Search Results for Tag : MSME
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Cabinet Approves Amendment to the Micro, Small and Medium Enterprises Development Act, 2006 to Change the Criteria of Classification(07.02.2018)
The Union Cabinet has approved change in the basis of classifying Micro, Small and Medium enterprises from ‘investment in plant & machinery/equipment’.....
Tags : MSME, Amendment, Approval
Central Government approves capital infusion in Export Credit Guarantee Corporation Ltd.(27.06.2018)
The Cabinet Committee on Economic Affairs chaired by Prime Minister has approved the capital infusion of Rs. 2000 crore for strengthening of Export Cr.....
Tags : Capital infusion, Approval, MSME exports
Prime Minister unveiled 12 key initiatives for expansion of MSMEs(02.11.2018)
The Prime Minister launched a historic support and outreach programme for the Micro, Small and Medium Enterprises (MSME) sector. Twelve key initiative.....
Tags : MSMEs, Expansion, Initiative, Launch
Government Launches Updated Credit Linked Capital Subsidy Scheme in MSME Sector(05.09.2019)
The Central Government has launched an updated Credit linked Capital Subsidy Scheme in order to allow micro, small and medium enterprises (MSMEs) acce.....
Tags : Scheme, Launch, MSME Sector
CBIC introduces Liberalised Economic Operator Package for MSMEs(07.01.2021)
Central Board of Indirect Taxes & Customs (CBIC) has introduced Liberalised MSME AEO Package for Micro Small and Medium Enterprises (MSMEs). In order .....
Tags : MSMEs, AEOs, Package
President promulgates Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021(07.04.2021)
The President promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 on 4th April 2021. The Cabinet had approved on 31st March, 20.....
Tags : Ordinance, Amendment, MSMEs
Government launches Vivad se Vishwas scheme for relief to MSMEs(02.05.2023)
Central Government has launched the scheme, “Vivad se Vishwas I – Relief to MSMEs”. The scheme was announced in the Union Budget 2023-2024 by Union Fi.....
Tags : Vivad-se-Vishwas Scheme, Government scheme, MSME
Union Minister for MSME launches Union Bank MSME RuPay Credit Card(25.02.2022)
Union Minister for Micro, Small & Medium Enterprises, launched the Union MSME RuPay Credit Card of Union Bank of India. The card is being offered by U.....
Tags : Credit Card, MSME, Launch
Quality Council of India and Open Network for Digital Commerce launch DigiReady Certification Portal to empower MSMEs and small retailers(08.02.2024)
In a significant stride towards fostering digital inclusion in the MSME sector, the Quality Council of India (QCI) and Open Network for Digital Commer.....
Tags : DRC, Launch, MSME
News
SC Seeks Govt’s Reply on Wages of MSME Workers by May 15(12.05.2020)
Supreme Court has sought the Union government’s response in Petitions on whether Micro, Small and Medium Enterprises (MSMEs) workers voluntarily absta.....
Tags : Supreme Court, Wages of MSME Workers
RBI Gives Major Relief to MSME Sector(07.06.2018)
In a major relief to MSMEs, the Reserve Bank has eased NPA classification norms for such units facing input credit linkages and associated issues unde.....
Tags : RBI, MSME
Registration Not Mandatory for Availing Benefits Under MSMED Act 2006: Delhi High Court(11.07.2018)
Delhi High Court has held that an entity which falls within the definition of micro/small enterprise will be treated as a ‘supplier’ under Section 2(n.....
Tags : Delhi High Court, MSME
P&H HC: Matter Can be Referred to Arbitration Under MSMED Act in Absence of Arbitration Agreement(14.06.2022)
Punjab and Haryana High Court has held that even in the absence of an arbitration agreement between the parties, the matter can be referred to arbitra.....
Tags : Punjab and Haryana High Court, Arbitration, MSMED Act
Calcutta High Court: Finding of MSME Council on Its Jurisdiction Cannot be Termed as Interim Award(23.05.2022)
Calcutta HC has held that the decision of the MSME Council on its jurisdiction is an order under Section 16 of Arbitration &Conciliation Act and canno.....
