Editors' Take

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Editors' Take

Certified Credit Counsellors – Advisor to MSMEs

Certified Credit Counsellors - Advisor to MSMEs b-updated

The government of India (GOI) has laid thrust on the financial inclusion of those excluded in the development process. In the recent past, the government has introduced various schemes to evolve entrepreneurial India with a special focus on the Micro small and medium enterprises (MSME). Some of these schemes are Start-Up India, MUDRA, Stand Up India Make in India and Digital India. It has been felt to have a mechanism to link potential entrepreneurs with these
introduced initiatives and providing handholding especially in the area of credit, to begin with, and later in the related areas lie technology, skill, and marketing, etc. Let’s further discuss Certified Credit Counsellors.

Access to credit and handholding services are one of the key challenges being faced by the MSMEs. To address the issue, an institutional arrangement in the name of Certified Credit Counsellors (CCC) has been put in place under a framework laid down by the Reserve Bank of India. The scheme was launched by the Deputy Governor RBI on July 11, 2017. The role of Implementing and Registering the authority under the scheme is assigned to SIDBI to spearhead the initiative. Indian Institute of Banking and Finance IIBF) has been identified as Certification Agency and the services of CCCs shall be rendered through portal.

CCCs are a system of professional / counseling for MSMEs, which could help bridge the information gap and help banks to make better credit decisions. They can recommend the bank’s business proposals prepared by them. SIDBI has formulated the operational guidelines and hosted it on the udyamimitra portal, including FAQ.

The existing and potential entrepreneurs may avail of the services of the CCCs. The services shall be in the area of application filing, project report preparation, credit counselling, monitoring, access to subsidy support, etc. The names of the qualified CCCs shall be available in the portal and the loan aspirants can choose any based on their ratings given by the previous receiver of services. CCCs can charge a reasonable fee from the loan aspirants subject to a maximum allowed from time to time and mentioned in the portal. The bankers too shall be benefited in various ways. They will get the applications after preliminary scrutiny is done. Hence the applications shall be duly filtered based on the bankability of the proposals. The bankers will gain confidence as they will be in a position to make informed credit decisions. The sanctions will be faster and the potential entrepreneurs shall be encouraged to undertake the manufacturing and other commercial activities including services as they shall be able to access the financial system channel with greater ease and flexibility.

The following shall be the functions of a CCC:
  1. Identification of aspirant entrepreneurs;
  2. Preparing the application along with all the desired documents and information
  3. Verification of the primary information/data collected.
  4. Guiding and creating awareness about the schemes and facilities available.
  5. Processing and submission of applications online /offline to banks or financial institutions.
  6. Assisting in obtaining documentation, security charge creation and finally loan disbursements.
  7. Post-sanction monitoring
  8. Assisting in obtaining subsidy, if applicable.
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Editors' TakeTechnology


COVID 19 - DISASTROUS 2020 Business impact b-updated

Since the spread of Corona Virus (COVID-19) has increased; the manufacturing sector has planned to shift their units from China; emotional and Economic backlash against China is expected. COVID-19 have proven to be disastrous for China in 2020. Already, countries and companies are working on a strategy; to do away with China as part of their supply chain strategy. Japanese Govt has announced packages for its companies bringing back manufacturing home. Let’s further discuss the disastrous effects of COVID-19 in 2020.

Before the rise in the COVID-19 pandemic, the electronics industry witnessed modest growth globally. Electronic companies in India which are dependent on imports from China; are hoping that the effect of the COVID-19 outbreak would ease in the coming months with several factories in China ramping up their production after reopening.

However, hurdles rose in logistics, reduced footfalls in stores, and a drop in demand with the rapid spread of the virus to other countries, including India, have emerged as new challenges to the brands.

As the ongoing season proves to be a carnival for Consumer durables major, but it has given a blown away due to the upheaval in the normal flow of time. As they fear that they will lose out on peak summer sales as the ongoing lockdown is likely to have a severe impact on sales of air conditioners, refrigerators and other white goods.

Due to this outbreak, the consumers will also put a halt in their spending on the purchase of premium white goods products which will result in reduced demand. The COVID-19 impact will be felt on sales of appliances from March through May, which account for 30-35% of the total sales.

