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Ease of Doing Business for MSMEs: The government is working on creating an agro MSME category to push entrepreneurship in rural and tribal areas and help manufacturing via local and raw produce. https://www.financialexpress.com/industry/sme/msme-eodb-nitin-gadkari-agro-msme-gram-panchayat-industry-cluster-rural-entrepreneurship/1967648/

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Zaggle will leverage Visa’s expertise in the payments space to co-create and build new solutions for SMEs. Read more at: https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/fintech-startup-zaggle-joins-hands-with-visa-to-launch-payment-solutions-for-smes-startups/articleshow/75917620.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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Recently Defence Research and Development Organisation (DRDO) has listed 35 (approximately 13 major items) technologies related to COVID-19 pandemic for manufacturing, marketing and sale as per the specifications mentioned on its website. https://www.financialexpress.com/defence/drdo-covid-technology-transfer-for-msme-manufacturing-know-more-about-the-terms-conditions/1967656/

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The Union Cabinet on Wednesday approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector hit hard by the coronavirus crisis. The ECLGS was the second-biggest component of Rs 21 lakh crore comprehensive package announcedContinue reading

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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

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“Loans worth over Rs 6.45 lakh crore were sanctioned by PSBs during March 1 – May 15 for 54.96 lakh accounts from MSME, Retail, Agriculture & Corporate sectors; A notable increase compared to the Rs 5.95 lakh crore sanctioned as of May 8,” Finance Minister Nirmala Sitharaman said in a tweet. Read more at: https://economictimes.indiatimes.com/industry/banking/finance/banking/rs-6-45-lakh-crore-worth-loans-sanctioned-by-psbs-during-march-1-may-15/articleshow/75822770.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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Now, insolvency proceedings will not be initiated up to 1 year. Earlier, the MCA had extended it to six months. Read more at: https://economictimes.indiatimes.com/small-biz/sme-sector/fm-provides-covid-19-relief-no-fresh-insolvency-proceeding-against-msmes-for-1-year/articleshow/75785351.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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