Category: MSME Special

More than a century old Bank of India is one of the leading commercial banks in the country with pan India presence. It is one of the public sector banks with considerable overseas presence having footprint in 22 foreign countries across five continents with 60 offices, including five subsidiaries, five representative offices and one joint venture (JV), at key banking and financial centres like Tokyo, Singapore, Hong Kong, London, Paris and New York. Micro, Small and Medium Enterprises (MSMEs) is a very important segment in the economy of the country that contributes substantially to the country's manufacturing GDP. It contributes 45 % of the manufacturing output and nearly 40 % of India's exports. Reserve Bank of India (RBI) last year revised the guidelines for targets and classifi...

The current picture of the policy environment and comforts of the existing enterprises under the fast-changing policy environment shows MSMEs can grow faster only if there are better awareness and pleasant institutional cajolement. There should be a consistent effort in bringing clusters and business regions beyond the metros and big towns closer to institutions' services, shedding the rituals of conducting white-collar like seminars and sponsorships of high profile sports. According to the Prime Minister, there are five key aspects for facilitating the MSME sector. These include access to credit, access to market, technology up-gradation, ease of doing business, and a sense of security for employees. Our nine-month-long study has been very revealing, that...

For MSMEs growth As per the existing definition, micro-enterprise investment in plant and machinery does not exceed Rs 25 lakh, between 25 lakh and Rs 5 crore, small enterprise and up to Rs 10 crore medium enterprises. Consistent focus on MSME, taking it as a time-bound mission to see each MSME is growing at the rate of 20 per cent can change the look of the Indian economy. There must be a dedicated institutional setup to study the reason for a small unit's negative growth and measures to look after underperforming units based on the skill and integrity of the unit. The approach should be liberal since most of the small units are not so professionally run. Micro small and medium enterprises, popularly known as MSMEs are the backbone of Indian economy. This sector is estimated to c...