User: gauravkhambhala Topic: smenews
Category: sme
Last updated: May 21 2018 19:58 IST RSS 2.0
 
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BoB launches MSME factory in Gurgaon to promote funding to small biz 21.5.2018 General News
State-owned Bank of Baroda (BoB) today launched its first integrated SME Loan Factory in Gurgaon to cater the needs of MSME segment in the NCR. This integrated SME Loan Factory will function as a One Stop Shop' for MSME customers with competent staff and simplified processes, BoB said in a statement. "It will provide end to end solutions viz. acquisition, processing, documentation, disbursement & relationship management etc," it said. On this occasion, the unit sanctioned 16 loans totalling Rs 189 crore and Rakesh Kumar Bhatia, General Manager Delhi zone distributed the sanction letters to the borrowers. To further boost MSME sector, BoB has also decided to centralize Government Sponsored Schemes loan processing at district level. Under the process, all the loans pertaining to PMMY (Pradhan Mantri Mudra Yojana), Stand-up India, PMEGP (Pradhan Mantri Employment Generation Programme), NULM (National Urban Livelihood Mission) and all other Government Schemes would be processed at a ..
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FinTech firms assisting banks with customer acquisition 20.5.2018 Sify Finance
[India], May 19 (ANI): In the recent past, FinTech firms have seen an enormous transformation, backed by the current age of digitisation and a boom in digital data. These firms have provided a
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Cloud computing driving productivity, profitability of SMBs 17.5.2018 DNA: Popular News
A study recently conducted by tech giant Microsoft Corporation and the Thought Arbitrage Research Institute (TARI) showed that cloud computing is driving productivity and profitability of small and medium businesses (SMBs). India has over 50 million SMBs that are contributing over 30 percent to India's gross domestic product (GDP) and employing over 117 million people. However, SMBs face many challenges, including limited access to resources and technology, which greatly limits their productivity and profitability. The asymmetry between SMBs and large enterprises can be as much as seven to eight times. According to the study on the 'Socio-Economic Impact of Cloud Adoption by SMBs in India', reduction in the investment cost (capital expenditure) on technology can lower entry barriers for SMBs for accessing technology, which then creates a positive multiplier effect. Productivity gains afforded by the cloud are strongly reflected in business metrics, such as improvement in operating expenses and better ...
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Gujarat halves prices of industrial plots up to 3,000 sq.mt 16.5.2018 All News-IANS Stories
The Gujarat government on Wednesday announced 50 per cent cut in prices of plots of up to 3,000 square metres offered by the Gujarat Industrial Development Corporation (GIDC), hoping to boost small and medium industries in the state.
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Traders' body says Flipkart-Walmart deal circumvents laws, to seek legal recourse 16.5.2018 DNA: Top News
Traders' body CAIT today alleged that the USD 16 billion Flipkart-Walmart deal circumvents laws, and said it will seek legal recourse on the matter. Confederation of All India Traders (CAIT), in a statement, urged the government to conduct close scrutiny of the deal that it claimed will have greater ramifications on retail trade and the economy. US retail giant Walmart Inc has announced acquisition of 77 per cent stake in Flipkart in its biggest takeover till date. The deal values the 11-year old Indian e-commerce firm at USD 20.8 billion. "CAIT has decided to challenge Walmart Flipkart deal since the deal is circumventing laws and will offend FDI policy once it is implemented and will create an uneven level playing field beside accomplishing hidden agenda of Walmart to reach out to offline trade through e-commerce way," it said. It added that its team of lawyers is studying the deal and very shortly, CAIT will move to appropriate authorities and seek legal recourse. When contacted, Flipkart did not ...
