Leading SMEs of India 2021

21 g. Digital Payments: As part of the Digital India initiative, the Ministry of MSME has taken numerous initiatives to digitally enable the entire MSME ecosystem—all MSME offices have been digitally empowered, efforts have been taken to spread awareness on the benefits of digital mode of payments such as BHIM, UPI and Bharat QR code. As of December 2020, the number of digital transactions stood at 3,861,529. h. MSME-Sambandh: This portal was launched on 8th December 2017 by the Ministry of MSME. Central Ministries/ Departments/Public Sector Enterprises (CPSEs) are mandated to procure 25% annual procurement from MSEs— including 4% fromMSEs owned by schedule cast/schedule tribes and 3% fromMSEs owned byWomen entrepreneurs. The portal helps monitor procurement by CPSEs and enables them to share the list of required products or services from MSMEs. i. GrievanceMonitoring: TheMinistry ofMSME has started anMSME internet grievancemonitoring system (e-Samadhan) to help track and monitor the grievances and suggestions received in the ministry. The Ministry also attends to all the grievances on Centralised Public Grievance Redress and Monitoring System (CPGRAMS). j. MSME Samadhaan: MSME Samadhaan is a portal that gives information about pending payments with the Central Ministries, State Governments, etc., with respect to micro and small enterprises (MSEs). The government bodies are provided with a username and password to login and check the delayed payment with respect to MSEs. It also allows MSEs to track their delayed payments related complaint online. After 15 days of online filing, the case automatically gets registered with the MFEFC. k. National Scheduled Caste and Scheduled Tribe Hub: The National Scheduled Caste and Scheduled Tribe Hub provides professional support to SC/ST entrepreneurs to fulfill the obligations of the Government Public Procurement Policy. The Hub is also in-charge of collection, collation, and dissemination of information regarding SC/ST enterprises and entrepreneurs, capacity building among existing and prospective SC/ST entrepreneurs through skill training and EDPs, promoting participation of SC/ST entrepreneurs in exhibitions and organizing special exhibitions for this purpose, etc. Extended support from Reserve Bank of India & the Government During the outset of COVID-19, the central government launched intermittent packages with support from Reserve Bank of India (RBI) for the aid of small businesses. It included a mix of schemes, temporary tax benefits, relief in debt obligation payment and others. Overall, a relief packages of INR 20 lakh crore was released by the central government which included: o Term Liquidity Facility of INR 50,000 crore, with a tenor of three years at repo rate was provided by the RBI to ease access to credit for providers of emergency health services. o The RBI as a part of “Comprehensive targeted policy response” unveiled schemes to provide relief to individual and MSME borrowers. o Resolution Framework 2.0 was introduced by the RBI for Covid-related stressed assets of individuals, small businesses and MSMEs. o Special three-year long-term repo operations (SLTRO) of INR 10,000 crore at the repo rate for small banks were introduced to support MSMEs and unorganized sector. o RBI enabled the state governments to increase maximum number of days of overdraft (OD) in a quarter from 36 to 50 days and number of consecutive days of OD from 14 to 21 days to better manage their fiscal situation. o Credit Guarantee Scheme of INR 20,000 crore to provide support to stressed MSMEs. o Funds of funds scheme with a corpus of INR 10,000 crore to leverage equity infusion of INR 50,000 crore for the MSMEs. o The Government launched CHAMPION portal to provide guidance to MSMEs to grab new opportunities. Dun & Bradstreet