Getting loans a tough ask for most MSMEs

Economic Times
June 05, 2020
By Aman Pramanik

Getting loans a tough ask for most MSMEs: GAME's Ravi Venkatesan
Venkatesan said most small firms are still “confused” about the government’s recent stimulus measures for the sector, such as the Rs 3 lakh-crore collateral-free loans and the Rs 10,000 core fund-of-funds for equity infusion into MSMEs.
Venkatesan said most small firms are still “confused” about the government’s recent stimulus measures for the sector, such as the Rs 3 lakh-cro ..In a survey report released on Thursday, AIMO said more than 70% of MSMEs would reduce headcount. There would be more clarity on the extent of job losses by August-end as most MSMEs are still uncertain about the return of their workers, it said.“Generally, there is a great sense of openness (on government’s part) as they are realising that they do not have all the answers. A lot of the action is happening at the state and local level,” Venkatesan said, adding that the Centre “has a gre ..MUMBAI: The government is mulling to make it mandatory for large companies to disclose their dues to the micro, small and medium enterprises to ensure that timely payments get made, Union Minister Nitin Gadkari said on Thursday.The MSME minister conceded that despite various interventions, including promising micro, small and medium firms that payments by the central government and its undertakings will be made within 45 days of delivery of goods or service, a satisfactory solution to ..Another scheme being considered is to partner with banks, wherein a bank pays the supplier in a specified time and starts collecting interest from the company which has received the goods or service, he said.Gadkari also said the government is looking at a specially created "MSME Stock Exchange", which will have such small businesses listed on it. The government will provide equity of 15 per cent to those businesses which list on the platform.The government will exit the  ..NEW DELHI: Union minister Nitin Gadkari on Thursday said foreign direct investment can be explored in the NBFC sector, which in return will prove to be a huge support to micro, small and medium enterprises (MSMEs). The minister opined that strengthening of non-banking lenders or NBFCs, state cooperative banks, district cooperative banks, credit societies, etc is required to extend support to MSMEs during this challenging time.Further, foreign direct investment (FDI) can be explored i ..

BENAGLURU: Most small and medium businesses in India are facing difficulty in getting loans as they are first-time borrowers financially excluded from the formal banking system, said Ravi Venkatesan, chairman of the Global Alliance for Mass Entrepreneurship (GAME), which works as an industry body for micro, small and medium enterprises (MSMEs).

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