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CAIT says Flipkart-Walmart deal circumvents laws; may seek legal recourse 16.5.2018 General News
Traders' body CAIT today alleged that the USD 16 billion Flipkart-Walmart deal circumvents laws, and said it will seek legal recourse on the matter. Confederation of All India Traders (CAIT), in a statement, urged the government to conduct close scrutiny of the deal that it claimed will have greater ramifications on retail trade and the economy. US retail giant Walmart Inc has announced acquisition of 77 per cent stake in Flipkart in its biggest takeover till date. The deal values the 11-year old Indian e-commerce firm at USD 20.8 billion. "CAIT has decided to challenge Walmart Flipkart deal since the deal is circumventing laws and will offend FDI policy once it is implemented and will create an uneven level playing field beside accomplishing hidden agenda of Walmart to reach out to offline trade through e-commerce way," it said. It added that its team of lawyers is studying the deal and very shortly, CAIT will move to appropriate authorities and seek legal recourse. When contacted, ..
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Cloud computing driving productivity, profitability of SMBs 16.5.2018 General News
A study recently conducted by tech giant Microsoft Corporation and the Thought Arbitrage Research Institute (TARI) showed that cloud computing is driving productivity and profitability of small and medium businesses (SMBs).India has over 50 million SMBs that are contributing over 30 percent to India's gross domestic product (GDP) and employing over 117 million people. However, SMBs face many challenges, including limited access to resources and technology, which greatly limits their productivity and profitability. The asymmetry between SMBs and large enterprises can be as much as seven to eight times.According to the study on the 'Socio-Economic Impact of Cloud Adoption by SMBs in India', reduction in the investment cost (capital expenditure) on technology can lower entry barriers for SMBs for accessing technology, which then creates a positive multiplier effect. Productivity gains afforded by the cloud are strongly reflected in business metrics, such as improvement in operating ...
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Rubique appoints ex-Snapdeal CFO Anup Vikal on the advisory board 15.5.2018 Sify Finance
[India] May 15 (ANI): Leading online financial matchmaking platform, Rubique Technologies, has appointed former Snapdeal CFO, Anup Vikal on the advisory board, on Tuesday.
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Rubique appoints ex-Snapdeal CFO Anup Vikal on the advisory board 15.5.2018 General News
Leading online financial matchmaking platform, Rubique Technologies, has appointed former Snapdeal CFO, Anup Vikal on the advisory board, on Tuesday.This move is part of Rubique's aggressive growth plan for scaling up its business and march towards the market leadership position.As a strategic advisor, Anup will provide mentorship and guidance to Rubique's team for achieving business growth and scaling up to reach deeper business pockets in the country.Anup with his exceptional leadership skills and vast experience will direct Rubique in its critical transformational and scaling-up initiatives, by helping the brand undertake and complete the technology transformation, new lending projects, partnerships and profitability.He will be working closely with the senior leadership team on financial, internal controls and operations for Rubique.Apart from this, his role will also involve a critical element of investment advisory and support the board in building a robust growth strategy."Anup
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BSNL partners SAP to boost GST compliance in rural India 15.5.2018 All News-IANS Stories
State-owned telecom operator BSNL on Tuesday signed a memorandum of understanding (MoU) with enterprise solutions provider SAP to jointly offer innovative GST (goods and services tax) solutions to enterprises across India.
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Firms on NSE SME platform touch 150 mark; raise Rs 2,221-cr via IPOs 15.5.2018 General News
Spurred by investor interest, the number of listed firms on NSE's small and medium enterprise (SME) platform reached 150, raising Rs 2,221 crore via initial public offer. Two more firms -- E2E Network and 5 Core electronics -- will list on the exchange's Emerge platform next week and further traction is expected in the coming months as a slew of firms have lined-up their initial share-sale plans, an NSE spokesperson said. "We touched the 150-mark on our Emerge platform on May 11. These firms mopped-up a total of Rs 2,221 crore," he said. Of these, three have been now moved to the main board and there are 147 firms listed on the platform, with a market valuation of Rs 12,400 crore, he added. In comparison, as many as 245 firms got listed on BSE's SME platform and garnered a total of Rs 2,246 crore. Of these, 48 have been migrated to the main board, as per latest update available with the exchange. At present, there are 197 companies listed on the BSE's SME platform with a market ...
