Amaravati, July 17 (IANS) Union Finance Minister Nirmala Sitharaman alleged on Friday that ‘phone banking’ during the UPA rule resulted in huge NPAs, pushing banks into losses. She said that between 2004 and 2014, the Central government used to dictate loan disbursements through “phone banking.”Sitharaman was addressing a credit outreach programme in Narsaropeta in Andhra Pradesh.She claimed that during the UPA rule, leaders used to make phone calls from Delhi directing banks to provide loan…
Latest MSME News & Updates
Mumbai, July 13 (IANS) India’s small business credit ecosystem continues to expand steadily despite external headwinds as total portfolio outstanding (covering sole proprietors and enterprises) stood at Rs 49.2 lakh crore till March 2026, a report said on Monday.This was a robust growth of 13.4 per cent year-on-year, according to credit bureau CRIF High Mark’s 4th edition of CRIF–SIDBI Small Business Spotlight Report.With this increase, the active loans has reached to 7.5 crore as of March…
New Delhi, July 10 (IANS) Commerce and Industry Minister Piyush Goyal on Friday chaired a review meeting with officials of the National Productivity Council (NPC) with a focus on improving inter-departmental collaboration, strengthening institutional capacities, and adopting best practices to enhance productivity and service delivery.The minister also reviewed initiatives aimed at building a more integrated, efficient, and future-ready administrative framework.The NPC is working on a forward-loo…
Jaipur, June 26 (IANS) Rajasthan will celebrate the International MSME Day on Saturday for the first time with a state-level event at the Constitution Club in Jaipur, government officials said on Friday. Chief Minister Bhajan Lal Sharma will inaugurate the programme and announce a series of initiatives aimed at strengthening the Micro, Small and Medium Enterprises (MSME) ecosystem in the state.On this occasion, Chief Minister Sharma will also launch an Industrial Development Policy.During the ev…
Vadodara, June 25 (IANS) In a significant prelude to the upcoming Vibrant Gujarat Regional Summit for Central Gujarat, the state government has disbursed financial assistance of Rs 1,432.41 crore to 12,908 industrialists in Vadodara, marking the highest allocation among the regions where similar summits have been held. The assistance was distributed by Deputy Chief Minister Harsh Sanghavi at a meeting in Vadodara on Thursday, during which he also underlined the state’s focus on strengthening i…
Kochi, June 24 (IANS) Arguing that India’s small businesses need protection from increasingly volatile global economic shocks, the Institute of Small Enterprises and Development (ISED) has proposed a new policy framework that seeks to move MSME support beyond subsidies and promotional schemes towards a comprehensive de-risking strategy. The proposal forms the centrepiece of the India MSME Report 2026, released here on Wednesday by Mercy Epao, Joint Secretary in the Ministry of MSME.At the heart …
New Delhi, June 21 (IANS) The BRICS nations agreed to deepen cooperation, drive innovation, and build a stronger, more sustainable, and future-ready MSME ecosystem at the meeting hosted by India at Agra over the weekend, according to an official statement issued on Sunday.The inaugural session of the BRICS MSME Forum marked a significant step in strengthening collaboration among BRICS nations and fostering a resilient, innovative MSME ecosystem, the statement said,The event brought together poli…
Thiruvananthapuram, June 19 (IANS) After more than two-and-a-half decades as a legislator, Kerala Chief Minister V.D. Satheesan presented his maiden Budget on Friday.With the presentation of the revised State Budget for 2026-27, CM Satheesan also entered the rare list of Kerala Chief Ministers who have presented a Budget while in office, a distinction earlier held only by R. Sankar and Oommen Chandy.Beginning his speech with figures from the White Paper on Kerala’s financial position, CM Sathe…
Tirupati, June 12 (IANS) Andhra Pradesh Chief Minister N. Chandrababu Naidu said on Friday that the National Democratic Alliance (NDA) government during the last two years gave oxygen to Andhra Pradesh that was on a ventilator. Declaring that the government remains committed to upholding the public trust through continued good governance, he called for a collective effort to make Andhra Pradesh a model state for the nation.He stated that the NDA government started administration after treating t…
New Delhi, June 12 (IANS) The total balance sheet of the non-banking financial company (NBFC) sector in India is projected to reach Rs 92.9 trillion by FY28, with nearly 15 per cent annual growth, a report said on Friday.The report from ratings agency Brickwork Ratings said the total assets in the segment stood at Rs 61.1 trillion in FY25, with growth driven by robust loan demand across retail, micro, small, and medium enterprises (MSME), and services segments.Credit growth reached 19.4 per cent…