Category Archives: Business

loan for the msme project

Loan for the MSME Project

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On the basis of a current business world buzz, the Worldbank has recently come up with a brand new initiative. According to this, a financial help related deal has been made to give a Loan for the MSME Project.

CORONA Virus has juggled our lives. The impact is deeply felt by people from all walks of life. All sorts of sectors are heavily influenced by the market downfall as the pandemic is booming. COVID19 pandemic’s impact on MSME is really devastating. The Micros, Small and Medium Enterprises are the building blocks for a developing nations’ economy. An MSME license provides Government support in the form of incentives, subsidies and a lower rate of interest.

MSME plays an important role in India’s GDP. It contributes about 30% of India’s GDP. This loan is basically for reconstruction and development. It will help to confront with pandemic and help 1.5 million MSME in liquidity and credit needs. The maturity period of this loan is 19 years with a 5 year grace period.

The Worldbank has approved a loan 750 million for MSME and is thus supporting India’s emergency response for COVID19 and new projects. This is the third time when the Worldbank is extending its support for India. The first was in April for India’s health sector, then in May to increase cash transfer and now for MSME Development. This loan will help the project to withstand the impact of COVID and protect millions of jobs in India.

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Maruti Suzuki Partner with Axis Bank

Maruti Suzuki India Alliance with the Axis Bank

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Maruti Suzuki India Limited, formerly known as Maruti Udyog Limited, is an automobile manufacturer in India. Maruti Suzuki is credited with having ushered in the automobile revolution in the country. Recently, Maruti Suzuki India has shown an Alliance with the Axis Bank.

Maruti Suzuki India Limited made a small beginning with the iconic Maruti 800 car. The Company is rooted in the business of manufacturing and sale of passenger vehicles in India. Maruti Suzuki today, has a vast portfolio of 16 car models with over 150 variants.

Maruti Suzuki has one of the fastest-growing market in India, but currently, the market is badly battered by the pandemic – COVID19. Due to this pandemic, the sales of automobiles are getting even worse and many people are afraid of mere visiting the dealership and buying cars. Most of the dealers are working from home and this is the very reason causing a delay in the buying process. Surprisingly, since June when the government of India has begun the unlock 1, the market is healing and also the sales are showing a good increasing rate.

The world level Axis Bank is also helping Maruti Suzuki for the dealer inventory as well as for retail financing solutions. Axis Bank is one of the most prestigious banks of India and this partnership will provide Lucrative Finance offers to people who want to buy a new car. This tie-up will also offer some attractive EMI options to ease the liquidity and repayment stress of the customers.

SEE ALSO:- Volkswagen Invested In Chinese Firm After Their Case.

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tamil nadu tops market borrowings

Tamil Nadu Tops Market Borrowings

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Amidst the intense lockdown in most of the districts nationwide due to the COVID-19 pandemic, there’s a latest Indian Business newscast, Tamil Nadu tops market borrowings and has by far collected ₹30,500 crores in fiscal 2020-21.

As per the Socio-Economic Statistical Information of Reserve Bank of India (RBI), Tamil Nadu tops market borrowings & has accounted for 17% of the borrowings (₹25,500 crores), through the issue of bonds called the state development loans. Maharashtra accounted for 14%, followed by Rajasthan and Andhra Pradesh at 17% each. The southern state of Tamil Nadu has issued more long tenure bonds when compared to other states and has not tapped short-terms funding avenues.

The State Chief Minister – Edappadi K. Palaniswami recently said that with industries and businesses remaining shut, the State would sustain a shortfall in revenue of about ₹12,000-₹13,000 crores a month!! As per the Finance Secretary’s projections, the State’s GST (Goods and Services Tax) collection fell 15% in June, higher than the 3% national fall.

On July 7, Tamil Nadu borrowed an additional amount of ₹500 crores rather than the ₹2,000 crores, which was originally planned. The State had earlier planned to raise ₹2,000 crores through the issue of bonds of ₹1,000 each along with tenures of 35 years and 3 years respectively. Tamil Nadu had a choice to raise the ₹250 crores in each of these securities, through the ‘greenshoe’ option. Tamil Nadu has also preferred the market borrowing route for raising funds to meet the increased expenditure and falling revenues.

SEE ALSO:- Paytm to Enter In the Insurance Market

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MSME Sector

Government Has Now Changed The Definition Of MSME Sector, New Norms To Be Activated In July

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As Government has announced the relief of 20 Lakh Crore on the 13th of May for the MSME Sectors, it had boosted their Economy to a greater extent.

But now the Cabinet Committee of Economic Affairs … by Hon’ble Prime Minister Mr. Narendra Modi has revised the classification criteria of the MSME Sector. In the meeting of CEA, the committee has discussed its strategy to reduce the importing capacity in the major field, enhancing the production capacity.

Now as per the new norms, a unit of 50 crore Investment and 250 crore of Turnover will fall under the Medium Inter Price category and manufacturing service unit with 1 crore of Investment and 5 crore Turnover will be classified as Micro and a unit enhancing 10 crore of Investment and 50 crore of Turnover will be categorized as Small Enterprise.

Now with the new norms, there will be no difference between the Manufacturing and Service sector.

An official statement has been released stating that- “This is expected to exponentially add to exports from the Country leading to more growth and economic activity that will directly boost the Creation of Jobs.”

This new categorization will come into effect from July 1st. The existing criteria of categorization are based on the MSMED Act 2006.

PM has strictly ordered the officials to cut down the import of AC, especially split AC. The report has shown that 60-70% of the compressor of these AC’s are being imported from the other Countries. So boosting the production of these compressors will enhance the Economic pace.

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Jio Got Fund From Saudi-Arabia

Jio Got Fund From Saudi-Arabia PIF

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Ambani’s Jio had been a great option for the investors right from its Launch.

In this series company got investment from Saudi-Arabia’s Public Investment Fund. Team on 18, declared that 11,367 Crores, i.e; 2.32% Stakes of Jio Corp. Before company got funds from Facebook and Vista Corp to raise a total of Rs. 1,15,639.95 Crore.

The Company has been on a capital raising spree to cut down its debt to zero. Reliance Industries last month raised Rs. 53,125 Crore from right issue- EconomicTimes

Now Jio platforms has a equity value of Rs. 4.91 Lakh Crore and an entriprise value of Rs. 5.16 Lakh Crore.

Jio had been a great place of the investors and day by day they expanding it beautifully and drastically.

See Also- OnePlus 8 Pro Colour Filter Changes & McLaren Partnership Revoked

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Online Business With Facebook

Online Business With Facebook

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If you are thinking to move your business online but don’t know how to do so Facebook is coming up with an initiative online business guide.

In the recent interview, Mark Zuckerberg said that “If you can’t physically open your store or restaurant, you can still take orders online and ship them to people” He said- “We’re seeing a lot of small businesses that never had online businesses get online for the first time.”

As we know we are in digital world and with the help of Facebook you can attain your online business dream and Facebook is also providing a training program for helping them to understand E-Commerce the best in this is you don’t need any big restaurant or shop to start you can do your business from your home this will definitely help those who want to start a business but they don’t have capital but now with Facebook Your Home is Office.

SEE ALSO- #BlackLivesMatter, A Global Campaign From Minneapolis America

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