Synopsis
For enhancing credit to MSME entrepreneurs, the RBI Governor mentioned that in Feb 2021, the scheduled commercial banks were allowed to deduct credit disbursed for new MSME borrowers from their NDTL for calculation of CRR.
PTI
The MSME sector has been under considerable stress in the aftermath of Covid’s second wave which has severely hit their cash flows, survival and thrown them off gear.
In an effort to reduce the stress on small businesses and the MSME sector amid the unprecedented Covid surge gripping the nation, RBI Governor Shaktikanta Das on Wednesday announced a set of measures targeted at offering relief for such cash starved enterprises.
Although there is a plethora of low-code/no-code tools out there, technological expertise and familiarity still acts as a barrier to adoption for small business to create a website. Two entrepreneurs have created a startup that automatically builds and maintains business websites.
The e-commerce major said it is waiving 50% of the sell-on-amazon or referral fee from May 1-31 for a section of sellers and will reimburse storage fees and long-term storage fees charged for keeping sellers products at its warehouses for merchants based out of non-serviceable pin codes.
‘Covid-19 created headwinds but also gave a chance for innovation’
April 18, 2021
Mahendra Nerurkar, CEO, Amazon Pay India×
Amazon Pay India CEO shares the platform’s plans; 50 lakh-plus SMBs join in 15 months
In just about 15 months, and despite the Covid-19 headwinds, Amazon Pay India has enabled over 50 lakh small business owners and entrepreneurs to accept digital payments, its Chief Executive Officer, Mahendra Nerurkar, has said. The company recently rolled out the ‘Amazon Pay for Business’ mobile app to simplify acceptance of digital payments for small and medium businesses (SMBs).
“Our focus now is going to be how we can make the entire experience digital, not just the process of accepting payments, but even the on-boarding process. . I am very optimistic that the time taken for bringing new digital payment acceptance in the next 50 lakh merchants will be much shorter,”Nerurkar told