About the author
Dr. Deepak Kumar Senior Manager (Research) ULA, C&P Union Bank of India
Arbind Singh Chief Manager (Faculty) ULA, C&P Union Bank of India
Avijit Kumar Agnihotri Chief Manager (Faculty) ULA, C&P, Union Bank of India
Introduction: The Micro, Small and Medium Enterprises Development Act was notified in 2006 to address different issues affecting MSMEs, inter alia, the coverage and investment ceiling of the sector. The earlier criterion of classification of MSMEs under MSMED Act, 2006 was based on investment in plant and machinery / equipment. A revision in MSME criteria of classification was announced in the Aatmnirbhar Bharat package on 13th May, 2020. This has been done in order to be realistic with time, to establish an objective system of classification, and to provide ease of doing business.
Micro enterprise: Investment in plant and machinery or equipment does not exceed one crore rupees and turnover does not exceed five crore rupees.
Small Enterprise: Investment in plant and machinery or equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees.
Medium enterprise: Investment in plant and machinery or equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.
According to the National Sample Survey (NSS) 73rd round, carried out by the National Sample Survey Office, Ministry of Statistics & Program Implementation, there were 633.88 lakh unincorporated non-agricultural MSMEs in the country, Out of which:
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Denne historien er fra December 2023-utgaven av BANKING FINANCE.
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Implementation of New Tax Regime and Its Impact on Direct Tax Revenue
Salaried assessees constitute a significant number in the direct tax population in India. Removal of existing deductions and exemptions causes disappointment especially for the salaried employees and assessees belong to middle income group who took different tax savings scheme.
How to Convince Customers to Continue SIP in a Falling Market
Systematic Investment Plans (SIPs) have emerged as one of the most reliable ways for retail investors to build wealth over time. However, during a falling market, many investors become apprehensive and contemplate discontinuing their SIPs, fearing further losses.
What is Digital Public Infrastructure? A comprehensive introduction to DPI, its components, and benefits
Digital Public Infrastructure (DPI) is a foundational framework that enables digital transformation in a country. It's akin to the physical infrastructure of roads, bridges, and power grids, but in the digital realm. DPI provides the essential tools and systems for governments, businesses, and citizens to interact and transact digitally.
Reputational Risk: A DoubleEdged Sword for Indian Banking
The Indian banking sector has made significant strides in managing reputational risk. However, the challenges and opportunities facing the sector are evolving rapidly. By proactively addressing these challenges and embracing innovation, banks can continue to build trust, enhance their reputation, and contribute to the growth of the Indian economy.
Priority Sector Lending Norms – Historical trend and Time to realign
Climate change has led to the emergence of new concept of green financing which requires huge commitment of allocation of funds. Climate adaptation has taken centre stage at recently held COP29 at the UN global climate summit.
SAMRIDH: Leveraging Blended Finance for Quality Healthcare in India
India faces significant challenges in its healthcare system, primarily due to chronic underfunding. The government allocates approximately 1.9% of its GDP to public health, starkly lower than the global average of about 10%. This shortfall has resulted in inadequate infrastructure, a shortage of skilled workforce, and an overreliance on overstretched public facilities.
Fintech Ecosystem in India and Impacts of Paytm on RBI's Move
In today's scenario the wallet users as well as digital channel payment users are having bundle of opportunity to avail services of various service providers and without hindrance they can enjoy the benefits of digital payments.
Unlocking Financial Synergy: The Power of Co-Lending
Co-lending is an arrangement where multiple lenders, typically a bank and a Non-Banking Financial Company (NBFC), partner to provide loans to borrowers. This helps increase lending capacity and reduces risk for individual lenders. Each lender sets their own terms and conditions. This model leverages the strengths of both types of financial institutions to extend credit, especially to underserved markets.
Legal News
In the recent Supreme Court's judgment in the CORE (Central Organisation for Railway Electrification) vs ECI-SPICSMOMCML case on the appointment of arbitrators, the intended result and reactions have been contrasting.
ICICI Bank installs units to produce water from atmospheric moisture
ICICI Bank has announced the adoption of state-of-the-art technology to produce drinking water from atmospheric moisture as part of its commitment to enhancing the sustainability of its operations.
