MSME Credit

State focus paper released in State Credit Seminar, maximum credit potential in agriculture and MSME sectors

To facilitate credit accessibility, Union Finance Minister Nirmala Sitharaman introduced a customised credit card scheme for micro enterprises registered on the Udyam portal

The deputy governor highlighted that despite their importance, MSMEs often struggle to secure timely and adequate credit

"Our cost of deposits is one of the most reasonable in the industry, and our yield on advances is in the 10.08 percent range "

Waives of financial statement requirement for SME loans below Rs 50 lakh

In India, shift to private credit, Nishu said, started before the Covid era, driven by regulatory reforms including the Insolvency and Bankruptcy code, Real Estate Regulatory Authority (RERA) Act etc.

Providing critical information about the terms of the loan agreement, including the all-inclusive interest cost, will significantly benefit borrowers in making informed decisions

With a 253 per cent jump in the net profit in the third quarter, the bottom line of the bank in the three-quarters of FY24 crossed Rs 5,230 crore

The government has accepted more than 10,000 claims of MSMEs involving refunds worth Rs 256 crore under a dispute resolution scheme Vivad se Vishwas-I. Under the scheme, MSMEs could claim a refund of 95 per cent of performance or bid security and liquidated damages forfeited by government departments and public sector entities during the COVID-19 period. The scheme, announced in 2023-24 Budget, opened on April 17 and the last date for submission of claims for relief on the GeM portal was July 31. "In a major relief to the Micro, Small and Medium Enterprises (MSMEs), various Ministries/Departments of the Government of India have accepted more than 10,000 claims of MSMEs under Vivad se Vishwas -I scheme aimed at providing relief to MSMEs for the COVID-19 Pandemic period. This has led to grant of more than Rs 256 crore to MSMEs and increased flow of bank credit through freeing up of guarantees," a finance ministry statement said. The highest relief of Rs 116.47 crore has been granted

India is home to 64 million micro, small and medium enterprises (MSMEs), contributing 30 per cent of the nation's GDP

Axis Bank will offer Kisan Credit Card (KCC) and unsecured micro, small and medium enterprises (MSME) loans to customers, powered by the PTPFC platform

The housing segment showed a steady growth at 14.3 per cent in April 2023 against 13.7 per cent, RBI said

A report by NeoGrowth looks at the data from around 3,000 retail customers and 1,000 retail sellers across the country

MSMEs are the backbone of the economy, and banks should support them and startups in the northeast, Minister of Development for the North Eastern Region G Kishan Reddy said on Friday. Addressing the 'Northeast Banking Conclave' here, Reddy said the northeastern region has unique challenges, which require innovative practical solutions. Stressing that the connectivity and transport infrastructure have improved in the region, he said all state capitals should be connected by Railways by 2024. There has been an increase of 113 per cent in air traffic through 17 airports in the region, including 3 international airports. Speaking at the event, Minister of State for Finance Bhagwat Karad said the Prime Minister has decided to improve the per capita income of the people of the northeastern region. Government schemes for financial inclusion are doing well and there is an increase in credit growth by 85 per cent. He asked bankers to improve banking infrastructure in the region and also o

The highest drop was in the private bank segment, from 2.8 per cent in Q2FY22 to 1.5 per cent in FY23-Q2

New scheme likely to lower cost of credit by 1%, allow MSMEs to avail addl collateral free credit guarantee of Rs 2 trn

The disbursals have been led by increased penetration as the approval rate for medium risk loans remained stagnant between FY21 and FY22: MSME Lending Report 2022

The Meghalaya government on Friday signed an MoU with the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGFTMSE) to help facilitate flow of credit to MSME borrowers. The MoU between the state Finance department and the CGTMSE under the Ministry of MSME was signed to implement the 'Meghalaya Credit Guarantee Scheme', a statement issued by the department said. This MoU will strengthen the credit delivery system and facilitate flow of credit to the MSE sector, it added. Meghalaya Chief Minister Conrad Sangma who was present during the signing of the MoU emphasized that such interventions by the state government is part of the overall objective of encouraging and promoting entrepreneurship in the state. Currently, the loans taken by MSME borrowers are covered under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) against a risk coverage of 75 per cent of the loan amount under various MSME schemes. However, banks still perceive their portion of risk a

Goyal's comments come after Union Finance Minister, Nirmala Sitharaman, recently asked India Inc what is stopping them from investing

'Mounting repayment pressure for some borrowers amid India's interest rate hikes, particularly for micro, small and medium-sized enterprises, will test banks' loan underwriting quality'