A government mandate requiring central public sector enterprises to use the Trade Receivables Discounting System (TReDS) for settling small business invoices is expected to significantly increase volumes on these platforms.
The Reserve Bank of India (RBI) has introduced its 'Payments Vision 2028' document, outlining initiatives to enhance digital payment security, introduce electronic cheques, and expand regulatory oversight to include e-commerce entities.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
Rediff explains why the system, not the Budget, is the problem.
India SME Forum, an organisation for small and medium businesses, has called for creating a dedicated fund of Rs 5000 crore for the export capacity development, promotion, and marketing of Micro, Small & Medium Enterprises (MSMEs) in its Budget recommendation. The forum for MSMEs with over 98,000 members said that to enhance India's global competitiveness and increase its market share in global exports, it was "crucial to increase the number of active exporters and enable at least 3-4 lakh first-time micro, small, and medium exporters while supporting them in promoting Indian products globally."
On the table are additional batches of S-400 surface-to-air missile systems from Russia, which India used with immense success during Operation Sindoor. India could buy at least two squadrons of Su-57 fighter jets plus joint production of S-500 air defence systems.
Russian President Vladimir Putin arrived in New Delhi for a two-day visit focused on strengthening ties with India, including defense cooperation and trade, amidst a changing geopolitical landscape.
Russian President Vladimir Putin will make a two-day visit to India from December 4 to hold annual summit talks with Prime Minister Narendra Modi that is expected to produce a plethora of significant outcomes, including in the defence sphere, to further solidify the bilateral strategic ties.
'Indian refiners can operate without Russian crude from a technical standpoint, but the shift would involve major economic and strategic trade-offs'
Govt to bring 'Bankruptcy Code' for ease of doing biz
The story of the Bombay Stock Exchange and the people who shaped its growth: From wars and bomb blasts to speculators, reformers and wealth creators.
Finance Minister Nirmala Sitharaman on Friday asked private sector companies to clear dues to small businesses within 45 days and admitted that the central departments and enterprises are also not making payments to them on time. She conceded that the Centre, states and state-owned enterprises too have outstanding dues to micro, small and medium enterprises (MSMEs). The minister said that at a meeting with big businesses here two days ago, she had appealed to them to ensure that the dues of small businesses, who are the backbone of the economy, are cleared on time.
The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. Later, the RBI also proposes to extend the Unified Payments Interface (UPI) facility to travellers from all countries. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.
In a business friendly move, the Reserve Bank of India on Friday said that Real Time Gross Settlement System (RTGS), used for large value transactions, will be made available round-the-clock from December. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.
The Reserve Bank of India (RBI) on Wednesday proposed to make interoperability mandatory for digital payments firms. It also allowed users to withdraw cash from e-wallets and fintech companies to process RTGS and NEFT transactions. The RBI expressed dissatisfaction over prepaid payment instruments' (PPIs') failure to migrate towards full-KYC (know your customer) PPIs, and therefore interoperability, even two years after guidelines were issued.
E-commerce giant Amazon on Thursday announced a $250 million (about Rs 1,873 crore) fund that will focus on digitising small and medium businesses, and driving innovation in the areas of agri-tech and health-tech in India. "Small and medium sized businesses are often the engine and the lifeblood of economies and I think it's true in India as well. "And we are very passionate about trying to enable acceleration of SMBs in fuelling innovation and the economy in India," Amazon Web Services CEO Andrew Jassy said.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
Sensex rises, snapping two-session losing streak; banks, auto gain.
Three years and Rs 28,710 crore worth of transactions later, it has more than double the number of sellers than Flipkart.
Announcing a slew of measures for the sector, he said GST-registered micro, small and medium enterprises will be sanctioned a loan of Rs 1 crore in just 59 minutes through a new portal.
Weakness in the broader markets, along with expensive valuations that these companies had commanded during their IPOs, has led to this fall
Lawyers say compensation may be an uphill task for investors because of a lack of judicial precedent and broader institutional difficulties.
Keep your mobile number and e-mail updated. When you receive the weekly report on cash holdings, check to ensure there is no discrepancy between the amount you have kept with the broker and what the latter has reported, advises Sanjay Kumar Singh.
The V-shaped rebound has been aided by a gush of liquidity flooding the global financial system, thanks to balance sheet expansion.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
Banks feel happy shifting their toxic assets from loan books to investment books while the ARCs enjoy the management fees with a smile, observes Tamal Bandyopadhyay.
If you leave too much money lying in your trading account or hand over your securities to brokers, there is always the risk that they could use it to trade in the markets.
At the time of filling the KYC (Know Your Customer) documents (when joining), do not sign wherever you are asked to. In particular, look closely at the power of attorney (PoA) section, experts tell Sanjay Kumar Singh
According to CAIT, e-commerce policy should take within its ambit not only foreign players but also domestic ones.
Govt must take few steps to improve business environment.
'I expect a demand stimulus in the Budget. 'There has been such a shock to the economy that such a stimulus would be needed.'
India and Japan's effort to form a multilateral group of liquefied natural gas buyers to avoid paying higher prices for the fuel is laudable as an objective but is unlikely to be effective immediately.
Biggest ever share sale by any private or public sector co in India.
The online world is driven by convenience, simplicity and speed.
Indian economy about to take-off
More, many market gurus expect the Sensex to reach 30,000 levels by December and 40,000-45,000 in three to four years.
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