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Yes Bank becomes first Indian bank to conduct export finance transaction on RXIL’s ITFS platform
Yes Bank has become the first Indian bank to execute an export finance transaction on the International Trade Financing Services Platform (ITFS) of RXIL Global IFSC Limited. This strategic partnership allows arranging credit for exporters and importers from Indian and global institutions through Factoring, Forfaiting, and other trade financing services at competitive pricing with a quick turnaround using a digital platform.
RXIL Global to help MSMEs get early payment on export invoices through ITFS
MSMEs don’t have deep pockets and so often find themselves in trouble when it comes to realising payments for exports. But a trade platform offers them a way to discount their invoices and get cash in hand almost immediately.
Exim Bank to raise up to $4 billion this year
Exim Bank intends to raise around $3.5 billion to $4 billion this year to fund its government-backed business, said Harsha Bangari, MD. The bank's net profit for FY23 soared 110% to INR 1,556 crore ($209 million). It raised resources worth INR 52,156 crore, coupled with a foreign currency of $3.47 billion.
Exim Bank to raise upto dollar 4 billion this year
Export lender Exim Bank plans to raise $ 3.5 to 4 billion this year to fund its government supported business. The lender reported a 110 percent net profit of Rs 1556 crore for 2022-23 "Our foreign currency resources are mainly used to fund policy business ( issuing lines of credit through government). We are looking at raising $3.5 to $4 billion this year" said, Ms. Harsha Bangari, Exim Bank’s Managing Director.
ET MSME Awards: Last date for registrations extended to November 15; apply now
The registrations for the 3rd edition of the ET MSME Awards 2022 - a defining platform for rewarding and recognising the top Indian MSMEs have been extended to November 15. Apply now to be recognised among the top Indian MSME under 26 different award categories.
From Rachana Bhusari, R Narayan to Dr Glory Swarupa, Mabel Chacko & more, meet the jury of ET MSME Awards 2022
The jury members of ET MSME Awards 2022 will feature key leaders and stakeholders of the Indian MSME ecosystem including Dr. Glory Swarupa, Alok Kedia, Mabel Chacko, R Narayan, Rachana Bhusari, and Ketan Gaikwad.
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About Rs 10.7-lakh-crore stuck in delayed payments to MSMEs, amounting to 6% of India’s GVA
Delayed payments are a critical issue not only affecting MSMEs growth but disrupting the supply chains and denting the economy, but it's not unique to India.
RBI measures for MSMEs, contact-intensive sectors augur well for economy, say financial experts
The MPC decided, with a 5 to 1 majority, to continue the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy.
Setback for MSMEs, state-run companies hesitant of adopting TReDS despite govt diktat
At the heart of the problem is the pace at which CPSEs approve invoices, said Sundeep Mohindru, the chief executive officer of M1Xchange, a TReDS platform. These companies often take 45-60 days to approve invoices. By this time, the CPSEs also usually settle the payment.
Compulsory TReDS to ease payment woes for MSMEs, small companies
The Centre is seeking to cut through swathes of bureaucracy and speed up bill payments by getting its departments to compulsorily adopt the Trade Receivable Discounting System or TReDS. For the government, quick vendor payments should enhance competitive intensity — and lower its costs.
Choked by dues: What efforts are being taken to ease the biggest problem faced by Indian MSMEs?
The bottom of India Inc’s food chain — the MSMEs — feel the sting of late payments the most.
Trading platform for SMEs, TReDS, set to take off after three years
In just three months of operations, Invoicemart, the Axis Bank-backed TReDS platform, has so far discounted invoices worth Rs 130 crore while M1 Exchange, promoted by Mynd Solutions, has discounted Rs 75 crore worth of invoices.
Twelve stocks in focus in Friday morning trade
The Indian market is expected to open flat. Here is a list of top twelve stocks that are likely to be in focus today.
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