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SIDBI Launches New Loan Scheme ‘SPEED’ for MSMEs

Small Industrial Development Bank of India (SIDBI), to facilitate the flow of credit to Micro Small and Medium Enterprises (MSMEs) for machine purchase, has launched its new scheme. The scheme, known as SIDBI – Loan for Purchase of Equipment for Enterprise Development (SPEED), will help the small entrepreneurs purchase machinery from Original Equipment Manufacturers (OEMs)…

Government New Policy: Business Registration in 3 Days!

In coming days companies may take only three days to register with national agencies. Soon you may be able to complete all the registration formalities like Permanent Account Number (PAN), Tax Account Number (TAN), Goods and Service Tax (GST), Employee Provident Fund Organization (EPFO), and Employee State Insurance Corporation (ESIC) within three days with national…

Startup India

Startup Norms Revised – Angel Tax

February 19, 2019, the ministry of commerce and industry revised the taxation norms of start-ups.  This defining has come into the picture because of tax. Earlier, bases the taxation policy, rich individuals were stopped from laundering money via unlisted companies. But, the conflict began with the rising startups where investment by wealthy people could not…

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…

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