“The challenge which consumer durable brands may have to deal with both un-interrupted continued supply and well as generating the desired demand.“

For potential customers, health and safety will become a priority. Customers will tend to spend more on this area with reduced discretionary spending.

People will spend on cheaper goods than on expensive goods, or delay spending for a while.

Extreme acceleration in the digital economy. I.e. Home education, home entertainment, home fitness, etc. There have been overserved an increased demand in subscription of Netflix & Amazon Prime in India.

A pro-active step has been taken by the consumer electronics brands by extending their warranty on products; which were expiring in the duration of lockdown to connect well to the customers.

Brand Loyalty to go for a toss- People will be less loyal towards brands as other aspects will take over. Customers switching brands will become faster due to various other concerns like safety, discounts, etc.

Let’s hope that things fall in place soon with a continued livelihood.


-Ashutosh Sharma

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Editors' Take

India – after COVID-19 pandemic

India covid-19 pandemic finance articles b-updated

Covid – 19 has spooked one and all, from businesses and policy makers to economists and central banks, and led to a disruption of global value chains. But on the up side, as it is always said, every cloud has a silver lining, this article puts light on how this pandemic can prove to be a silver linning to india for manufacturing front and how it can make india stand out as one of the toughest countries that fought this era with courage.

Manufacturing Diversification towards India:

This unfortunate event has caused significant disruption to economic activity across the world as nations enforce lockdowns. China has been the biggest exporter of steel, chemicals, toys rare earths, mobiles electronics, garments bulk drugs and many other items in the world. Shutdown of manufacturing, transportation and shipping in various countries has disrupted supply chains of raw materials and end use products. Most of the companies worldwide have realized the risk of depending too much on one country for their sourcing needs.

Hence, there Is a scope for further diversification, which can result in better manufacturing opportunities for india leading to skill enhancements and job creation.

Important team player during Covid 19 :

India is the world’s largest manufacturer of hydroxychloroquine (HCQ), producing nearly 70 percent of the world’s supply. In efforts to curb virus by China, it demonstrated that anti malarial drug shortened the duration and reduced the severity of cough, fever and pneumonia in patients with mild and moderate disease. This relief has turned the world towards India and has made it an integral part of defence system towards Covid 19.

When successfully supplied to all required nations, india will prove to be an important team player in this crisis, strengthen India’s trust among other nations not for just during Pandemic but even for world economy after it.

The current scenario will not only help India in building better relations with other nations but also within the nation. All states are fighting against the pandemic together and hence, unity between state governments has enhanced.

To conclude, while the virus has affected the economy drastically, it will also help create more job opportunities and growth of new industries in the market. It can be taken as an opportunity to explore new business horizons.

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Editors' Take

NBFCs and MFIs in India during Covid-19

B-updated mfi nbfc covid-19 india

People often confuse the role of MFIs(Microfinance Institutions) and NBFCs(Non-Banking Financial Institutions). However, it turns out both aid with financial services, are different. NBFCs perform functions similar to banks in the absence of banks in rural areas. MFI stands for micro finance institutions and operate at a further smaller level than NBFCs. MFIs provide very small loans to the underprivileged sections of the society.

The RBI said on March 27 that it would lend as much as ₹1 lakh crore to banks under the TLTRO mechanism to ease funding pressure for corporates that was to be invested in primary and secondary market bonds and commercial papers in equal measure. It also reduced the repo rate to 4.4 per cent, the lowest in 15 years. The pandemic hit these institutions with the measures taken by the RBI on 27th March.

Both Sa-dhan, India’s largest microfinance industry body with 212 members, and Microfinance Institutions Network (MFIN), the industry grouping for NBFC-MFIs, separately urged the prime minister to take action.

MFIN said in its letter dated April 13 to the PM “We request you to direct the RBI to instruct all banks and other lenders to kindly pass on the same moratorium (benefit) to us, as all of us are giving to others. This simple step will go a long way to support the aspirations and livelihoods of millions of enterprising women across our nation,”.

