The document summarizes several key government schemes for funding businesses in India, including:
1) Pradhan Mantri Mudra Yojana (PMMY) which provides loans up to Rs. 10 lakh to small businesses through categories like Shishu, Kishore, and Tarun.
2) Stand-Up India which provides bank loans between Rs. 10 lakh and Rs. 1 crore with at least one loan going to an SC/ST or woman entrepreneur.
3) PSB Loans in 59 Minutes which allows startup businesses and MSMEs to access loans up to Rs. 5 crore through a digital portal in just 59 minutes.
4) National Small Industries
MUDRA in a short span of about 7 months has been showing impressive performance in terms of statistics revealed. However, the impact on the ground appears to be missing. There are some unanswered questions which this presentation lists out and some suggestions on how and what needs to be done.
On 06 Jan 2016 ,the Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, approved the “Stand Up India Scheme” to promote entrepreneurship among SC/ST and Women entrepreneurs. The Scheme is intended to facilitate at least two such projects per bank branch, on an average one for eachcategory of entrepreneur. It is expected to benefit atleast 2.5 lakh borrowers.
The expected date of reaching the target of at least 2.5 lakh approvals is 36 months from the launch of the Scheme.
MUDRA in a short span of about 7 months has been showing impressive performance in terms of statistics revealed. However, the impact on the ground appears to be missing. There are some unanswered questions which this presentation lists out and some suggestions on how and what needs to be done.
On 06 Jan 2016 ,the Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, approved the “Stand Up India Scheme” to promote entrepreneurship among SC/ST and Women entrepreneurs. The Scheme is intended to facilitate at least two such projects per bank branch, on an average one for eachcategory of entrepreneur. It is expected to benefit atleast 2.5 lakh borrowers.
The expected date of reaching the target of at least 2.5 lakh approvals is 36 months from the launch of the Scheme.
Micro, small and medium enterprises is a vibrant, dynamic and fastest growing sector of Indian economy in complementary with the large industries. They are enormously contributing towards the socio-economic development of the country. MUDRA is an effort to ‘fund the unfunded’ like how microfinance has been to ‘bank the unbanked’. The paper aims to understand the Mudra yojana and its significance; to examine the progress of Mudra and to analyse the pattern and amount of loans advanced to Tamil Nadu. To conclude this PMMY which is a good initiative from the part of government to encourage entrepreneurs is going to bring about a dramatic change in the MSME sector.
Small Scale Industries play a very vital role in the national economy. They help in generating employment with minimum
possible investment and play a very vital role in promoting exports. Therefore, the Government has announced various schemes and policies for the promotion of Small Scale Industries to ensure that control over production is widely distributed. As per the present definition, an industry having investment of upto Rs. 1 crore in plant and machinery is defined as Small Scale Industry.
• The 'District Industries Centre' (DICs) programme was started by the central government in 1978 with the objective of providing a focal point for promoting small, tiny, cottage and village industries in a particular area and to make available to them all necessary services and facilities at one place.
• The District Industries Centre is the institution at the District level, which provides all the services and support facilities to the entrepreneur for setting up Micro, Small and Medium Enterprises. This included identification of suitable schemes, preparation of feasibility reports, arrangements for credit facilities, machinery and equipments, provision of raw materials and development of industrial clusters etc.
• Established in 1940
• Vision is to be primary driving force of commercially sustainable industrial development .
• Industrial development Corporations are companies or agencies in India which were established at various times under the policy of Government of India for the promotion of small - scale industries.
• A Central Industrial Finance corporation was set up under the industrial Finance corporations Act, 1948 in order to provide medium and long term credit to industrial undertakings which fall outside normal activities of commercial banks.
• The State governments expressed their desire that similar corporations be set up in states to supplement the work of the Industrial financial corporation. State governments also expressed that the State corporations be established under a special statue in order to make it possible to incorporate in the constitutions necessary provisions in regard to majority control by the government, guaranteed by the State government in regard to the payment principal. In order to implement the views Expressed by the State governments the State Financial Corporation bill was introduced in the Parliament.
• Small Industries Development Bank of India (SIDBI), set up on April 2, 1990 under an Act of Indian Parliament, is the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector and for Co-ordination of the functions of the institutions engaged in similar activities.
• It was incorporated initially as a wholly owned subsidiary of Industrial Development Bank of India.
• The purpose is to provide refinance facilities and short term lending to industries. Its headquarters is in Lucknow.
