CredAble’s Post

 Excited to unveil the "UPI on Credit" Product Document tailored specifically for the MSME sector! 💳✨ In a time where MSMEs are the backbone of our economy, I'm thrilled to introduce a solution that merges the efficiency of UPI with the much-needed flexibility of credit transactions. 🚀 This comprehensive document is designed to address the unique needs of MSMEs, covering: 📋 Product Requirement Document 📚 User Stories 📝 Product Backlog 📈 Go-to-Market Strategy It's more than just transactions; it's about empowering MSMEs to thrive in today's digital landscape. 💡 Let's revolutionize the credit business together for MSMEs, National Payments Corporation Of India (NPCI) Siddhika R. 👥💼 #DigitalFinance #UPIonCredit #Innovation #NPCI

What specific strategies can stakeholders implement to enhance enforcement and raise awareness about the transformative effects of the 45-day payment rule for MSMEs? Sunil Ved, CEO of Ved Group, emphasizes the transformative impact of the 45-day payment rule for MSMEs on cash flow and operational efficiency. As he rightly points out, effective enforcement and awareness are key to unlocking its full potential in driving MSME growth. Let's rally together to champion timely payments and empower MSMEs to thrive! Section 43B(h) of the Income Tax (I-T) Act now requires businesses to pay MSME vendors within 45 days starting April 1. This crucial regulation aims to foster a fair and #sustainable economic landscape by prioritizing timely payments to small and medium-sized enterprises. Adhering to these rules not only ensures compliance but also strengthens vendor relationships and fosters the #growth of MSMEs. Let's embrace this positive change for a more equitable business ecosystem! Exciting insights ahead! 💡 Get ready to dive into the perspectives of MSME owners on the latest strategies shaping the manufacturing industry. Don't miss out on valuable discussions—join the conversation in the comments section and share your thoughts! MSME Helpline | Nirmala Sitharaman | Narayan Rane | Make In India | Narendra Modi | MyGov India #msme #45dayspaymentrule #msmefinance #machinetools #technology #engineering #manufacturing #smes #machinemaker

The importance of tech and financial upskilling cannot be undermined when it comes to MSMEs aiming for financial inclusion. Read the entire article by Mr. Robin Bhowmik, CBO of Manipal Academy of BFSI, published in the Financial Express to learn more about his views on the future of financial inclusion for MSMEs: https://shorturl.at/yAOX5 #MABFSI #BankingLeaders #BFSI #Upskilling #Careers #Finance #ManipalAcademy #FinancialExpress #MediaCoverage #Manipal #MediaPresence

Word of the Day: MSMEs Micro, small, and medium enterprises (MSMEs) play a vital role in the business landscape, offering goods and commodities with lower investment and revenue. In India, MSMEs are categorized based on their investment and turnover: - Micro enterprises: up to Rs 1 cr investment and up to Rs 5 cr turnover, - Small enterprises: up to Rs 10 cr investment and up to Rs 50 cr turnover, - Medium enterprises: up to Rs 50 cr investment and up to Rs 250 cr turnover. The Indian government actively supports the MSME sector's growth by offering easy loans, subsidies for asset acquisition, and more through specialized schemes and policies. #MSMEs #BusinessGrowth #IndianEconomy

Unlock the potential of your business with MSME registration in India! 🌟 Register your enterprise online through the Udyam Registration Portal and enjoy numerous benefits like easy access to loans, subsidies, tax exemptions, and government schemes. 📈✨ Steps to register: 1️⃣ Visit the Udyam Registration Portal 2️⃣ Enter Aadhaar and business details 3️⃣ Submit and verify with OTP 4️⃣ Receive your Udyam Registration Certificate Join the growing list of registered MSMEs in India and take your business to new heights!  #legalchalo #msme #msmeregistration #startupindia #businessregistration #businesssupport #business #businessowner #reel

🚀 The 45-day rule for MSME payments is shaking up the Indian business scene!    While some small enterprises face initial hurdles like order cancellations and tighter cash flows, this regulation is a game-changer.    Timely payments mean stronger financial health for MSMEs, fostering transparency and trust. This shift not only empowers small businesses but also strengthens our economy.    🌟 Embrace the change today for a brighter, more equitable future for India's business community! 💼    #emsme #msmeindia #MSMEBadhegaDeshBadhega #BusinessGrowth #MSMEGrowth #FinancialSolutions #BusinessSuccess #MSME #BusinessGrowth #EconomicReform #SmallBusiness #IndiaRising

