The post BSE signs MOU with Federal Bank to list SMEs first appeared on Corp India News.
]]>The collaboration will enable BSE to take advantage of Federal Bank’s SME and Startup clientele to encourage them regarding listing their companies on the stock exchange.
Ajay Thakur, Head of BSE, SME and Startups, said: “We are excited to partner with Federal Bank, and this collaboration will enable us to tap the large SME & Startup client base of Federal Bank spread across the country and educate them on the benefits of listing.
He further said that this step is stepping stone in BSE’s endeavour to further penetrate the SME and Startup ecosystem and provide them with the platform for equity financing.”
BSE, India’s premier stock exchange and a leading private sector bank, Federal Bank, will jointly evaluate the SMEs and startups undergoing the listing process.
Harsh Dugar, Group President and Country Head, Federal Bank, said: “We are delighted to partner with BSE on the SME and Startups space. As one of India’s foremost tech-led banks, this is an area of sharp focus for us. Our full-stack product suite and our deep understanding of this sector make us a banker of choice to the SME ecosystem, and we are confident of significant synergies that both our institutions can derive from this partnership.”
It is to be noted that there are 364 SMEs listed on the BSE SME platform, and 14 companies have been listed on BSE Startups platform until today.
The post BSE signs MOU with Federal Bank to list SMEs first appeared on Corp India News.
]]>The post Another GeM in the Crown: Govt e-Marketplace crosses Rs 1 lakh crore order value first appeared on Corp India News.
]]>The Prime Minister wrote on Twitter, “Happy to know that @GeM_India has achieved order value of Rs 1 Lakh Crore in a single year! This is a significant increase from previous years. The GeM platform is especially empowering MSMEs, with 57% of order value coming from MSME sector.”
Minister of Commerce & Industry Piyush Goyal also shared a short video and congratulated the stakeholders of GeM for their contribution towards the Government’s vision of AtmaNirbharBharat.
The Union Minister Tweeted,” Today, GeM has clocked order value of INR 1 Lakh crore in a single year in FY 2021-22. Congratulations to all stakeholders especially the sellers in MSME sector, women entrepreneurs, startups, weavers and artisans in continuing to contribute to the vision of an AtmaNirbharBharat.”
As per the government data, order worth Rs 422 Crore were placed in the initial year, which rose to a whopping Rs 6,188 Crore in the next year. The web portal registered Rs 38,500 Crore orders in the pandemic year of 2020-21 that increased up to 160 per cent crossing the mark of Rs 1 lakh crore in the current financial year.
Reportedly, the launch of the ‘Womaniya’ scheme for women entrepreneurs and women-led self-help groups or SHGs, selling their handicrafts, handloom, accessories, etc. directly to government ministries and departments, and training of women entrepreneurs by various national and state women organisations is considered to be one of the reasons of the growth of GeM.
About GeM:
Government e-Marketplace (GeM) is a digital marketplace where local vendors provide common user goods and services to Government officers. Modi Government began this initiative to bring transparency in government offices and give a push to SMEs. The purchases through GeM by Government users have been authorised and made mandatory by the Ministry of Finance by adding a new Rule No. 149 in the General Financial Rules, 2017.
The post Another GeM in the Crown: Govt e-Marketplace crosses Rs 1 lakh crore order value first appeared on Corp India News.
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