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CRISIL SME Tracker: Working capital woes continue to hobble leather MSEs 15.5.2018 Business Standard: Today
Delays in Goods and Services Tax refunds aggravated the problem, resulting in estimated working capital days of 125 days in the last fiscal
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Paytm to invest Rs 5,000 cr towards growing e-transactions 14.5.2018 General News
Digital payments major Paytm today said it will invest Rs 5,000 crore over the next three years as it looks to enhance bank transfer and other payments facilities for customers through its platform. The Alibaba and SoftBank-backed company said it has unified 'bank transfers' under a new 'My Payments' feature on its app that will allow users to transfer money from one bank account to another by using UPI and IMPS methods. Besides, customers can now also use the feature to make recurring, high value payment and other monthly expenses in an easy manner, Paytm said in a statement. "Paytm is aiming to process Rs 60,000 crore in monthly bank transfers alone by the end of this year... The company is also planning to invest Rs 5,000 crore in its core business, expecting to increase the number of transactions from 1 billion to 2 billion this year," Paytm said in a statement. It added that the company has been educating customers to link their bank accounts and using bank transfers to pay for ..
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Every govt considers taxing farm income: Niti Aayog 14.5.2018 Business Standard: News Now
Taxing the agriculture income has always been a politically sensitive issue and governments have refrained from doing so
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PSBs may re-approach Sebi for relaxing the rule on promoter equity 14.5.2018 Business Standard: News Now
Last year, they got a year's extension to meet the norm, till August 2018
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Instamojo eyes 6-fold rise in gross merchandise value at Rs 6,000 cr this fiscal 13.5.2018 General News
Instamojo, an on-demand payments and e-commerce platform for SMEs, is targeting a six-fold increase in its gross merchandise value at Rs 6,000 crore by the end of this fiscal, co-founder Sampad Swain said. "We have currently 4 lakh SMEs sellers on our platform. We can be profitable in the next 2-3 quarters. So, we are targeting gross merchandise value (GMV) of Rs 6,000 crore by end of 2018-19 from Rs 1,000 crore in the previous fiscal," Swain said in an interaction. He said the company is currently focusing on growth metric rather than break even, which is seen achievable by the end of this fiscal. Instamojo sees a lot of growth opportunities in facilitating small and medium enterprises (SMEs) since out of nearly 60 million small businesses in the country only 5 per cent are digitally active. The company is also looking at raising about Rs 100-120 crore this fiscal from sources like venture capitals, private equity to fund the growth, Swain said. Besides, the company is also planning .
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Simplified customs procedures planned for exports through India Post 12.5.2018 General News
The Customs Department is planning to introduce new simplified procedures for exports through India Post to cater to the small and medium enterprises, the government said on Saturday.
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Industries start evincing interest in defence sector 12.5.2018 Hindu: Diet & Nutrition
Exhibitions related to the defence sector held in Chennai and Coimbatore in the recent months seem to have triggered interest among the industries he
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Customs and Postal Department hold First ever Joint Conference to deliberate on streamlining imports and exports by post 12.5.2018 General News
Imports and exports by post are the 6th highest cited citizen grievances under CPGRAMs. Customs and Directorate General of Foreign Trade (DGFT) have worked together since a year to liberalise, reform and align laws relating to imports by Post. Since 2016, e-Commerce exports had been allowed through FPOs under MEIS incentives from the post offices at Chennai, Mumbai & Delhi. Now, Customs may be leading the reform race by permitting e-commerce exports through all FPOs, though without MEIS benefits for now. One of the major bottlenecks in the Postal System is the absence of Professional Logistics Companies which can facilitate SMEs going global through online presence and leaving postal logistics to third parties. In order to cater to the SMEs and what may come as a major boost to the Make in India program, Customs are proposing new simplified procedures for exports through India Post. In a progressive move, Amazon and DHL had been invited for making presentations on ...
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Indostar Capital Finance IPO subscribed 6.80 times 12.5.2018 General News
Receives bids for 15.36 crore shares
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