India Small Business News Round-up – 2009/02/05

Here is this week’s news round-up for home business, micro business, sole-traders, freelancers, self-employed and any one who is interested in small business news from India:

  • RBI asks banks to restructure MSME loans, scale up lending: The Reserve Bank on Tuesday asked public sector banks to enhance credit flow to fund-starved micro, small and medium enterprises and restructure MSME accounts in a time-bound manner.
  • MSMEs still face crunch: The Reserve Bank’s measures of cutting down on rates to introduce liquidity into the cash-crunched system has received a subdued response from the financial sector as banks continue to park increasingly growing amount of funds with the central bank.
  • Gujarat government asked to help small and diamond units: The Congress party Thursday asked the Gujarat government to take immediate steps to help recession-hit small and medium enterprises (SMEs) and diamond units.
  • Home Office and Small Business Save Over 75% On Essential IT Spend.:We all understand how online software can bring about a massive saving in IT spend. Using this technology, currently labelled ‘cloud computing’, has other benefits for small business too. Some solutions maximize savings by tailoring their offering to a special market. You can spend £15 /month on accounting software alone or get much much more for 20 % less spend – the savings are out there you just need to look.
  • Reliance Money plans SME exchange: The company is also mulling to enter the currency futures space through the exchange. Recently, the Securities and Exchange Board of India had issued guidelines for SME exchange, and had set a minimum net worth criteria of Rs 100 crore (Rs 1 billion) for entity willing to start it.
  • Govt considering package for SME & export sectors: JALANDHAR: The government is considering a package to prop up small and medium enterprises and the export sector, which has been posting negative growth for three straight months.
  • WinWeb Offers Low Price Guarantee To Small Businesses & Home Offices.: Winweb offers all small business owners a low price guarantee on it’s OnlineOffice product, resulting in savings of over 75% on essential small business IT spend. In real numbers this means a saving of over $1,100 for US small businesses and over £680 for UK small businesses.

As always this list is not exhaustive, but I hope it will give you a little overview. — ST.

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