

Nearly 40% of India's GDP comes from its 50 million small and medium enterprises (MSMEs). Additionally, these companies employ the most significant number of people in the country. Statistics like these are impressive, but they are by no means conclusive. Banks are still not used by a large number of businesses. There are many challenges that small businesses face in financing and cash flow. The MSMEs have gradually stolen the limelight and ensured an equitable distribution of national we..

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Centre approves new guidelines to promote MSMEs in North Eastern Region and Sikkim

New Guidelines for Central Sector Scheme "Promotion of MSMEs in North Eastern Region and Sikkim" for enhancing productivity and competitiveness The Central Government has approved New Guidelines of Central Sector Scheme "Promotion of MSMEs in North Eastern Region and Sikkim". The scheme will be implemented during 15th Finance Commission Cycle (2021-22 to 2025-26). The Scheme is envisaged to provide financial support for enhancing the productivity and competitiveness as wel..

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ZED Certification Scheme launched for MSMEs to provide a roadmap to global competitiveness

Shri Narayan Rane launches MSME Sustainable (ZED) Certification Scheme, interacts with Principal Secretaries of States/UTs on synergizing efforts, developing focused approach to prepare MSME ecosystem for the future. Union Minister for Micro, Small and Medium Enterprises Shri Narayan Rane  today launched the MSME Sustainable (ZED) Certification Scheme. In his address, the Minister said that ZED has the potential to become a national movement and that it aims to provide a roadmap to ..

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GoI took a number of initiatives under Atmanirbhar in MSMEs Sector

Atmanirbhar in MSMEs Sector The Government has taken a number of initiatives under the Aatma Nirbhar Bharat Abhiyan to mitigate the negative impact of Covid-19 on small businesses, including MSMEs, in the country. Some of them are:   Rs. 20,000 crore Subordinate Debt for stressed MSMEs.   Rs.3 lakh crores Emergency Credit Line Guarantee Scheme (ECLGS) for   Businesses, including MSMEs (which has subsequently been increased to Rs. 5 lakh crore, as announced in Budge..

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MSMEs Are Growth Accelerators Making Significant Contribution To GDP: Shri Narayan Rane

Shri Narayan Rane says MSMEs are growth accelerators making a significant contribution to GDP and need to be strengthened Union Minister for MSME Shri Narayan Rane has said MSMEs are growth accelerators making a significant contribution to GDP and need to be strengthened. Inaugurating two-day mega summit on MSME competitiveness and growth organized by Ministry of Micro, Small and Medium Enterprises (MSME) and Entrepreneurship Development Institute of India (EDII) he emphasized upon the signif..

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More than 95% MSMEs benefitted under ECLGS

As informed by the National Credit Guarantee Trustee Company Limited, the agency which operates the Emergency Credit Line Guarantee Scheme (ECLGS), as on 11.3.2022, a total of 117.87 lakh businesses have been supported with 100% guaranteed collateral free loans under ECLGS of which about 95.21% were MSMEs. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha today. The Minister stated that the ECLGS was launched ..

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MSME ECLGS Scheme Further Extended till 31st March 2023

The Finance Ministry of India launched the Emergency Credit Line Guarantee Scheme (ECLGS) in May 2020 (13.05.2020_to help the pandemic hit economy. EMERGENCY CREDIT LINE GUARANTEE SCHEME (ECLGS) launched by Government of India as a special scheme in view of COVID-19 crisis to provide 100% guarantee coverage to Banks and NBFCs to enable them to extend emergency credit facilities to Business Enterprises / MSMEs in view of COVID-19 to meet their additional term loan/additional working capital requi..

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MSME Innovative Scheme launched to promote and support untapped creativity of MSME sector

Shri Narayan Rane launches MSME Innovative Scheme (Incubation, Design and IPR) & MSME IDEA HACKATHON 2022 under MSME Champions Scheme Union Minister for MSME Shri Narayan Rane today launched the MSME Innovative Scheme (Incubation, Design and IPR) along with the MSME IDEA HACKATHON 2022. Speaking on the occasion Shri Rane said MSMEs have an important role to play in Atmanirbhar Bharat. He said these schemes will help entrepreneurs in developing new ventures. MoS,MSME Shri B..

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Ministry of MSME celebrates Iconic Week from 28th Feb to 6th March 2022

Ministry of MSME Celebrates "Iconic Week" from 28.02.2022 - 6.03.2022 under the Azadi ka Amrit Mahotsav Initiative 'Azadi ka Amrit Mahotsav' is an initiative of the Government of India to celebrate and commemorate 75 years of progressive India and the glorious history of its people, culture and achievements. As part of this initiative, Ministry of Micro, Small and Medium Enterprises is celebrating its iconic week under ‘Azadi ka Amrit Mahosav’ initiativ..