On 17th April, along with reduction in the reverse repo rate to 3.75 percent, RBI also provided the much-needed liquidity support to non-banking financial companies (NBFCs) and microfinance institutions (MFIs) by announcing a second trail of targeted long-term repo operation window (TLTRO 2.0) of at least ₹50,000 crore. The Reserve Bank said it will conduct the first auction under the Targeted Long-Term Repo Operations 2.0 (TLTRO) for an amount of Rs 25,000 crore on April 23.

Under the TLTRO 2.0 window, banks can access three-year funding from the RBI to invest in investment-grade papers of NBFCs, with at least 50% invested in small- and mid-sized NBFCs and MFIs.

Within this, 10% will be invested in securities issued by MFIs, 15% in securities issued by NBFCs with asset size of ₹500 crore and below, and another 25% in securities issued by NBFCs with asset size of ₹500-5,000 crore.

The central bank will make available further liquidity under this facility, depending on the pattern of utilization and requirement, assured RBI governor Shaktikanta Das. The measure has aimed at maintaining liquidity in the system, facilitating and incentivising banks to ensure better credit flow and enabling normal functioning of the financial markets.

The funds availed under TLTRO 2.0 shall be deployed in investment grade bonds, commercial paper (CPs) and non-convertible debentures (NCDs) of Non-Banking Financial Companies (NBFCs),” the RBI said in a notification.

Out of the 50 per cent funds availed, 10 per cent should go for securities issued by micro-finance institutions (MFIs) while 15 per cent towards instrument issued by NBFCs with asset size of Rs 500 crore and below. Remaining 25 per cent to be earmarked for instruments issued by NBFCs with assets size between Rs 500-5,000 crore, it added.

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Editors' Take


b-updated, msme, business, role


The Micro Small and Medium Enterprises make up over 90% of total enterprises in most of the economies and generate the highest rates of employment. It also account for a major share of industrial production and exports. The MSMEs play an important role in the growth of industrial economy of the country.Indian Economy is no exception. In India, the micro small and medium enterprises is considered as the engine of growth and for facilitating equitable development in the country. The component of employment of labour in this sector is much higher than that of the large enterprises.

Present Policy Framework: 

The Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 facilitates the development of these enterprises and enhancement of their competitiveness. It provides the legal framework for recognition of the concept of “enterprise”, which comprises both manufacturing and service entities. It defines medium enterprises and seeks to integrate the three tiers of these enterprises, namely, micro, small and medium. It also provides for a State monitored administration at the national level with representation of all sections of stakeholders, particularly the three classes of enterprises

Employment Opportunities:

MSME sector in India creates largest employment opportunities for the population next only to agriculture. It has been calculated that an investment of approx. Rs 1 lakh in fixed assets in SSI sector creates employment for four persons. Not only this, the MSMEs also help in Industrialization of rural areas, reducing regional imbalances and assuring more equitable distribution of national income and wealth.

In fact, this sector is complimentary to the large industries and contribute largely towards the social and economic development of the country.  The MSME contributes significantly to manufacturing output, exports and employments of the country. In terms of value, the sector accounts for about 45% of the manufacturing and 40% of total exports of this country. It is estimated to employ about 6 Crore persons in over 2.6 Crore units throughout the country. There are over 6000 products ranging from traditional to high-tech items, which are being manufactured by 35 categories of MSMEs in India. It is well known that the MSME sector provides maximum opportunities for both self-employment and wage-employment, outside agriculture sector. MSME sector contributes not only to higher rate of economic growth but also in building an inclusive and sustainable society in countless ways through creation of non-agriculture livelihood at low cost, balanced regional development, gender & social balance, environmentally sustainable development and to top it all, proofing of recession in economic growth which the sector has proved time and again.


 The opportunities in the MSMES are extensive due to the following factors:

  • Less Capital Intensive
  • Extensive Promotion & Support by Government
  • Reservation for Exclusive Manufacture by MSME
  • Funding – Finance & Subsidies 
  • Project Profiles
  • Raw Material Procurement
  • Machinery Procurement
  • Technical & Managerial skills
  • Tooling & Testing support
  • Manpower Training
  • Export Promotion
  • Growth in demand in the domestic market size for products and services of MSME.
  • Reservation of items for exclusive purchase by government
  • Increasing Export Potential for products and services.
  • Growth in Requirements for ancillary units.

The promotional and protective policies of the government have ensured the presence of MSME in an unbelievable range of products, especially in consumer goods. However, the handicap of the sector has been the inadequacies in capital, technology and marketing. The process of liberalization along with Government support will attract the infusion of just these things in the sector. The MSME sector has performed remarkably well and enabled our country to achieve a wide measure of industrial growth and diversification. By its less capital intensive and high labour absorption nature, the sector has made significant contributions to generate employment and increase rural industrialization. This sector is optimally suited to build on the strengths of our traditional skills and knowledge, by introducing latest technologies, easy capital and innovative marketing practices. 

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Editors' TakeMotivationalMotivational PoemsPoems

You can be you

motivational poem, b-updated, poetry, motivation

You’re alive
For what you behold inside.
A drug, that you’re holding onto.
Something that you’re feeding on

Nothing you can’t do,
Nothing you can’t give up on.
Feeling what you want to
Being what you are

Pretending is the new normal
Start being informal
For whatever you have
Will help you build more

Thoughts create emotions
Mistakes create experiences
Procrastinating won’t help
Push yourself for more

Feel it now
Tomorrow isn’t for sure.
What’s outside? The pandemic
Inside? The thoughts.

It’s all a blessing, you’ll only know when it’s the last
Like the wind touches the ocean
Your mind touches your soul

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Editors' Take



One thing that has taken the whole world by storm and brought a pause to everyone’s life is a coronavirus. The number of cases and the death toll is increasing day by day. We all need to come together to win the fight against coronavirus. There is no vaccine or treatment available yet to deal with the virus. So, in this scenario, the ideal way to deal with it is social distancing and isolation. Apart from that, some other measures should be kept in mind to win the fight against coronavirus.



The importance of handwashing can’t be stressed upon enough. Forget the way you used to wash hands till now and learn the right way to do it. The majority of the population doesn’t know the right way to wash their hands. They should be washed for 20 seconds with adequate soap and water following the steps given in the picture. If alcohol-based sanitizer is being used then also follow the same steps.


It has been observed that the severity of the virus is more in the persons who are suffering from any co-morbid conditions like Diabetes or are immunocompromised. It is necessary to boost your immunity so that the body can fight with the virus. As advised by the Ministry of AYUSH, some measures to do so are – a) Drinking warm water throughout the day. b) Practicing Yoga, Pranayam, and meditation. c) Using spices like Haldi (turmeric), garlic while cooking. d) Taking essential vitamins like Vitamin C to boost your immunity.


In a study, it has been found that the virus can stay on surfaces for certain hours. According to it, it stays on copper for 4 hours, on cardboard for 24 hours, and on plastic or steel for up to 72 hours. So, whenever you go out to get your essentials, try not to touch anything and once you are back home disinfecting your mobile and everything. Any article that comes from outside should first be disinfected. The fruits and vegetables should also be thoroughly washed.


The main mode of transmission of the virus is through respiratory droplets and surface contact. So, use your elbow or tissue while you are coughing or sneezing. Don’t use your hands as you can infect other surfaces and also you can touch own face with them. Use a mask if you are having a cough. It is one of the symptoms of the disease but alone not a very important one.


In a study, it has been seen that a person touches his face 23 – 26 times per hour. As the virus spread through respiratory droplets or by surface contact, so if you touch something infected and then touch your face with the same hands then the virus can enter the respiratory tract through the nose. So, it is important to take care and not to touch your face at all.

*cover image source: World Health Organisation

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Editors' TakeTechnology

PM Modi encouraged the download of Aarogya Setu APP, Experts raise privacy concerns.

Aarogya setu, Covid-19, App, India, Corona Virus

Aarogya Setu app that was launched in March of 2020 to tackle the community spread of pandemic COVID-19, was encouraged to be downloaded by Prime Minister Narendra Modi when the addressed the nation on Tuesday. The app enable contact tracing using smartphone location and Bluetooth have crossed of 5 million installs in just 3 days of its launch. Since the app is using smartphone’s GPS and Bluetooth to identify the potential spread of infection, it can be used by used to exactly trace the location of the user and the app asks to allow the location tracking even in the background.

