Resolution of Insolvency & Bankruptcy for MSME Entities Through IBC (AMENDMENT) Ordinance On April 4th 2021.
Now, Micro, Small and Medium Enterprises (MSMEs) can seek resolution for their stress through the pre-packaged process under the Insolvency and Bankruptcy Code (IBC).An ordinance is promulgated on April 4.
Many MSMEs have been impacted by the corona virus pandemic and experts opined that the latest amendment, which comes less than two weeks after the suspension of certain IBC provisions ended, is a welcome move. Read more
The rupee-denominated loan has been disbursed as part of ADB’s ongoing COVID-19 response, it said Monday. Northern Arc Capital will use it to extend loans proceeds and provide guarantees to financial institutions and individual borrowers Read More
The Finance Ministry on 11,Dec’20 said banks have sanctioned loans worth Rs 2,05,563 crore to about 81 lakh accounts under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector that was impacted by disruptions caused due to the coronavirus pandemic Read More
Uttar Pradesh Government on 3 Dec’20 disbursed loan to the tune of Rs 10390 crore to 354825 MSME units and tools kits to 5000 trained under the one distinct one product schemes during a special online loan mela organized. Read More
On 3 Dec,2020 Uttar Pradesh Government committed to providing all necessary assistance for development of (MSME) and traditional craftsmen as they form the base for realising the dream of a self-reliant India, an official release said here.There should be no scarcity of capital for youths who want to start a new venture, and loans are being provided to entrepreneurs as per their requirements, the chief minister said. Read More
YES Bank plans to disburse ₹10,000 crore of loans to retail and micro, small and medium enterprises by the end of third quarter and is looking to double its assets and liabilities in the segments by 2023. Read More
The eight categories of loans are MSME, Education, Housing, Consumer durable, Credit card, Automobile, Personal, and Consumption.On 27 Nov,2020 The Court directed, government to ensure that all steps be taken to implement its decision to forego interest on eight specified categories of loans paid up to ₹ 2 crore in view of the coronavirus pandemic Read More
The Government of India extended the scope of Credit Guarantee by raising upper debt limit to include 26 worst hit Sectors to revive companies post lockdown and protect employment. Read More
Nov 26, 2020
ICCI Bank to support SMEs (small and medium enterprises) and start-ups, has signed an MoU with HDFC Bank.According to the official release, through this association, Read More
Nov, 25 2020
The Government of India offered a ₹2.65-lakh-crore healing touch to various stressed sectors and individuals under Atmanirbhar Bharat 3.0 stimulus package. Read More