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MSME Champions Portal: Comprehensive Support for Indian MSMEs

 Prime Minister Narendra Modi introduced the MSME CHAMPIONS portal on June 1st, 2020. The complete form of CHAMPIONS is the Creation and Harmonious Application of Modern Processes for Increasing Output and National Strength. You can visit the portal at https://champions.gov.in. It serves as a one-stop shop for handling new setups during these trying times and complaints from MSME’s. Introduced by the Ministry of Micro, Small, and Medium Enterprises , MSME-Champions is a technology-driven centralized control room, grievance management, and information platform. The portal’s goal is to give MSMEs a one-stop shop, assist small businesses in expanding, and settle their complaints while also helping them with other aspects of the company. An overview of the MSME Champions Portal : Redress, remedies, and settlement are all available on the CHAMPIONS portal MSME. Quickly, the ministry’s building’s spare space becomes the physical infrastructure for the control room. The system, which was cre
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Fintech and Financial Inclusion: The Role of Microfinance

  Low-income individuals and groups that would not otherwise have access to financial services can make use of microfinance, also known as microcredit, as a form of banking service. FinTech is the use of technology in the financial industry, mainly by financial institutions. The number of people looking for money or investments to start virtual communities and online marketplaces is rising. However, since the financial crisis, banks have tightened their guidelines on consumer lending, making it more challenging for low-income people and enterprises to get loans. Easy and flexible digital lending enables people, businesses, and governments to use FinTech to satisfy their requirements. One of the main advantages of financing is its ability to promote financial inclusion. Due to low income, lack of collateral, and remote locations, people who are not eligible for standard banking systems can get financial services from microfinance groups. Digital Microfinance fills the gap and integrates
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The Growth of MSME: Key Objectives & Benefits of the RAMP Scheme

  The Raising and Accelerating MSME Performance (RAMP) scheme was launched by Prime Minister Narendra Modi on 30 July 2022 and executed by the Ministry of MSME, Government of India. With the support of the World Bank, the scheme aims to enhance the performance of micro, small, and medium enterprises (MSMEs) in India. This programme was launched as a solution to the general and covid-related issues faced by the MSME sector. The RAMP scheme is focused on expanding the size and scope of MSMEs in the states of India while enhancing the impact of existing schemes. This will also strengthen the Atmanirbhar Bharat Mission by encouraging innovation, motivating new ideologies, and nurturing entrepreneurship and new business ideations by establishing quality benchmarks, improving market accessibility, and implementing ultra-modern technologies and digital solutions. The objectives of the MSME RAMP scheme Improved market and credit access Connecting MSMEs with international and local consumers
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Everything to know about the SFURTI scheme: full form, eligibility, and objectives

The Ministry of MSMEs and the Government of India introduced the SFURTI Scheme in 2005. The SFURTI scheme's full form is the Scheme of the Fund for Regeneration of Traditional Industries. The scheme aims to establish collectives among traditional industries' artisans and producers to support them in producing competitive, high-quality goods that will guarantee the sector's future viability. The SFURTI project vision is to increase artisanal income by focusing on the development of physical infrastructure, technology upgrades, training, product development, creative interventions, marketability, better packaging, and marketing infrastructure. Traditional industries are broadly categorised into three main types: Khadi Industries, Village Industries, and Coir Industries. Eligibility for the SFURTI scheme and Cluster Criteria: These are all the eligible individuals and groups that can apply for the SFURTI Scheme: 1. Non-government organisations (NGOs) 2. Institutions of the C
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