ADB assures 2.2 billion USD loan to India

India had earlier approached Asian Development Bank and Asian Infrastructure Investment Bank for loans to fight against COVID-19. With India’s request, the ADB has assured a loan of 2.2 billion USD. Highlights The funds are to be used to help ..

Month: Current Affairs - April, 2020

SAFE Scheme: SIDBI provides working capital of Rs 1 crore to MSME

On April 8, 2020, the Small Industries Development Bank of India announced that it will provide emergency working capital of Rs 1 crore to small and medium enterprises. SAFE Scheme The SIDBI launched SAFE scheme on March 26, 2020. The ..

Month: Current Affairs - April, 2020

CII sets up COVID-19 Rehabilitation and Relief Fund

The Confederation of Indian Industries has set up funds to assist rehabilitation of micro, small and medium enterprises. The fund is to be raised from the members of the confederation. Highlights The MSMEs are the most affected sectors due to ..

Month: Current Affairs - March, 2020

Recapitalization of Regional Rural Banks approved by Union Cabinet

The Union Cabinet under the chairmanship of PM Modi on March 25, 2020, approved the recapitalization of regional rural banks (RRB) to improve the capital to risk weighted assets ratio. Highlights The Committee approved the continuation of recapitalization of RRBs. ..

Month: Current Affairs - March, 2020

Khatabook enters into strategic partnership with Dhoni

Business application Khatabook entered into a strategic partnership with former Indian cricket team captain Mahendra Singh Dhoni. M.S.Dhoni is set to invest in the firm and also serve as their brand ambassador. Khatabook is an application which helps MSMEs to ..

MSME ministry organises ‘Conference on Empowering Women Entrepreneurs’

The three-day conference called ‘Conference on Empowering Women Entrepreneurs’ has been organised by the Union Ministry of MSME in collaboration with various industry bodies like FICCI-flo, CII and India SME Forum, in New Delhi. Union MSME Minister Nitin Gadkari inaugurated ..

Solar Charkha Mission

The workings of the Solar Charkha Mission was recently discussed by the Union Minister for MSME in the Lok Sabha. About the Mission The Solar Charkha Mission was launched in 2018 by the Union Ministry of Micro, Small and Medium ..

Odisha signs MoU with HDFC to strengthen start-ups

The state government of Odisha recently signed a memorandum of understanding (MoU) with HDFC Bank, to strengthen its start-ups. Under the agreement signed between the Micro Small & Medium Enterprises (MSME) department of Odisha and the bank, HDFC would lend ..