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MSME Schemes applicability extended to service sector

Secretary, MSME chairs MSME Conclave for National SC/ST Hub at Sindhudurg, Maharashtra MSME schemes earlier applicable to manufacturing industries, have been extended to service sector as well: Secretary, MSME Secretary, Ministry of Micro, Small & Medium Enterprises, B.B Swain chaired MSME Conclave for National SC/ST Hub at Sindhudurg in Maharashtra today. The MSME- NSSH Conclave was organized as part of the 2-Day MSME Conclave by the Ministry of MSME. The Conclave was inaugurated by&n..

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Union MSME Minister launches Union Bank MSME RuPay Credit Card

Union Minister for Micro, Small & Medium Enterprises, Shri Narayan Rane today launched the Union MSME RuPay Credit Card of Union Bank of India in Sindhudurg at the two day MSME Conclave being held in the district.  The card is being offered by Union Bank of India in association with National Payments Corporation of India (NPCI).  It provides a simplified payment mechanism to MSMEs to meet their business-related operational expenses. The RuPay Card offers benef..

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Multiple interventions by GoI have benefitted not only the large Industries but also the MSMEs, says Shri Piyush Goyal

Multiple interventions by the Government to enhance Local Value Addition have benefitted not only the large Industries but also the MSMEs, says Shri Piyush Goyal Government efforts leading to greater employment generation in the country: Shri Goyal Shri Piyush Goyal chairs SCALE Committee meeting Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal has said the Industry has responded well to the multiple interve..

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RBI issues clarification on new definition of MSMEs

RBI/2021-2022/161 FIDD.MSME & NFS.BC.No.16/06.02.31/2021-22 February 18, 2022 The Chairman/ Managing Director/Chief Executive Officer All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks /All-India Financial Institutions/ All Non-Banking Financial Companies Dear Sir/Madam, New Definition of Micro, Small and Medium Enterprises - Clar..

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GoI announced a series of measures to provide assistance to MSMEs sector

As per the information available in the SAMADHAN portal, as on 03.02.2022, the total outstanding payments to the Micro and Small Sector since 01.04.2020  is Rs 11,741.21 crore.  Ministry of MSME has notified the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, which provides for setting up of Micro & Small Enterprises Facilitation Councils (MSEFCs) in the States/UTs to deal with cases of delayed payments of the Micro and Small Enterprises (MSEs). Ministry has a..

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MSMEs clusters development programme

Under Micro and Small Enterprises - Cluster Development Programme (MSE-CDP), setting up of Common Facility Centre (CFC) in a cluster is supported. MSE-CDP is a demand driven scheme. Under the scheme, 36 projects of CFCs in various clusters (including 07 in Karnataka) have been developed all over country during the last three years (i.e. financial year 2018-19 to 2020-21). The State/UT-wise details are enclosed. The turnover, production and exports of the cluster depend upon various factors li..

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MSME extends validity of the existing enterprises till 31st March 2022

Ministry of Micro, Small and Medium Enterprises (MSME), vide Gazette Notification no. CG-DL-E-19012022-232763 dated 19.01.2022 has amended the notification of Government of India, Ministry of Micro, Small and Medium Enterprises number S.O. 2119 (E), dated the 26th June, 2020. MSME extends date of validity of existing enterprises registered prior to June 30, 2020. Through this notification, Ministry has provided amendment in Para 7 which deals with: Registration of existing enterprises. Pos..

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MSMEs | Banks & Financial institutions to be more discerning towards genuine exporters

MSME units are together capable of constituting a complete supply chain: MSME Secretary There is tremendous potential for Indian engineering MSMEs to be integrated into the Global Value Chain due to their manufacturing cost advantage, said Mr B. B. Swain, Secretary, Ministry of MSME. Addressing the inaugural session of MSME Conclave organized by EEPC India yesterday, Mr Swain said that for the MSMEs to achieve high growth the two most significant interventions required are related to credit a..

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Shri Piyush Goyal asked industry bodies to prepay MSMEs for their services to boost employment and growth

Shri Piyush Goyal appeals to the industry to prepay MSMEs for their services to boost employment and growth Shri Piyush Goyal asks Industry to give inputs for further decriminalization of rules Government committed to big infrastructure and capital expenditure to support businesses activities - Shri Goyal Industry should use Single Window for businesses processes and approvals - Shri Goyal Shri Piyush Goyal asks the industry to lend guidance for transformational exports growth beyond..

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