📉 Impact of MSME Closures: A Decade in Review Over the last decade, nearly 50,000 MSMEs have shut down, resulting in the loss of over 300,000 jobs. This data, revealed by Minister Jitan Ram Majhi, underscores the critical challenges faced by small businesses in India. 📊 Government Initiatives: Finance Minister Nirmala Sitharaman’s recent budget speech introduced several measures to rejuvenate the MSME sector: 👉 Credit Guarantee Scheme for machinery loans without collateral. 👉Self-Financing Guarantee Fund offering up to ₹100 crore per borrower. 👉New assessment model for MSME credit based on digital footprints. 👉Enhanced credit support during stress periods to prevent NPAs. 👉Mudra Loan Limit increased to ₹20 lakh. 👉Establishment of 24 new SIDBI branches in MSME clusters within three years. 👉Creation of E-commerce Export Hubs in PPP mode to facilitate MSMEs' access to international markets. 💡 Looking Ahead: The resilience and adaptability of MSMEs are crucial for economic growth. With the government’s robust support system, there’s hope for a brighter future for these enterprises. Together, we can foster a thriving ecosystem for MSMEs, driving innovation and employment. How do you think these measures will impact the MSME sector? Share your thoughts and experiences in the comments below! Dhruv Suri Deleverage Technologies #MSME #SmallBusiness #EconomicGrowth #GovernmentSupport #Innovation #Employment #Finance #DigitalEconomy

Great opportunities available to Professionals in the field of MSME Here are Key Highlights of Economic Survey for 2023-24 (a) Cumulatively, 98.9 lakh invoices amounting to Rs. 2.9 lakh crore have been discounted on ‘Trade Receivables Discounting System’ (TReDS) platforms, as of 31 March, 2024 supporting MSMEs for better liquidity and working capital management. (b) As of June 2024, 1.86 crore Informal Micro Enterprises (IMEs) have been onboarded on Udyam Assist Platform (UAP). More than 4.5 crore enterprises have been registered on Udyam Registration Portal (URP) and UAP as of 3 June 2024. (c) Credit Guarantee Scheme (CGS) for MSEs was revamped with an infusion of Rs. 9,000 crore in the corpus of Credit Guarantee Fund Trust for MSEs. Subsequently, the credit limit under the said scheme was enhanced from Rs. 2 crore to Rs. 5 crore, with a minimum annual guarantee fee of as low as 0.37% per annum. (d) Credit guarantees worth Rs. 3 lakh crore were approved during FY23 and FY24 against the target of Rs. 2 lakh crore in four years. During FY23, out of the guarantees of Rs. 1.04 lakh crore, Rs. 16,373 crore and Rs. 2,750 crore were extended to women and SC/ST-owned enterprises, respectively. (e) Guarantees worth Rs. 2.02 lakh crore were extended in FY24, out of which Rs. 32,223 crore and Rs. 5,393 crore were extended to women & SC/ST-owned enterprises, respectively. #ecomonicsuvey #india #icai The Institute of Chartered Accountants of India (ICAI)

DM “Business” to know more about this.    Thinking of quitting your job to start a business? 🚀   Wait, do you know the challenges ahead? 😓   1️⃣ Lack of working capital can choke daily operations. 2️⃣ Delayed shipments due to weak supply chains keep MSMEs stuck. 3️⃣ Bigger players often bully MSMEs into costly deals and longer payment cycles.   But here’s the good news: eMSME can help you tackle these issues with government schemes! 💪   #emsme #msme #msmesindia #business #viksitbharat #MSMEBadhegaDeshBadhega #BusinessGrowth #FinanceSolutions #MSME

What is UDYAM. #Udyam is an initiative by the Indian government aimed at simplifying the registration process for micro, small, and medium enterprises (#MSMEs). Udyam Registration is the official government registration for MSMEs that provides them with a unique identification number and a certificate. The main objectives of Udyam include: 1. **Streamlining Registration:** Making the process of registering MSMEs straightforward and less time-consuming. 2. **Facilitating Access to Benefits:** Enabling MSMEs to access various schemes and benefits provided by the government, such as subsidies, tax benefits, and easier access to credit. 3. **Promoting Formalization:** Encouraging informal enterprises to formalize their operations, thereby bringing them into the formal economy. 4. **Data Collection:** Gathering accurate data about MSMEs for better policy-making and resource allocation. To register for Udyam dm us Once registered, enterprises can enjoy several advantages, including easier access to government schemes, financial assistance, #LOANS and various support measures.