Govts full support to start-ups, created a Rs.10k cr corpus: Prabhu
The Dollar Business Bureau Suresh Prabhu, who assumed the charge as Commerce and Industries Minister this week, assured the Government’s support to start-ups and help in eliminating hurdles for promoting the sector in India. In a video message via Twitter to the promising entrepreneurs on Wednesday, the minister assured that the Government has set up a Rs.10,000 crore corpus and has taken a decision to provide guarantees to the amount of Rs.2,000 crore. The Government is in the course of creating a credit guarantee fund of Rs.2,000 crore with the purpose of giving funds to start-ups. “We are committed to promoting start-ups in India. We are committed to removing obstacles, and help you move forward. You will get tailwinds. Earlier you were getting headwinds,” ...
Government makes it easier for MSMEs to get loans
The Dollar Business Bureau Based on the recommendations made by the Prime Minister’s Task Force report on Micro, Small and Medium Enterprises (MSME), the Reserve Bank of India (RBI) has asked the banks to achieve 20% year-on-year (Y0Y) target in credit to the MSMEs. This was informed by Giriraj Singh, Minister of State for MSMEs, in his written reply to the Rajya Sabha on Thursday, according to an official release. The RBI also advised the banks to achieve 10% annual growth in number of micro enterprise accounts and also to allocate 60% of the MSE advances to the micro enterprises. Besides this, the Indian government’s Credit Guarantee Fund Scheme for Micro and Small Enterprises will also facilitate the easy ...
