Synopsis
The alliance is enabling more entrepreneurs to use M1xchange, a platform created by the Trade Receivable Discounting System exchange.
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The exchange, which has buyers, financiers, enables MSMEs to get finances by converting their trade receivables into liquid funds on a without recourse basis.
BENGALURU: The Global Alliance for Mass Entrepreneurship (GAME) has taken up a three-pronged strategy to improve the financial stability for micro, small and medium enterprises, as these businesses face a working capital challenge due to delayed payments along with the pandemic-induced slowdown.
The alliance, which works with multiple stakeholders and industry bodies to address issues faced by solo, micro, small and medium businesses, is enabling more entrepreneurs to use M1xchange, a platform created by the Trade Receivable Discounting System (TReDS) exchange.
Govt plans to lease MSME technology centres to IITs, engineering colleges: Nitin Gadkari
The MSME Finance Week was a virtual event organised by the Global Alliance for Mass Entrepreneurship (GAME). A key reason for most MSMEs to turn into non-performing assets (NPAs) is delayed reconciliation of their receivables and bills. PTI December 17, 2020 / 04:22 PM IST
The MSME ministry plans to lease technology centres to engineering colleges, IITs, polytechnic colleges and industry associations with a good track record to encourage research and innovation, Union Minister Nitin Gadkari said on Wednesday. Delivering the keynote address at the MSME Finance Week, the minister said micro, small and medium enterprises are the backbone of the economy and there is a need to create employment using surplus resources.
MSME Minister Nitin Gadkari mulls award to businesses paying MSMEs on time financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
New Delhi: Niti Aayog CEO Amitabh Kant Saturday said India’s private credit-to-GDP ratio is the lowest among its global peers and the government is in the process of putting in place a framework for a credit push towards untapped segments.
Addressing a virtual event organised by the Global Alliance for Mass Entrepreneurship (GAME), Kant said credit scenario in India in recent years for a greater part has been seen as a drag on the economy.
“India’s private credit-to-GDP is the lowest among its global peers. Countries such as China and South Korea have had tremendous growth, massive improvement in their living standard on the back of high leverage.
SBI will prefer co-origination models of lending to MSMEs: Chairman business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.