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Canara Bank announces 3 loan schemes amid fight against coronavirus

Read more about Canara Bank announces 3 loan schemes amid fight against coronavirus on Business Standard. State-run Canara Bank on Friday announced three loan schemes as part of the fight against the pandemic under which it will offer healthcare credit, business and personal loan to individuals

State lays out plan to help MSMEs

State lays out plan to help MSMEs Updated: Updated: Validity of statutory licences will be extended till December Share Article Validity of statutory licences will be extended till December Tamil Nadu Chief Minister M.K. Stalin on Tuesday announced a few measures to help the micro, small and medium enterprises overcome some of the challenges posed by the lockdown. “At the meeting, the industrial sector raised certain concerns. The Chief Minister was sympathetic towards the concerns, and has announced these measures,” MSME Secretary Mangat Ram Sharma told The Hindu. He said the State government would immediately release 60% (₹168 crore) of the ₹280 crore sanctioned for granting capital subsidies to these units this fiscal. All eligible units would get the capital subsidy. The government extended the timeline for registration of the memorandum of deposit without penalty till December to help these units get bank loans. The window was earlier extended until March this

COVID19 & MSMEs: The Black Hole Called Data

 0 COVID-19 raised its ugly head again leaving the micro, small and medium enterprises (MSMEs) worse off than before the first attack. When Jayant Sinha, Union minister for external affairs mentioned in March 2021 that not enough has been done for the MSME sector, it requires a deeper study. The only good thing that happened to the sector is the change in the definition of the twin criteria of investments and turnover.    There is a font-page ad of Amazon in The Hindu dated 14th April that boasts that 2.5 million MSMEs out of the targeted 10 million are digitised! Nobody has a clue about the share of the manufacturing sector in such digitisation. The government of India (GoI) has one dependable clue to show up that figure–namely, the goods and services tax (GST). But this figure also does not indicate the manufacturing MSME s contribution! Some 300,000 jobs are services sector and not in manufacturing where there is job loss. 

Big corporates, government measures can help MSMEs fight pandemic, say experts

Big corporates, government measures can help MSMEs fight pandemic, say experts April 20, 2021 Large industries can look at diverting their annual CSR funds for the survival of micro and small units   -  The Hindu Large industries can look at diverting their annual CSR funds for the survival of micro and small units   -  The Hindu× Second Covid wave is creating extreme discomfort to small businesses Compassionate capitalism by the big industries along with government measures can help MSMEs overcome the pandemic-induced crisis, point out industry experts. As India has been witnessing the second Covid wave, MSMEs (micro, small and medium enterprises) have already started to press the panic buttons over the possible business disruptions due to restrictions and partial lockdowns announced in various parts of the country.

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