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Loans worth Rs. 20,900 crore sanctioned to MSMEs under 100-day outreach program.

November last year, Prime Minister Narendra Modi, announced various measures, including sanction of loans of up to Rs.1crore to SMEs in 59 minutes through special portal plus 2% interest benefaction or rebate for GST-registered MSMEs on additional loan of up to Rs.1crore, among various others. 100 Day outreach program was also started in November 2018,…

women MSME

Budget 2019 for women-owned MSMEs

Extending the Prime Minister’s say on gender equality and empowerment of women, the interim budget has bought in a delight for women-owned Micro Small and Medium Enterprises (MEMEs) by offering 3% tax benefit. 2% interest subvention for MSMEs for loan up to Rs 1crore is another thing to cheer upon. This budget is pro-economy and…

BHIM App Update — One-time Mandate to Schedule Payment for Future Date

Unified Payment Interface (UPI) transactions have become immensely popular. In 2018, its volume increased by 400%. The National Payments Corporation of India (NPCI) is focussed on updated the BHIM app and had recently launched UPI 2.0 with features such as increased transaction limits, overdraft account and more. The latest feature added to BHIM app is…

loan relief for MSME

Loan Relief Package For MSMEs By RBI

After initiative of the Government of providing loan approved in 59 minutes, here is a new year gift for small businesses. To benefit numerous micro, small and medium enterprises (MSMEs) suffering from debts, the Reserve Bank of India (RBI) has come up with a one-time restructuring grant. Wherein, banks and non-banking finance companies (NBFCs) will grant…

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