About the author
Dr. Deepak Kumar Senior Manager (Research) ULA, C&P Union Bank of India
Arbind Singh Chief Manager (Faculty) ULA, C&P Union Bank of India
Avijit Kumar Agnihotri Chief Manager (Faculty) ULA, C&P, Union Bank of India
Introduction: The Micro, Small and Medium Enterprises Development Act was notified in 2006 to address different issues affecting MSMEs, inter alia, the coverage and investment ceiling of the sector. The earlier criterion of classification of MSMEs under MSMED Act, 2006 was based on investment in plant and machinery / equipment. A revision in MSME criteria of classification was announced in the Aatmnirbhar Bharat package on 13th May, 2020. This has been done in order to be realistic with time, to establish an objective system of classification, and to provide ease of doing business.
Micro enterprise: Investment in plant and machinery or equipment does not exceed one crore rupees and turnover does not exceed five crore rupees.
Small Enterprise: Investment in plant and machinery or equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees.
Medium enterprise: Investment in plant and machinery or equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.
According to the National Sample Survey (NSS) 73rd round, carried out by the National Sample Survey Office, Ministry of Statistics & Program Implementation, there were 633.88 lakh unincorporated non-agricultural MSMEs in the country, Out of which:
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Diese Geschichte stammt aus der December 2023-Ausgabe von BANKING FINANCE.
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The Future Of Banking: Voice Banking
The Banking industry has undergone a series of transformative changes over the years, driven by technological advancements. One of the most exciting and disruptive innovations in the financial sector is voice Banking.
RBI CIRCULAR
1. Please refer to paragraph 4 of Statement on Developmental and Regulatory Policies issued as a part of the Bi-monthly Monetary Policy Statement for 2024-25 dated April 05, 2024 read with Paragraph 1.10 of the 'Operating Guidelines for Small Finance Banks' dated October 6, 2016.
UNLOCKING SOCIAL IMPACT: THE RISE OF SOCIAL BONDS IN SUSTAINABLE INVESTING
In the context of financial markets, social bonds refer to a specific type of bond issued by governments, municipalities, or organizations to raise capital for projects with social or environmental benefits.
MODERN AND CREATIVE WAYS OF MONEY LAUNDERING: A SNEAK PEEK IN MODUS OPERANDI
Every year, an astonishing $800 billion to $2 trillion circulates through the global economy as laundered money, making up 2-5% of global GDP.
TRANSFORMING FINANCE: UNDERSTANDING THE EVOLUTION OF FINTECH INNOVATION AND REGULATORY FRAMEWORKS
The constantly evolving field of financial technology, or FinTech, has brought about a significant transformation of the world's financial scene.
FINTECHS: ISSUES AND CHALLENGES
Fintech is a combination of two words \"financial\" and \"technology\".
WHY CBDC WHEN WE HAVE UPL..??
The world is rushing to develop Cash 2.0. Globally, central banks are in pursuit of Central Bank Digital Currency (CBDC) projects.
Insolvency's Group Tangle
The Insolvency and Bankruptcy Code (IBC) has been around for nearly seven years, and in these seven years, it has been amended six times. However, it is yet to address a significant concern: group insolvencies.
Why mot retirees don't find refuge in reverse mortgage
It would be the deal of the century, or so Andre-Francois Raffray could have thought. The Frenchman had in December 1965 stuck a deal with 90-year-old Jeanne Calment to pay her 2,500 francs every month until she died.
The rise and rise of mutual funds
It is curious that the cake cutting and champagne popping that accompanied the Nifty's new lifetime high in recent weeks, was not in evidence when the mutual fund industry topped Rs. 50 lakh crore in assets.
