Capri Global Capital Limited (CGCL), a Non-Banking Financial Company (NBFC), has entered into a Co-Lending agreement with the Union Bank of India (UBI) to offer MSMEs loans. Through this collaboration, CGCL and UBI aim to disburse MSME loans across 100+ touch points pan India. The loan disbursement under this arrangement would commence from December 2021.…
Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing and development of Micro, Small and Medium Enterprises (MSMEs), has entered into a collaboration with Google for having a social impact lending programme with financial assistance up to Rs.100 lakh at competitive interest rates targeted at micro enterprises. A company statement said, “This one-of-a-kind programme…
The World Bank’s Board of Executive Directors today approved a $500 million program to support the Government of India’s nationwide initiative to revitalize the MSME sector, which has been heavily impacted by the COVID-19 crisis. The program targets improvements in the performance of 555,000 MSMEs and is expected to mobilize financing of $15.5 billion, as part of the…
Edelweiss Retail Finance Limited (ERFL), an arm of the Edelweiss Group, announced strengthening of its existing Co-Lending partnership with Central Bank of India (CBoI), one of India’s largest commercial banks for Priority Sector Lending to MSMEs (Micro, Small and Medium Enterprises). The lenders recently signed a new MoU under RBI’s CLM, significantly expanding the portfolio…
Sudatta Mandal has taken charge as the Deputy Managing Director of Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing and development of Micro, Small & Medium Enterprises (MSMEs). The appointment is for a period of 3 years. Prior to this, Shri Mandal was the Chief General Manager…
Finance Minister Nirmala Sitharaman has made a provision of Rs 15,700 crore for the Ministry of Micro, Small and Medium Enterprises (MSME) sector in the Union Budget 2021-22, the ANI report states. “We have taken a number of steps to support the MSME sector in this budget. I have provided Rs 15,700 crore more than…
Flipkart Wholesale, the digital B2B marketplace of India’s homegrown Flipkart Group, announced the expansion of its operations into 12 new cities, enabling a one-stop digital marketplace solution for the retail ecosystem which will offer small businesses a wide selection of products at a significant value. Expanding with the Fashion category in these cities, Flipkart Wholesale…
Flipkart, India’s homegrown e-commerce marketplace, announced that it has entered into a strategic partnership with Sastodeal, a leading e-commerce company in Nepal, to initiate cross-border trade opportunities for its lakhs of sellers. Under the partnership, Sastodeal will host products from Flipkart marketplace sellers operating across the categories of babycare & kids, audio devices, men’s clothing,…
The coronavirus pandemic has not only affected human interaction but has brought the economy to a complete halt. The impact of the crisis can be seen taking a toll on several new-age startups and SMEs who have now resorted to cost-cutting measures. Companies like OYO, Swiggy, Meesho, Bounce, Udaan, and Paytm have either laid off…
In India about 1.2 crore people enter the workforce every year but the pace of job creation remains far below than what is needed, even though the economy is growing at over 7 percent.