PSBs disbursed Rs 4.91 lakh crore under the Customer Outreach Initiative in October and November 2019

In September 2019, the Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, announced the launched the Customer Outreach Initiative by the Public Sector Banks (PSBs) of India. The initiative aimed towards providing support to the needs of the economy ..

GoI new scheme: Rs 400 crores for testing MSME Defense products

The Government of India is planning to launch a new scheme to test defense products manufactured by MSMEs. In order to achieve this, the Ministry of Defence has allocated Rs 400 crores. Features of the scheme The test units that ..

Month: Current Affairs - November, 2019

India International Trade Fair Begins

The 39th India International Trade Fair is to begin in New Delhi on November 14, 2019. Around 25,000 people are expected to visit the fair. Theme: “Ease of Doing Business” The theme is inspired from India’s 63rd rank in the ..

Month: Current Affairs - November, 2019

Centre to introduce rating system for SMEs for easy loans

Centre is considering a proposal to introduce a rating system for small and medium enterprises (SME) to help them get credit easily. The announcement in this regard was Union Minister for Road Transport and Highways (MoRTH) Nitin Gadkari while addressing ..

Month: Current Affairs - September, 2019

GeM inks MoU with SIDBI for MSMEs

Government portal for public procurement GeM (Government e-marketplace) has inked MoU with Small Industries Development Bank of India (SIDBI) to boost MSME ecommerce sales. The MoU aims to enable promotion of special initiatives of GeM, such as Womaniya and Start-up ..

Month: Current Affairs - August, 2019

Manufacturing Sector in India

Manufacturing refers to the process of manufacturing industrial goods in a factory, MSME, home factory etc. The Manufacturing sector of India has gone through several phases of development since independence in 1947 till date. It expanded from the domestic manufacturing ..

Stressed Asset Fund for MSMEs

The U.K. Sinha committee constituted by the Reserve Bank of India (RBI) to study the problems faced by MSMEs has recommended constituting stressed asset fund for domestic micro, small and medium enterprises (MSMEs) as a relief to small businesses hurt ..

Govt Plan to Curb Special Steel Imports

The Ministry of Steel is working on a proposal to impose quality control regulations on tinplate and tin-free steel. The Ministry of Steel is planning to mandate foreign tinplate suppliers to adhere to BIS standards. Mandating impost to be in ..