The Micro, Small & Medium Enterprises (MSME) sector is the backbone of the country’s economy. The sector contributes 29% of the GDP, 50% of export and employ 11.10 crore people of India. What will be the financial implications of the coronavirus disease (COVID-19) on the vital sector, and how is the MSME-focused Prest Loans placed
As the Union Budget 2020-21 round the corner, Ashok Mittal, CEO of New Delhi-based Fintech Prest Loans shares his Budget wishlist with SH. Here is Mittal’s first-person account: By Mrinmoy Bhattacharjee Reintroduce Infrastructure Bonds The government had provided a deduction of up to Rs 20,000 in respect of subscription to notified long-term infrastructure bonds in the
“We expect that all the steps and Budget 2019 announcements shall start showing results in the next couple of quarters and we shall see a rebound in the financial sector led by NBFCs, especially focused on MSME funding.” New Delhi-based Fintech Non-Banking Financial Company (NBFC) Prest Loans has termed the maiden Budget of Modi 2.0
GST compliance by MSMEs has resulted in faster loan approval and disbursement, says Ashok Mittal, CEO, Prest Loans What has been the impact of GST on the Indian economy, and fintechs operating in the MSME lending space? GST is the biggest tax reform in India on the concept of one tax instead of multiple taxes
The New Delhi-based Fintech NBFC converts non-financial data of small businesses into credit score to be able to offer them loans By Mrinmoy Bhattacharjee Balvir Singh, a small but long time and reputed building materials trader from Noida, could not avail a loan from the bank as the financial institution does not lend monies against
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