SIDBI Make in India Soft Loan Fund for Micro Small & Medium Enterprises (SMILE), launched by Union Finance Minister on 18th of August 2015.
The detailed discussion on the Fund was delivered by SIDBI Branch Head in Coimbatore Last week in a Cluster Level Intervention Program in which VRNC is part of. The details of the fund is as follows.
SMILE for All!!!
Objective of SMILE:
To provide soft loan,in the nature of quasi-equity,and term loan on relatively soft terms to MSMEs to meet the required debt-equity ratio for establishment of an MSME as also for pursuing opportunities for growth for existing MSMEs
Target MSME Sector:
All the 25 the identified 25 sectors or other sectors as may be added, in the Make In India Programme. Deserving proposals from any other sector can also be assisted on merits.
Eligible Enterprise
New enterprises in the manufacturing as well as services sector. Existing enterprises undertaking expansion,modernization,technology upgradatio or other projects for growing their business will also be covered. Loans extended under the scheme cannot be used for repayment of earlier loans.
Minimum Promoters Contribution:
5% of project cost for projects up to Rs.1 crore and 20%for the rest
Are you an MSME planning an expansion? Purchase of New Machinery? Or already invested in this FY through a loan? You have an opportunity to get government support as an interest subsidy on your investments through the ADEETIE Scheme?
Empowering MSMEs: Leveraging the POSH Act for a Sustainable Future
When we talk about business sustainability, the conversation often steers toward environmental impact—reducing carbon footprints, adopting green energy, or minimizing waste. However, true sustainability encompasses the entire ESG (Environmental, Social, and Governance) spectrum. For Micro, Small, and Medium Enterprises (MSMEs), the “Social” pillar is just as crucial for long-term survival and growth.
Why are we discussing POSH now? When companies encounter challenges in a new way, we often go into panic and try to do all sorts of nonsense activities to get out of the trouble. When we are in the process of building a great organization which is expected to last for generations, we must work to address the issues behind the problems. So better now than later!!!
We work with a new generational workforce; the present work environment is changing. Thought processes are changing; hence, our approach towards the workforce has to “Meet their Expectations”. The expectations are always simple: “Good Work Environment with less or no Toxic behaviours”.
We in Tirupur have evolved our HR practices over three decades, with compliance and adoption of best practices. We involve more than 80% of women as workforce, and are supervised by 100% of men managers and executives. Our industry has been in a firefighting mode rather than well prepared when it comes to meeting the requirements and deadlines of customers. Under these circumstances, creating a “Happy – Good – Equality – Work Environment” is challenging but achievable and is the need of the hour.