New norms of performance in Credit Rating Scheme
The Dollar Business Bureau The Indian government has approved the new norms of Performance of MSMEs in the Credit Rating Scheme. These guidelines are sanctioned to enhance the credibility for the borrowers as well as banks. As per the new guidelines, the Micro, Small and Medium Enterprises (MSMEs) shall pay a fee to credit rating agencies based on their turnover. The credit rating agency fee in turn has been further classified under three slabs based on the turnover. The MSME Ministry will reimburse 75% of the rating agency fee to a maximum of Rs.15,000 for a turnover up to Rs.50 lakh, to a maximum of Rs.30,000 for a turnover between Rs.50 lakh and Rs.2 crore, and to a maximum of Rs.40,000 for MSMEs ...
National Small Industries Corporation plans to achieve 15-20% growth rate
The Dollar Business Bureau The National Small Industries Corporation (NSIC) on March 30, 2015, signed a Memorandum of Cooperation (MoC) with the Ministry of Micro, Small and Medium Enterprises (MSMEs), for the year 2015-16. Under this MoC, the NSIC aims to provide enhanced services like Financial, Marketing, Technology Services and other support services schemes for MSMEs in the country. The Corporation further projects to achieve a growth rate of 15%-20% under it’s the operational performance during the year 2015-16. The key elements under the MoC include distribution of raw material to the SMEs, preparing the SMEs to avail enhanced benefits, development of clusters, among others. According to the MoC, the Corporation is aiming at distributing the raw material to the ...
MSMEs incubation centres to promote entrepreneurship in agri-industry
The Dollar Business Bureau The Union Minister for Micro, Small and Medium Enterprises (MSME), Kalraj Mishra, on Wednesday, launched a ‘Scheme for promoting Innovation, Entrepreneurship and Agro Industry’. Speaking on the occasion, the Union Minister said that the scheme was aimed at setting up network and incubation centres for the promotion of start-ups for innovation and entrepreneurship in the agro-industry. This scheme has got its origin in the announcement made by the Union Finance Minister, Arun Jaitley in his budget speech, to set up a ‘Technology Centre Network’ to promote Innovation, Entrepreneurship and Agro Industry with a fund of Rs 200 crore. Referring to the budget speech, Kalraj Mishra also highlighted about the need for implementation of a programme to ...
