india

Small and medium units face new challenge

Several entrepreneurs are unable to pay their employees festival advance and bonus With the festive season drawing near, businessmen and entrepreneurs in the Micro Small and Medium Enterprises (MSME) sector are facing a new challenge: paying their employees festival advance and bonus. With trade yet to revive and reach pre-COVID-19 levels, businessmen are worried. While […]

india

MSME Act to be amended

The State Cabinet that met here on Wednesday recommended to the Governor to promulgate an Ordinance for amendment of the Kerala MSME Facilitation Act 2019 to simplify the process of granting licence for new ventures. The proposed legislation seeks to provide all necessary clearances for MSMEs (Micro, Small and Medium Enterprises) within a week while […]

india

PM Modi tells bank chiefs to boost MSME loans

Prime Minister Narendra Modi met heads of top private and public sector banks and non-bank lenders on Wednesday and urged them to scale up lending to micro, small and medium enterprises (MSMEs) and agriculture amid the disruption caused by the coronavirus pandemic. In a video conference that lasted for over three hours, lenders presented a […]

india

Assam MSME ordinance won’t affect indigenous land rights: govt

On Friday, state Industries and Commerce Minister Chandra Mohan Patowary said in a statement, “This Ordinance will not affect the land rights of indigenous people of Assam as protected by the Assam Agricultural Land (Regulation of Reclassifications and Transfer for Non-Agricultural Purpose) Act 2015. T Days after an ordinance in Assam, which allowed anyone to […]

india

Is anyone using the loan moratorium?

‘Banks have to be braver, willing to take more risks and give confidence to the customer,’ observes Joydeep Ghosh. Moratorium has been a keyword in the government’s announcements after the COVID-19 crisis broke out. Retail and corporate borrowers can avail of it for six months, and more importantly, micro, small and medium enterprises (MSMEs) will […]

celebrity

How this town persuaded migrant workers to stay

‘It is because we treat them as our own people, and there is no difference between owners and workers here.’ The plywood industry in Perumbavoor in Kerala is relatively new, but in a short period of time it has become the largest cluster in India. This small town is said to do business worth Rs […]

celebrity

This business lost Rs 9,000 crores in lockdown!

‘By the time the goods that were sent from December onwards reached stores in Europe, they became dead inventory as the stores there were closed by then.’‘Those that were in the warehouse there also became dead inventory. Those that reached the ports there also became dead inventory.’‘And what Tirupur produced in March is still here, […]