Businessmen Will Get Credit Facility With Business Training

Businessmen will get credit facility with business training, two services launched. There is good news for businessmen.

The All India Management Association (AIMA) has launched a six-month management course for the promoters and managers of Micro, Small, and Medium Enterprises (MSMEs).

AIMA said in a statement that the special purpose Management Skills Program is aimed at building the knowledge and competence of MSME traders with the new economy.

Online Course for MSME.

The launch of this course was announced at the 11th MSME conference of AIMA. This conference is being held online.

AIMA President CK Ranganathan, while addressing the conference, appreciated the support given by the central government to the MSME sector during the crisis of the coronavirus epidemic.

He said that the Emergency Credit Facility Guarantee Scheme for MSMEs has saved 13.5 lakh companies from bankruptcy and 1.5 crore jobs.

Credit facility for businessmen.

Meanwhile, online payment solution provider PayU has started a credit facility of 25 thousand rupees for small and big businesses.

This will benefit 3.5 lakh merchants associated with PayU. PayU has launched three products – Marketplace Early Settlement, Priority Settlement, and Merchant Lending.

These solutions provide access to capital. As well as manage cash flow and increase liquidity.

PayU’s solutions offer credit amounts ranging from Rs 25,000 to crores of rupees for SMBs. Their repayment can be done in 1 week to 1 year.

World Bank Estimates.

The World Bank estimates that Indian SMBs face a credit gap of $380 billion. This makes it difficult for them to meet short-term expenses and manage everyday tasks.

The new feature of PayU allows merchants to access funds in less than 30 minutes from the time of transaction. It helps businesses like travel and cab aggregators, financial services.

The government needs to take more steps to stop K-shape recovery of the economy: Raghuram Rajan.

Former Reserve Bank of India governor and economist Raghuram Rajan told the news agency that the government needs to take more steps to stop the K-shape recovery of the Indian economy.

Simultaneously, Raghuram Rajan said that the Indian economy has ‘some bright spots and many very dark spots’. He said that the government needs to spend with caution.