Tags : Calcutta High Court, Interim Belief, MSME
SC: Reference to Facilitation Council Maintainable In Spite of Independent Arbitration Agreement(01.11.2022)
Supreme Court has held that reference made to Facilitation Council is maintainable in spite of an independent arbitration agreement existing between t.....
Tags : Supreme Court, Facilitation Council, Arbitration Agreement, MSME
SC: Party Who Was Not Supplier on Date of Entering Into Contract Can’t Seek Benefit Under MSMED Act(02.11.2022)
Supreme Court has held that a party who was not 'supplier' on the date of entering into contract cannot seek any benefit as the 'supplier' under the M.....
Tags : Supreme Court, MSMED, Supplier
SC: Facilitation Council Cannot Review Its Own Decisions(19.09.2022)
Supreme Court has held that Micro, Small and Medium Enterprises Development Act does not empower the Facilitation Council to review its own decisions.
Tags : Supreme Court, MSME, Facilitation Council
SC: Dues Under MSMED Act Won’t Prevail Over Proceedings Under SARFAESI Act(06.01.2023)
Supreme Court has held that Dues under Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 would not prevail over the SARFAESI Act.
Tags : Supreme Court, MSMED, SARFAESI, Dues
MSME Ministry Notifies GSTIN Not Mandatory for MSME Udyam Registration(09.03.2021)
Ministry of Micro, Small, and Medium Enterprises (MSME) has notified that GSTIN is not mandatory for MSME Udyam Registration. The Central Government a.....
Tags : Ministry of Micro, Small, and Medium Enterprises, MSME Udyam Registration
Centre Promulgates IBC Amendment Ordinance to Allow Pre-Packaged Insolvency Process for MSMEs(05.04.2021)
Central Government has promulgated Insolvency and Bankruptcy Code(Amendment) Ordinance 2021 to allow pre-packaged insolvency resolution process for co.....
Tags : Central Government, Pre-Packaged Insolvency Process for MSMEs
Bom HC: Facilitation Council Has No Jurisdiction to Conduct Arbitration Dispute of Works Contract(23.03.2023)
Bombay High Court while observing that works contract is not amenable to provisions of MSMED Act, and therefore Act could not have been invoked by cla.....
Tags : Bombay High Court, MSMED, Works Contract, Facilitation Council
Cal. HC: Facilitation Council Can Arbitrate Claims After Supplier’s Registration Under MSMED Act(10.04.2023)
Calcutta High Court has held that Facilitation Council would have exclusive jurisdiction to decide on reference, and to refer the same for arbitration.....
Tags : Calcutta High Court, MSMED Act, Facilitation Council
SC: Provisions of Limitation Act Will Apply to Arbitration Proceedings Under MSMED Act(30.06.2021)
Supreme Court held that the provisions of Limitation Act, 1963 will apply to arbitration proceedings initiated under Section 18(3) of Micro, Small and.....
Tags : Supreme Court, Arbitration Proceedings Under MSMED Act
HP HC: District Court Must See If the Pre-Deposit Amount is Actually Deposited(28.06.2023)
Himachal Pradesh High Court has held that District Court before staying the execution of an arbitral award using its power under MSME Act, must first .....
Tags : Himachal Pradesh High Court, MSME, Pre-Deposit
Del HC: MSMED Act Not Applicable to CA Firms Appointed as Special Auditors(10.07.2023)
Delhi High Court has held that MSMED Act, 2006 is not applicable to a CA firm appointed as ‘Special Auditor’ under Section 142(2A) of the Income Tax A.....
Tags : Delhi High Court, MSMED Act, Special Auditor, Income-Tax
Ker. HC: Non-Compliance of MSME Framework Doesn’t Nullify NPA Declaration Under SARFAESI(15.09.2023)
Kerala High Court has held that failure to abide by the terms of the notification of 2015 prescribing ‘Framework for Revival and Rehabilitation of Mic.....
Tags : Kerala High Court, MSME Framework, NPA, SARFAESI
Cal. HC: Facilitation Council Can’t Delegate Decision Making to a Chartered Accountant(16.10.2023)
Calcutta High Court has held that Facilitation Council cannot desert the task of decision-making and leave it to a Chartered Accountant and depend on .....
Tags : Calcutta High Court, Facilitation Council, Chartered Accountant, MSME
RBI Revises Rules for Resolution of Stressed MSME Loans(18.03.2016)
Reserve Bank of India (RBI) has revised rules pertaining to revival of advances to small businesses and asked lenders to form district-level committee.....
