Weekly news Snippet - Edition 8

Weekly news Snippet - Edition 8

I.?MSME:?

  1. Ease of doing business for MSMEs:

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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:

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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)

III. Finance:

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  • Signs of private sector investment cycle unfolding and sectors like steel and cement have reached a stage where greenfield investment will take place. “We do see signs of the corporate sector beginning to make investments. There are some new investments announced” Anantha Nageswaran said at the CII’s annual session.(5)
  • According to GlobalData, the volume of funding deals in India declined by 62.5% (year-on-year) in January 2023, while the value of deals fell by 80.3%. Several uncertainties have hit investor confidence in startups.(6)
  • IIFL partners with Yobee to launch Tradebox (a product that simplifies and enhances the systematic trading experience for advisors, investors, and traders). "With Tradebox, Yobee is streamlining systematic trading to match the simplicity of mutual fund investments. It transforms complex trading into an easy, user-friendly experience, therefore enabling everyone to act on weekly and monthly wealth creation ?opportunities," Yobee’s co-founder and CEO Salil Mathur said.(7)


Bibliography:-

1.???????financialexpress.com/industry/sme/msme-eodb-msme-ministry-makes-aadhaar-authentication-for-informal-micro-units-voluntary-to-boost-udyam-registration/3101627/

2.???????financialexpress.com/industry/sme/msme-fin-saas-platform-actyv-ai-partnerswith-unity-small-finance-bank-for-bnpl-offering-to-smbs/3099230/

3.???????economictimes.indiatimes.com/industry/banking/finance/banking/strong-performance-of-indian-banks-to-continue-says-sp-analyst/articleshow/100503407.cms

4.???????economictimes.indiatimes.com/industry/banking/finance/banking/bank-of-maharashtra-tops-psu-lenders-chart-in-profit-and-loan-growth-in-fy23/articleshow/100493814.cms

5.???????business-standard.com/economy/news/signs-of-private-sector-investment-cycle-unfolding-says-cea-nageswara-123052500788_1.html ?

6.???????economictimes.indiatimes.com/industry/banking/finance/several-uncertainties-have-hit-investor-confidence-in-startups-study/articleshow/100386029.cms

7.???????economictimes.indiatimes.com/industry/banking/finance/iifl-partners-yobee-to-launch-tradebox-for-investors/articleshow/100374938.cms??

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