Credit and Finance for MSMEs: Small businesses are gradually shifting to the digital channel of recording transactions and book-keeping to streamline their operations and boost efficiency in cash flows. https://www.financialexpress.com/industry/sme/msme-fin-khatabook-raises-60-million-from-facebooks-eduardo-saverin-b-capital-sequoia-dst-global-tencent-kunal-bahl-kunal-shah/1964867/
Initially an assured rate of return of 7.40 % per annul for the year 2020-21 per annul will be provided and thereafter to be reset every year. https://www.financialexpress.com/money/pmvvy-scheme-modi-govt-extends-pradhan-mantri-vaya-vandana-yojana-for-senior-citizens-check-benefits/1965086/
The minister said he was also open to considering suggestions regarding enhancing the turnover limit to up to Rs 250 crore for medium enterprises, and will take up the matter with the MSME secretary. Read more at: https://economictimes.indiatimes.com/small-biz/sme-sector/govt-to-further-revise-criteria-for-classifying-medium-enterprises-under-msme-definition-gadkari/articleshow/75825564.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
At a time when the economic condition is not encouraging, the CIDCO has brought back the policy to change of use and rise of FSI on plots given on lease. https://www.freepressjournal.in/mumbai/mumbai-cidco-brings-back-change-in-use-of-plot-rise-in-fsi-policy
This rights issue is a part of the company’s deleveraging plan and as a result, the company will be net debt free by March 31, 2021. https://www.moneycontrol.com/news/business/markets/reliance-industries-rights-issue-to-open-on-may-20-9-key-things-to-know-5284131.html
SEBI allows mutual funds to invest additional 15% AUM in G-Sec, T-bills. https://www.moneycontrol.com/news/business/mutual-funds/amfi-seeks-sebis-permission-to-have-additional-exposure-to-g-sec-t-bills-5286291.html
The schemes include 50 per cent waiver on the processing fee and the option to “buy now, pay later” (with 90-day moratorium on payment) for the doctors’ community, high funding scheme for police personnel while women customers will be entitled to a 10-basis point discount on the financing cost. Read more at: https://economictimes.indiatimes.com/industry/auto/auto-news/mahindra-mahindra-offers-new-finance-schemes-special-benefits-for-doctors-cops-women/articleshow/75826669.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Tata Housing Finance, HDFC and ICICI Home Finance led the primary market bond sale, raising ₹5,475 crore collectively. https://realty.economictimes.indiatimes.com/news/allied-industries/housing-finance-companies-raise-rs-5475-crore-on-improving-sentiment/75823515
The company on May 18 allotted 10,300 secured, redeemable, non-convertible debentures of face value Rs 10 lakh each, aggregating to Rs 1,030 crore, on a private placement basis, the company said in a regulatory filing. https://realty.economictimes.indiatimes.com/news/allied-industries/indiabulls-housing-finance-raises-rs-1030-crore/75818415
Flipkart has entered into a partnership with retail store chain Vishal Mega Mart for the delivery of essentials. The ecommerce platform already has a similar partnership with Spencer Retail. Read more at: https://yourstory.com/2020/05/flipkart-partnership-vishal-mega-mart-coronavirus-essentials