Tags : Reserve Bank of India , MSME
Ker. HC: MSMED Act Superseded All Recovery Proceedings by Virtue of Non-Obstante Clause u/s 24(23.10.2023)
Kerala High Court has held that MSMED Act being a subsequent legislation against the SARFAESI Act, the Parliament has purposefully and knowingly super.....
Tags : Kerala High Court, MSMED Act, SARFAESI
All. HC: MSMED Act Overrides Arbitration and Conciliation Act 1996(13.12.2023)
Allahabad High Court while observing that private agreement can’t obliterate statutory provisions, has held that once statutory mechanism under Sectio.....
Tags : Allahabad High Court, MSMED Act, Arbitration
Notifications & Circulars
Reclassification of MSMEs will help manufacturing: Textiles Minister(13.02.2018)
Minister of Textiles Smriti Zubin Irani said that reclassification of MSMEs and 5 percent reduction in tax on annual turnover of companies up to Rs. 2.....
Tags : Reclassification, MSMEs, Manufacturing
Relief for MSME Borrowers registered under Goods and Services Tax (GST)(07.02.2018)
Presently, banks and NBFCs in India generally classify a loan account as Non-Performing Asset (NPA) based on 90 day and 120 day delinquency norms, res.....
Tags : MSME Borrowers, Relief, GST
RBI releases guidelines on restructuring of advances to MSMEs(01.01.2019)
Micro, Small and Medium Enterprises (MSMEs) form an important component of the Indian economy and contribute significantly to the country's GDP, expor.....
Tags : Guidelines, Release, MSMEs
Regulation of Functions of MSMEs(07.01.2019)
In order to promote the Ease of Doing Business, the Ministry of Micro, Small and Medium Enterprises (MSME) has introduced various initiatives includin.....
Tags : Regulation, Functions, MSMEs
NRDC Licenses NavRakshak PPE Suit Manufacturing Know-how to Five MSMEs Developed by Indian Navy(18.06.2020)
National Research Development Corporation (NRDC) has licensed the manufacturing know-how of a PPE Suit being named as NavRakshak to five MSME clients:.....
Tags : Licenses, PPE Suit, Know-how, MSMEs
Interest Subvention Scheme for MSMEs - Co-operative banks(07.10.2020)
1. Government of India, Ministry of Micro, Small and Medium Enterprises (MSMEs) had announced the 'Interest Subvention Scheme for MSMEs 2018' on Novem.....
Tags : Scheme, MSMEs, Implementation
Suresh Prabhu launches digital platform for MSME Exporters(17.04.2018)
Commerce and Industry Minister, Suresh Prabhu at the launch of FIEO Global Linker, a digital platform for MSME Exporters.
The Minister of .....
Tags : MSME Exporters, Digital platform, Launch
Zero Defect Zero Effect Scheme(29.11.2021)
As many as 23,948 MSMEs had registered with intent to adopt the principle of the Zero Defect Zero Effect Scheme (ZED). Under this, the Quality Council.....
Tags : Scheme, MSME, ZED
MSME units are together capable of constituting a complete supply chain(20.01.2022)
There is tremendous potential for Indian engineering MSMEs to be integrated into the Global Value Chain due to their manufacturing cost advantage, sai.....
Tags : MSME units, Capability, Supply chain
Foreign Investment in MSMEs sector(12.12.2022)
Foreign Direct Investment (FDI) is an enabling policy, which is uniformly applicable irrespective of scale and size of eligible investee entities. To .....
Tags : Foreign Investment, MSMEs sector, Promotion
E-Commerce Marketing Platform(04.08.2022)
The National Small Industries Corporation, a PSU under the Ministry of Micro, Small and Medium Enterprises (MSME) facilitates e-marketing service to M.....
Tags : E-marketing, Service, MSMEs
Implementation of Schemes for MSMEs Under Atma Nirbhar Bharat(08.08.2022)
The Government has taken a number of initiatives under the Aatma Nirbhar Bharat Abhiyan to promote the Micro, Small and Medium Enterprises (MSMEs) sec.....
Tags : Implementation, Schemes, MSMEs
Vivad Se Vishwas I-Relief for MSMEs(06.02.2023)
1. Government has been getting many references from Micro, Small and Medium Enterprises (MSMEs) regarding difficulties being faced by them in the last.....
Tags : Vivad Se Vishwas, Relief, MSMEs
Schemes to Support MSMEs(10.08.2023)
The Micro, Small and Medium Enterprises (MSMEs) sector plays an important role in the growth of the Indian economy. As per the latest information rece.....
Tags : Schemes, MSMEs, Implementation
First Meeting of National Msme Council Held With Emphasis on Raising And Accelerating Msme Performance Programme (Ramp)(10.05.2023)
The Ministry of Micro, Small and Medium Enterprises, Government of India organised the first meeting of the National MSME Council at Vigyan Bhawan, Ne.....
Tags : First Meeting, Msme Council, Ramp
Contribution of Manufacturing Output of MSME(09.12.2019)
As reported by Central Statistics Office (CSO), Ministry of Statistics & Programme Implementation (MoSPI), the Share of MSME manufacturing output in A.....
Tags : Contribution, Manufacturing Output, MSME
Foreign Investment in MSME sector(07.12.2023)
Foreign Direct Investment (FDI) is an enabling policy, which is uniformly applicable irrespective of scale and size of eligible investee entities. To .....
Tags : Foreign Investment, MSME sector, Schemes
New Definition of Micro, Small and Medium Enterprises - Clarification(19.05.2022)
1. Please refer to our circulars FIDD.MSME & NFS.BC.No.3/06.02.31/2020-21 dated July 2, 2020, FIDD.MSME & NFS.BC.No.4/06.02.31/2020-21 dated August 21.....
Tags : New Definition, MSME, Clarification
Resolution Framework 2.0 - Resolution of Covid-19 related stress of Micro, Small and Medium Enterprises(05.05.2021)
1. Please refer to the circular DOR.No.BP.BC/4/21.04.048/2020-21 dated August 6, 2020 on restructuring of advances to the MSME borrowers.
2......
Tags : Resolution Framework, Covid-19, MSME
Credit to MSME entrepreneurs(05.05.2021)
1. This is with reference to circular DOR.No.Ret.BC.37/12.01.001/2020-21 dated February 5, 2021, on captioned subject.
2. In terms of the ab.....
Tags : Credit, MSME, Entrepreneurs
RBI grants ‘in-principle’ approval to three applicants for setting up TReDS(24.11.2015)
The Reserve Bank of India has granted ‘in-principle’ approval to NSE Strategic Investment Corporation, Axis Bank and Mynd Solutions to set up and ope.....
Tags : Trade receivables, msme, applicants, approval
E-commerce portal of MSME to enable all businesses to enhance global reach(22.07.2021)
National Small Industries Corporation, a PSU under the Ministry of MSME has a B2B MSME Global Mart Portal and efforts have been made to further streng.....
Tags : E-commerce, Portal, MSME
Shri Giriraj Singh launches MSME Delayed Payment Portal - MSME Samadhaan(30.10.2017)
Union Minister of State (Independent Charge) Shri Giriraj Singh launched MSME Delayed Payment Portal - MSME Samadhaan (http://msefc.msme.gov.in) here .....
Tags : Payment Portal, MSME Samadhaan, Launch
Promotion of MSMES(09.12.2021)
As informed by Department for Promotion of Industry & Internal Trade (DPIIT), as part of the 'Start-up India' initiatives the Government has provision.....
Tags : Promotion, MSMES, Incentives
Credit flow to Micro, Small and Medium Enterprises Sector(02.07.2020)
1. Please refer to circular RPCD.PLNFS.BC.No.63/06.02.31/2006-07 dated April 4, 2007 containing definition of Micro, Small and Medium Enterprises as p.....
Tags : Credit flow, Msme, Classification
Government Schemes for MSMEs and NBFCs creating significant impact - Sanctions under Emergency Credit Line Guarantee Scheme (ECLGS) cross Rs. 79,000 crore(23.06.2020)
The interventions by Government for MSMEs, have been gaining rapid traction. Under the Emergency Credit Line backed by a Government guarantee, Banks f.....
Tags : Government Schemes, MSMEs, NBFCs, Significant impact