22 January 2020

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Rs.300 Crore equity for NSIC

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Virbhadra SinghThe government has decided to infuse an equity of Rs 300 crore into National Small Industries Corporation (NSIC) in the next three years to provide marketing support to small-scale sector. NSIC, a PSU under the MSME Ministry, provides technical, financial and marketing help to small industry.

"In order to strengthen the NSIC and make it an apex organisation for coordination of marketing support programmes for MSMEs, the government has decided to provide an equity support of Rs 300 crore to NSIC in three years," said Virbhadra Singh, Minister forMicro, Small and Medium Enterprises (MSME) Ministry in a written reply to the Lok Sabha.

Financial Friend for SMEs

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Ramit AroraAn online small business platform that creates access to a competitive environment of lenders to empower the entrepreneur—Biz2Credit was founded in 2007. The online platform matches entrepreneurs with credit solutions based on their business profile and preferences in a safe and price transparent environment.

With over 10 years of experience in the financial services space, Ramit Arora, Co-Founder and President of Biz2Credit, heads the company’s operations and handles larger bank and client relationships.  He also oversees all strategic web initiatives for the company.

Intel invests in 10 Asian Companies including Two Indian Companies

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Intel Capital, Intel Corporation’s global investment and M&A organization, announced investments of $40 million in 10 Asian companies, including two from India, which reflects the rapid spread of technology innovation across the continent.

The Indian companies include Happiest Minds Technologies and TELiBrahma Convergent Communications.

Headquartered in Bangalore India, Happiest Minds is an innovative IT services company. It offers skills, IP and domain expertise across a set of focused areas which include IT Services, Software Product Engineering, Infrastructure Management, Security, Testing and Consulting.

Last Updated ( Thursday, 17 November 2011 12:06 )

SMEs are high potential segment for Axis Bank

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Axis Bank is eyeing to grow loans to the SME sector by 25 percent per annum over the next two years, notwithstanding concerns over their asset quality and a doubtful macroeconomic situation. 

'We will maintain the growth and will grow our SME book by 20 to 25 percent this year and the year after,” Axis Bank President, SME, Rajendra Adsul said. He said lending to SME constituted 15 percent of the bank's overall loan book, which stood at Rs 1.40 lakh crore as on September 30.

Ministry to give Incentive on VC funding for MSMEs

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The Ministry of MSME has been facilitating venture capital / risk capital assistance to micro, small and medium enterprises (MSMEs) by way of creation of separate funds for the purpose. Small Industries Development Bank of India (SIDBI)’s wholly owned subsidiary, ‘SIDBI Venture Capital Ltd. (SVCL)’ provides venture capital assistance to MSMEs under two funds - an exclusive Information Technology (IT) fund and an SME Growth Fund.

Gearing up for Financial Planning

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Chaitanya ShahI am sure you would have read with interest the entire case study, in my previous article, (The importance of Financial Planning & Management) of our friend Mr.X in printing business and his Accountant Mr.Y.

In this article, I propose to share with you critical aspects of Financial Planning & Management – particularly from a Small & Medium Enterprises / SME Owners’ point of view and why most of the time they painfully fail.

What do you think where Mr.X has gone wrong?

The importance of Financial Planning & Management

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Chaitanya ShahThe other day, I received a phone call from an Entrepreneur (Mr.X), having a business of printing wanting to discuss his financial difficulties and to seek advice on the proposed solution. I gave him an appointment two days later in the evening so that we can discuss in one sitting the entire situation.

He came at the appointed day and time with his Accountant (Mr.Y). We got down to the business.

Guidelines for lending to SMEs: RBI

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Seeking financial support is still considered to be a tough task for entrepreneurs. In order to streamline the processes involved in this, and in order to bring more clarity on the subject -- the Reserve Bank of India has set up guidelines for financial banks for lending loans to Small and Medium Enterprises in the country.

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