Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Invoice financing by NBFCs to help MSMEs greatly say industry bodies

PTI
Updated: February 1st, 2020, 16:17 IST
in Business
0
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

Lucknow: The budget proposal to allow invoice financing by NBFCs will help the micro, small and medium sector greatly, industry body MSME Export Promotion Council said Saturday.

“The invoice financing by the NBFCs will help greatly the MSME sector, but it should be applicable to all registered as well as non-registered units,” the body’s DS Rawat stated. He said that the government should make it applicable to all units operating from conforming as well as non-conforming areas.

Also Read

Union Minister Piyush Goyal

No trade deal under time pressure; national interest supreme: Goyal on pact with US

2 hours ago
Air India Express flight from Delhi to Jammu returns midway, airline cites technical issue

Air India Express admits engine maintenance lapse after DGCA rap, says issue resolved

2 hours ago

Rawat said that in case it becomes applicable to only registered ones, over 60 per cent of the units will be left behind.

“The lack of timely finance and working capital has always been the topmost concern for MSMEs, be it for local or global trade. The provision to enable NBFCs to extend invoice financing to MSMEs will open up an additional financing channel for MSMEs, helping in economic and financial sustainability of the MSME sector,” trade platform ‘Connect2India.com’ CEO Pawan Gupta informed.

Getting timely access to capital would even allow more MSMEs to explore global opportunities as well as increase the volume of the trade, Gupta stated. He also welcomed the move for restructuring of debts by a year, but said that keeping in view the prevailing economic conditions it should be for at least two years.

While presenting the budget, Finance Minister Nirmala Sitharaman said the government has asked the Reserve Bank of India (RBI) to extend by a year to March 31, 2021, the Debt Restructuring window for micro, small and medium enterprises to give thrust to the MSME sector. She also said a scheme will be introduced to provide subordinate debt to MSME entrepreneurs.

“This subordinate debt which will be provided by banks as quasi equity and would be fully guaranteed through credit guarantee trust for medium and small entrepreneurs, would be an additional channel for entrepreneurs and MSMEs to address their funding and financing needs,” Gupta observed.

Rawat hailed the proposal to raise the turnover of Government e-Marketplace (GeM) platform to Rs 3 lakh crore, noting that it will help the MSME sector.

“But, unless the norms of procurement for preferential buying from the MSMEs is strongly monitored, its benefits will not fully be passed on to the targeted sector,” pointed out Rawat.

PTI

 

Tags: e-MarketFinancingindustryMSMENBFCunion Budget
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Smitarani Sahoo

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Amritansh Mishra

December 12, 2019
#MyPaperBagChallenge

Vandana Singh

December 12, 2019
#MyPaperBagChallenge

Akriti Negi

December 12, 2019
#MyPaperBagChallenge

Kamana Singh

December 12, 2019
#MyPaperBagChallenge

Chinmay Kumar Routray

December 12, 2019
?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
#MyPaperBagChallenge

Dibya Ranjan Das

December 12, 2019
#MyPaperBagChallenge

Adrita Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar Ghibela

December 12, 2019
#MyPaperBagChallenge

Sarmistha Nayak

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Mrutyunjaya Behera

December 12, 2019
#MyPaperBagChallenge

Nishikant Rout

December 12, 2019
#MyPaperBagChallenge

Sibarama Khotei

December 12, 2019
#MyPaperBagChallenge

D Rama Rao

December 12, 2019
#MyPaperBagChallenge

Priyasha Pradhan

December 12, 2019
#MyPaperBagChallenge

Aman Kumar Barisal

December 12, 2019
#MyPaperBagChallenge

Archit Mohapatra

December 12, 2019
#MyPaperBagChallenge

Keshab Chandra Rout

December 12, 2019
#MyPaperBagChallenge

Rajashree Manasa Mohanty

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Sipra Mishra

December 12, 2019
#MyPaperBagChallenge

Priyabrata Mohanty

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019

Archives

Editorial

Hungary Lessons

Hungary
July 2, 2025

Revolting against oppression and seeking freedom is ingrained in human nature, something that a repressive regime finds out sooner or...

Read more

New Democratic Face

Zohran Mamdani
July 1, 2025

US President Donald Trump, who had comfortably defeated his Democratic rival Kamala Harris in the recent presidential election and exuded...

Read more

Proof To Vote

Vote
June 30, 2025

Months ahead of the Assembly polls in Bihar, the Election Commission of India (ECI) on 28 June launched a ‘special...

Read more

Genesis of Jana Sangh

AAKAR PATEL
June 29, 2025

We marked the 50th anniversary of the Emergency a few days ago. Another anniversary, this time the 75th, went relatively...

Read more
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2024 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST