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Free payouts up to ₹5 Lakhs!

Free payouts up to ₹5 Lakhs!
By Team Swipez • Issue #16 • View online
Merry Christmas from the Swipez family! Here’s the latest news and updates from the world of MSMEs.
This week’s edition covers:
  • Union Finance Minister answers Rajya Sabha questions on MSME development
  • 4 out of 10 MSMEs have remodeled their business to survive, reports MSMEx
  • Make payouts worth 5 lakhs on Swipez for free!
  • A free app for you

In the news 📰
In a written reply to the Rajya Sabha, the Ministry of Finance states that the RBI with the SCBs (Scheduled Commercial Banks) has taken several measures to exempt credit to new MSMEs. 
  • Free credit is available up to ₹25 Lakhs per borrower for new MSMEs. The year-long exemption scheme ends on 31st December 2021. 
  • Further, RBI’s TReDS platform of 2017 has discounted over 26.64 lakh invoices amounting to ₹56,694.14 Crores, as of 3rd December 2021.
  • Distressed MSMEs are to be reprieved under the “Resolution Framework 2.0” with the threshold increased to ₹7.5 Crore from the earlier ₹5 Crore, enabling banks to assign lower risk rates to struggling MSMEs.
Impressive though the list may seem, with the year coming to a close and with it the tenure of many of the schemes, the future of credit flow for MSMEs hangs on a balance.
According to an online survey of 150 MSMEs across the nation conducted by the MSMEx, a walloping 70% report crippled operations due to the second wave of COVID.
Is there a silver lining to this dark cloud? 4 out of 10 MSMEs have not only survived but thrived by adopting digital solutions for their operations and making adjustments to their business model.
Asset-light models and easily managed cash flow are the pre-requisites for survival in a post-pandemic economic landscape, deduces Amit Kumar, CEO and Co-Founder MSMEx.
With 56% of the surveyed MSMEs strengthening their digital marketing and payment strategies, and 42% hoping to address delayed client payments, a robust online billing and payment solution is the need of the hour.
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One app we use...
Make to-do lists and organize your tasks for projects and team members. Assign tasks and track their progress and delays.
Todoist comes with a number of templates to help you get started. Manage tasks allocated to you, organise your own to-do list, create checklists for high-priority jobs, set a productivity target, and track your progress against that objective.
Their free plan for starters lets you handle up to 80 projects with 5 individuals each. One of the most effective project management solutions, it is productivity tool of choice for small and medium-sized companies.
To know more about the tools that can help enhance your productivity, read Swipez’s blog “Increase your productivity at work with these free tools.”
Drop us a line and let us know what you would like to see in the upcoming newsletters. Just like the Swipez platform this newsletter too is built with your feedback.
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