• Former Deputy Managing Director is Shri N.K. Maini. Dr. Kshatrapati Shivaji is the new Chairman and Managing Director of the organisation.
Benefits for MSME under "Aatmanirbhar Bharat Abhiyan"Priyank Shah
Our FM Smt. Nirmala Sitharamanji announced series of stimulus package under the vision of Aatmanirbhar Bharat Abhiyan of PM Shri Narendra Modiji. I have highlighted here some of the benefits offered to MSMEs in the said package to strengthen their growth and make them globally competitive.
CGTMSE is a scheme launched by the Government of India in 2006. The scheme provides collateral-free loan to Micro and Small Enterprises (MSEs) which helps them in getting access to finance from banks. The main aim of this scheme is to promote entrepreneurship and employment generation. In this article, we will discuss the various benefits of CGTMSE for MSMEs in India.
Micro, small and medium enterprises is a vibrant, dynamic and fastest growing sector of Indian economy in complementary with the large industries. They are enormously contributing towards the socio-economic development of the country. MUDRA is an effort to ‘fund the unfunded’ like how microfinance has been to ‘bank the unbanked’. The paper aims to understand the Mudra yojana and its significance; to examine the progress of Mudra and to analyse the pattern and amount of loans advanced to Tamil Nadu. To conclude this PMMY which is a good initiative from the part of government to encourage entrepreneurs is going to bring about a dramatic change in the MSME sector.
Small Scale Industries play a very vital role in the national economy. They help in generating employment with minimum
possible investment and play a very vital role in promoting exports. Therefore, the Government has announced various schemes and policies for the promotion of Small Scale Industries to ensure that control over production is widely distributed. As per the present definition, an industry having investment of upto Rs. 1 crore in plant and machinery is defined as Small Scale Industry.
• The 'District Industries Centre' (DICs) programme was started by the central government in 1978 with the objective of providing a focal point for promoting small, tiny, cottage and village industries in a particular area and to make available to them all necessary services and facilities at one place.
• The District Industries Centre is the institution at the District level, which provides all the services and support facilities to the entrepreneur for setting up Micro, Small and Medium Enterprises. This included identification of suitable schemes, preparation of feasibility reports, arrangements for credit facilities, machinery and equipments, provision of raw materials and development of industrial clusters etc.
• Established in 1940
• Vision is to be primary driving force of commercially sustainable industrial development .
• Industrial development Corporations are companies or agencies in India which were established at various times under the policy of Government of India for the promotion of small - scale industries.
• A Central Industrial Finance corporation was set up under the industrial Finance corporations Act, 1948 in order to provide medium and long term credit to industrial undertakings which fall outside normal activities of commercial banks.
• The State governments expressed their desire that similar corporations be set up in states to supplement the work of the Industrial financial corporation. State governments also expressed that the State corporations be established under a special statue in order to make it possible to incorporate in the constitutions necessary provisions in regard to majority control by the government, guaranteed by the State government in regard to the payment principal. In order to implement the views Expressed by the State governments the State Financial Corporation bill was introduced in the Parliament.
• Small Industries Development Bank of India (SIDBI), set up on April 2, 1990 under an Act of Indian Parliament, is the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector and for Co-ordination of the functions of the institutions engaged in similar activities.
• It was incorporated initially as a wholly owned subsidiary of Industrial Development Bank of India.
• The purpose is to provide refinance facilities and short term lending to industries. Its headquarters is in Lucknow.
• Former Deputy Managing Director is Shri N.K. Maini. Dr. Kshatrapati Shivaji is the new Chairman and Managing Director of the organisation.
Benefits for MSME under "Aatmanirbhar Bharat Abhiyan"Priyank Shah
Our FM Smt. Nirmala Sitharamanji announced series of stimulus package under the vision of Aatmanirbhar Bharat Abhiyan of PM Shri Narendra Modiji. I have highlighted here some of the benefits offered to MSMEs in the said package to strengthen their growth and make them globally competitive.
CGTMSE is a scheme launched by the Government of India in 2006. The scheme provides collateral-free loan to Micro and Small Enterprises (MSEs) which helps them in getting access to finance from banks. The main aim of this scheme is to promote entrepreneurship and employment generation. In this article, we will discuss the various benefits of CGTMSE for MSMEs in India.
