Micro, Small and Medium Enterprises (MSME) across the country have since the emergence of the COVID-19 pandemic, through various policy initiatives by Central and State Governments benefitted on funding and liquidity. ETBFSI explores key announcements and initiatives that have impacted MSMEs this week.MSME dues of Rs 6800 crore clearedMinistries and central public sector undertaking’s have reportedly cleared dues worth Rs 6800 crore for MSMEs since June. The freshly released figures come after a policy which imposes a monetary penalty of 1% for organisations which do not pay dues to MSMEs on a timely basis. The Ministry of MSMEs has also said that three-fourths of dues to Micro and Small Businesses’ were being cleared within 30 days, whilst the pendency period was now under 45 days.SIDBI – Maha Gov MoUThe Small Industries Development Bank of India (SIDBI) will develop the MSME ecosystem in Maharashtra after signing an Memorandum of Understanding (MoU) with the State Government. The public lender will by deploying a Project Management Unit (PMU) design schemes around equity support, interest subvention, resolution of stressed MSMEs, supporting MSME entrepreneurs as well as facilitating need-based intervention. SIDBI’s dedicated unit will also study the framework of schemes, interventions and initiatives which are… Read full this story
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