Msme Credit

Karur Vysya Bank will not exit corporate business, says B Ramesh Babu

"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 "

SBI launches 'SME Digital Business Loans', to sanction loans in 45 minutes

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

Vacuum for Indian MSMEs seeking growth finance: Nishu Malhotra, ADM Capital

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.

Monetary policy review: Key fact statement must for retail, MSME loans

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

Punjab National Bank raises profit guidance to Rs 7,500 crore for FY24

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

Govt accepts over 10,000 MSME claims worth Rs 256 crore for refunds

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

Alternate financing poised to capitalise on $570 bn SME credit opportunity

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

Axis Bank launches two products with RBI Innovation Hub to extend lending

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

Pace of credit to MSMEs moderates in April: Reserve Bank of India

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

70% of MSMEs believe more than 50% of customers will pay using UPI

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

Banks need to support MSMEs, startups in northeast: DoNER min Reddy

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

MSME loan delinquencies dip to 3% by September, shows CIBIL data

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

Union Budget 2023: Revamped MSME credit guarantee scheme to start on Apr 1

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

Higher penetration doubles quarterly MSME loan disbursals since 2020: Rpt

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

Meghalaya inks MoU with Credit Guarantee Fund Trust for MSME borrowers

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

Invest in India story, MSME sector must be promoted: Goyal to industry

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

Banks' asset-quality risk to be moderate after RBI rate hike: Fitch Ratings

'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'

Union Bank, NPCI launch credit card for MSME borrowers to meet biz expenses

Additionally, they will also be benefitted in the form of accidental insurance coverage of up to Rs 10 lakh, domestic airport lounge access of two times per quarter, and other rewards

Budget 2022: MSMEs may get credit guarantee, better deal in IBC cases

Banks and MSME industry representatives have sought support for the sector in the line of ECLGS, a measure introduced early in the pandemic

Budget 2022: MSMEs may get credit guarantee, better deal in IBC cases

Banks and MSME industry representatives have sought support for the sector in the line of ECLGS, a measure introduced early in the pandemic