Buyers to pay interest for late payment on GeM portal: Govt

July 4, 2020 7:28 AM

Buyers to pay interest for late payment on GeM portal: Govt

The government has said that buyers' organisations will have to pay one percent interest per month on late payment to vendors for purchases made on the Government e-Marketplace (GeM) platform. Office of the Union Finance Minister Nirmala Sitharaman in a tweet said that in order to promote greater discipline and timeliness in payment to vendors, especially Micro, Small and Medium Enterprises- MSMEs, the government has issued an order to levy interest on late payment. This will be applica...

New process of MSME Registration to take off from tomorrow: Govt

June 30, 2020 8:59 PM

New process of MSME Registration to take off from tomorrow: Govt

Government today said that new process of MSME Registration will take off in the name of Udyam Registration from tomorrow. MSME registration process is fully online, paperless and based on self-declaration. No documents or proof are required to be uploaded for registering an MSME. Adhaar Number will be required for registration. The new portal for Udyam Registration is www.udyamregistration.gov.in. Micro, Small and Medium Enterprises Ministry said, the portal guides the entrepreneurs step by ste...

Loans worth over Rs 6L cr sanctioned during March 1 – May 15 for MSME, Retail, Agriculture, Corporate sectors: Govt

May 19, 2020 11:43 AM

Loans worth over Rs 6L cr sanctioned during March 1 – May 15 for MSME, Retail, Agriculture, Corporate sectors: Govt

Union Government has said that loans worth over 6,45,000 crore rupees were sanctioned by Public Sector Banks during 1st March to 15th May for around 55 lakh accounts from MSME, Retail, Agriculture and Corporate sectors. In a tweet, Finance Minister Nirmala Sitharaman said, a notable increase has been seen compared to five lakh 95 thousand crore rupees sanctioned as on 8th of May. She said, Public Sector Banks have sanctioned over one lakh crore rupees as emergency credit lines and working capita...

Record sales of Fertilizers took place during lockdown period: Govt

April 29, 2020 8:00 AM

Record sales of Fertilizers took place during lockdown period: Govt

Government has said that record sales of Fertilizers took place during lockdown period. During 1st to 22nd of April sale of fertilizers to farmers community was over 10 lakh tonnes which is 32 percent higher than the last year of sale during the same period. Chemicals and Fertilizers Minister DV Sadananda Gowda has said, his Ministry is committed to ensure availability of fertilizers to the farmer community before sowing time.   With the concerted efforts of Department of Fertilizers, Railways, ...

Rs 70,000 crore loan amount has been disbursed till Jan 13 under MSMEs scheme: Govt

January 20, 2020 1:12 PM

Rs 70,000 crore loan amount has been disbursed till Jan 13 under MSMEs scheme: Govt

The Finance Ministry has said that a loan amount of nearly seventy thousand crore rupees has been disbursed till 13th of this month under the scheme of providing loan to Micro Small and Medium Enterprises - MSMEs within 59 minutes. The Ministry tweeted that out of the 2.73 lakh applications received, 2.19 lakh applications have been approved. It said, for ease of access to credit for MSMEs, the government has introduced loan provision to MSMEs through a dedicated online portal- www.psbloansin59 ...