“Download the Aarogya Setu mobile app to help prevent the spread of [the] corona infection. Inspire others to download the app as well,” said Prime Minister Narendra Modi while addressing the nation.

This was not the first time when Prime Minister has encouraged the download of Aarogya Setu app. He even posted on social media a few days back, the link to download the app for both Android and IOS devices.

Additionally, the Aarogya Setu app download has been promoted by various commercial banks by sending a text message to their customers urging them to download the app that has been developed by the National Informatics Centre (NIC). The initial push helped the app to be downloaded over 5 million times from the time it was launched. As tweeted by the Program Director of Frontier Technologies at NITI Aayog, earlier on Tuesday, the app crossed the mark of 40 million active users within two weeks of its launch.

The Aarogya Setu app was also praised by World Bank and similar app is being developed by Singapore to place same limit on the community spread od Covid-19 pandemic. Apart from all the good this app bring, the way Aarogya Setu works has raised a lot of privacy concerns. The India division of the New York City-based Software Freedom Law Center ( said that Aarogya setu collects sensitive personal data such as a person’s gender and travel information that it stores in the cloud.

Nonetheless, as per the latest mention by the Prime Minister on India, the app will boost in downloads as we saw in the past, with Coronavirus Whatsapp chatbot that crossed over 1.7 crore users in the short period of 10 days of its launch.

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Editors' Take


Artificial Intelligence, E-PatientsFuture of Medicine, Future, Future of Pharma, Genomics, Health Sensors & Trackers, Medicine

One field that has seen a drastic change over the years is medicine. 3D printed body parts, gene technology, artificial intelligence and a lot more – the future is truly upon us. Medical breakthroughs are being made every day over the globe. 

Here is a list of the ten most profound medical innovations that are going to change the future.

1.    Artificial Intelligence.

In this age of technology, artificial intelligence knows no bounds. AI is saving and changing lives today. It is not intended to displace clinicians or clinical judgment but it serves to enhance the interaction between patient and doctor. Its application is in image analysis, decision support and patient triage. Decision support systems quickly decipher the huge amount of data present in the Electronic medical record. It highlights the problem areas on the image scans and helps in the correct diagnosis of the problem. It also reduces the huge load of the already overworked physicians by asking patients a series of questions about their symptoms. With AI integration it will be about working smarter and finding solutions.

2.    Advancement in Immunotherapy for cancer treatment. 

Immunotherapy is the use of the body’s own immune system to fight with cancer. The market for immunotherapeutic drugs has seen an unprecedented number of FDA approvals. One of the most notable advancement is of joint therapy. In patients with metastatic non-squamous non-small cell lung cancer, joint therapy has been incredibly effective. Also, there is an integration of immunotherapy with chemotherapy. Another innovation involves the use of engineered T cells. With discoveries every day, there is hope that treatment will soon be available for all the tumor profiles.

3.    3D printing to make patient-specific products.

Utilizing this technology, medical devices are now being matched to the exact specification of the patient leading to greater acceptance by the patient’s body, greater comfort. Some noteworthy applications include external prosthetics, cranial/orthopedic implants and customized airway stents for the diseases which narrow the airway. Another application is the printing of the normal anatomy of humans and providing vidual aid in surgical planning. 3D printing with its wide applications has now become a trendsetter in customizing patient care.

4.    Robotic surgery.

An extension of the physician’s hand, robotic surgery provides pinpoint accuracy. Using a controller like an interface, this technology increases safety while decreasing invasiveness, recovery time and pain after the surgery. Robotization is also reaching the endovascular procedures like a percutaneous coronary intervention to the spinal surgeries. With continued advancement in the field, surgeries performed will be the shortest and least invasive with time.

5.    RNA based therapies 

Similar to DNA based technology, RNA based therapy is the newest innovation and it has shown great potential. By interfering with genetic data at the RNA level, the scientists can obstruct the genetic abnormality before it is translated into non-functioning proteins. This is being explored in a variety of rare genetic diseases like Huntington’s disease, familial hypercholesterolemia, age-related retinitis. RNA based technology is opening windows for progress in therapeutics.

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