Weekly news Snippet - Edition 8
Poornatha (Business & Leadership Education Company)
Business and Leadership Education Company
I.?MSME:?
Encouraging informal micro enterprises (IMEs) for Udyam registration to access to the benefits of priority sector lending (PSL), the MSMEs ministry has made the Aadhaar authentication for such enterprises voluntary.(1)
2. Credit and Finance for MSMEs:
Actyv.ai, enterprise SaaS company has partnered with Unity Small Finance Bank to provide B2B Buy Now Pay Later (BNPL) solutions to small and medium businesses (SMBs). Actyv.ai offers an AI-backed platform with embedded B2B BNPL to support SMBs “with a purpose-based, affordable, and unsecured BNPL solution,” the company said in a statement.(2)
II. Banking:
1.?Future of Banking:
"Indian banks' earnings will likely remain healthy. The sector has improved substantially in the past seven years, from a period when many public-sector lenders were grappling with bad loans," S&P Global Ratings credit analyst Deepali Seth Chhabria said.(3)
2.?Net profits/losses:
Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan and deposit growth in percentage terms during 2022-23. BoM recorded 29.4% jump in loans at Rs 1,75,120 crore as of March 2023. In terms of Retail-Agriculture-MSME (RAM) loans, BoM registered the highest growth of 24.06%.(4)
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III. Finance:
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