Whereas, Commercial Bank of Ethiopia (CBE) has changed its strategic direction to customer centricity with the aim of making savings and credit products more customer centric and offering better customer value propositions;
Whereas, it has become necessary to improve customer experience by digitizing micro business segment through Micro loan products;
Whereas, Commercial bank of Ethiopia intends to diversify its credit portfolio mix in terms of tenure through expanding the short-term financing to be availed to micro business segments;
Whereas, it is necessary to set eligibility requirements, terms and conditions of loan products and services to the micro business segment in view of risk involved and customer’s demand;
Whereas, it is necessary to attract the underserved part of the society and enhance financial inclusion with low-cost financial services availed through mobile money platform;
Whereas, the majority of Micro Enterprises do not fit the loan terms and conditions of Micro Finance Institutions and Banks due to they are high in number and lacked collateral. And CBE has established Micro Credit Department to properly address loan demand from Micro Enterprises.
NOW, therefore; it becomes important to develop and introduce the “Micro Saving and Loan Policy”.
1.2. Short Title
This policy may be cited as “Micro Saving and Loan (MSL) Policy of the Commercial Bank of Ethiopia”;
1.3. Definitions of Terms
“Board” means supervisory Board of the Bank formed in accordance with Article 10 (2) and 12 of Public Enterprises Proclamation No 25/1992.
“Credit Scoring” means judging/evaluating the creditworthiness of a customer based on basic characteristics and past experiences with credit.
“Digital Lending” means a remote and automated lending process, largely by use of seamless digital technologies for customer acquisition, credit assessment, loan approval, disbursement, recovery, and associated customer services.
“Micro Saving and Loan (MSL)” means a digital based saving and lending platform for customers. Here, Under MSL, the “Micro Saving” is a saving platform that allows customers to save money on a digital platform (using their mobile phones) without visiting branches and filling forms. “Micro Loan” is uncollateralized(Credit Scoring Based) digital lending product which is instant, automated, and remote loan offered through mobile phones for CBE Birr customers;
“Micro saving and Loan” means a small amount of loan availed to micro businesses and individuals for the purpose of supporting businesses and consumption.
“MSL Policy” means a general framework approved by the board that spells out and guides the bank’s MSL strategic directions, processes or activities and credit /financing decision.
“National Bank of Ethiopia (NBE)” means a supervising authority of banks, established in accordance with the council of ministers’ proclamation number 591/2008;
“Loan Pricing” means setting interest rate, fees, commission and others to be charged by the Bank
There is no limit to the financial benefits that an MSME registration certificate can proffer for your small business. Here is a comprehensive guide that will familiarize you with the numerous reforms introduced by the government for the growth of MSMEs in India.
MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. MSME registration is a mandatory task for any business to start and operate in India. MSME categorized under two main categories, such as manufacturing enterprises and service enterprises.
For more Details visit @ https://www.msmeregistration.org/
MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. MSME registration is a mandatory task for any business to start and operate in India. MSME categorized under two main categories, such as manufacturing enterprises and service enterprises.
My write up which appeared in the Cover Story of April 2019 issue of Monthly Economic Digest Published by Maharashtra Economic Development Council. The article is about the incentives policies relating to MSMEs in India.
My write up which appeared in the Cover Story of April 2019 issue of Monthly Economic Digest Published by Maharashtra Economic Development Council. The article is about the incentives policies relating to MSMEs in India.
Mudra loan is a type of loan scheme introduced by the Government of India to support small business owners and entrepreneurs who require financial assistance to start or expand their businesses.
Micro, Small and Medium Enterprises (MSMEs) play a major role in economic development, particularly in emerging countries.
MSMEs :
Contributes to the economic growth,
Enormous potential for growth
Potential for employment and income generation
for vast masses of the country.
Government pronouncements about “Make in India” are fundamentally based on these convictions.
There is heightened attention by the international community on MSME sector.
This is primarily because of the critical importance of job creation in the recovery cycle following the recent financial crisis, and the MSME’s potentials in that respect.
In Indian economy, MSME sector contribute :
45 % of the manufacturing output.
40 % of the exports.
There are 467.56 lakh enterprises in the MSME sector.
Provide the largest share of the employment after agriculture. Employment opportunities to 10.62 crore people across the country.
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2. Government Business Loans:
Government of India provides many business loans.
Some of them are:
1) Pradhan Mantri Mudra Yojana (PMMY)
2) Stand-Up India
3) PSB Loans in 59 Minutes
4) National Small Industries Corporation (NSIC) Subsidy
5) SIDBI Make in India Soft Loan Fund for MSMEs (SMILE)
6) Credit Guarantee Scheme (CGS)
2
3. Eligibility Criteria:
The factors of eligibility criteria involve the following:
Age of the applicant
Loan amount
Type of Business
Credit Score
Annual Turnover
Capital Invested
3
4. Pradhan Mantri Mudra Yojana (PMMY)
There are three types of loans in PMMY, namely :-
The first category which is known as Shishu loans are for
extremely small business units and can loan you a sum of
money upto Rs 50,000.
The second category is known as kishore loans which are for
slightly bigger units and lends above Rs 50,000 but upto Rs 5
lakh.
The third category known as Tarun covers loans above Rs 5
lakh and upto Rs 10 lakh for units requiring loans bigger than
the category of Shishu and Kishore loans.
4
5. Eligibility: Non Corporate Small Business Segment (NCSB) comprising
of proprietorship/enterprise firms in rural and urban areas can apply for
the loan. Here are some examples of NCSBs:
Small manufacturing units
Service sector units
Shopkeepers
Fruits / vegetable vendors
Truck operators
Food-service units
Repair shops
Machine operators
Small industries
Artisans
Food processors and others
All kinds of manufacturing, trading and service sector activities can get a
MUDRA loan.
5
6. Stand-Up India:
6• Governed by Small Industries Development Bank of
India (SIDBI), Stand up India was initiated to provide
funding to people who come under SC/ST category
and women entrepreneurs. This scheme provides
bank loans between Rs. 10 lakh and Rs. 1 crore to at
least one SC/ST borrower and one woman borrower
per bank branch.
• Eligibility: Enterprises in trading, manufacturing, or
services sectors are considered eligible for this
scheme. . In case of non-individual enterprises at least
51% of shareholding stake should be with an SC/ST
or woman entrepreneur.
7. PSB Loans in 59 Minutes
On Nov 5, 2018, our Prime Minister, unveiled a dedicated digital platform or web portal
named as psbloansin59minutes to enable loans of up to Rs. 5 crore in just 59 minutes
for startup business and MSMEs. The government startup loans were launched to
provide financial assistance to the Micro, Small and Medium Enterprises (MSMEs)
throughout India.
Some of the great features about this facility are:
Fast access to financial assistance: Usually such loan processes take about 7-10
working days to complete. However, the loan approval process takes in just 59 minutes
Loan amount: The loan amount offered under this loan will be between Rs. 1 Lakh and
maximum is up to Rs. 5 crore
Rate of interest: The rate of interest offered under this scheme is 8.50% onwards
Quick disbursal: After the loan gets approved in an hour, you can expect the money to
reach in your bank account in 7-8 working days
7
8. National Small Industries Corporation (NSIC)
Subsidy
The government aids the small business under National Small Industries
Corporation Subsidy (NSICS) with a focus on two financial benefits:
marketing assistance and raw material assistance.
Its benefits are as follows:
Cost-free tenders: Under the marketing assistance program, the Small-
Scale Industries (SSIs) shall have access to the tenders without any costs.
No security deposit requires: The SSIs (Small Scale Industries) are
exempted from paying a security deposit for availing finances.
Land and building financing: For the SSI units with the project cost not
exceeding Rs. 25 Lakh, the scheme provides a financial facility for land and
building department.
8
9. SIDBI Make in India Soft Loan Fund for
MSMEs (SMILE)
Launched in 2015, SMILE is governed by Small Industries Development
Bank of India (SIDBI). The aim of this scheme is to provide soft loans,
to meet the required debt-equity ratio for the establishment of new
MSMEs and also to enable the growth for existing ones. The interest
rate offered under SMILE scheme is
8.36% onwards.
Eligibility: New enterprises on board along with the existing
manufacturing and services sectors can apply for this scheme. Existing
enterprises undertaking up-gradation or starting other projects for
expanding their business will also be covered under this scheme. The
maximum loan repayment tenure is 10 years with 36 months of
moratorium period.
9
10. Credit Guarantee Scheme (CGS)
Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
scheme was launched by the Government to strengthen and facilitate the
credit delivery system to the MSME sector. Public, private, and foreign
banks along with Regional Rural Banks (RRBs) and the SBI with its associate
banks are included into the lending institutions under this scheme.
Eligibility: New and existing MSMEs engaged in manufacturing or service
activities, excluding retail trade, educational institutions, agriculture, Self-
Help Groups (SHGs), training institutions are eligible for this scheme.
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