In order to promote and incentivize the entrepreneurial ecosystem in the country startups have been exempted from 9 labour laws for a period of 3 years as per the notification of labour ministry of India dated 12th January 2016.
The 9 labour laws are:
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has on 6th January 2016 given its approval for the creation of a Credit Guarantee Fund for Micro Units Development Refinance Agency (“MUDRA”) loans and to convert MUDRA Ltd. into MUDRA Small Industries Development Bank of India (“MUDRA SIDBI”) Bank as a wholly owned subsidiary of the Small Industries Development Bank of India (“SIDBI”). (more…)
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has on 6th January 2016 sanctioned the “Stand Up India Scheme” (“Scheme”) to promote entrepreneurship among Scheduled Caste/ Scheduled Tribes (“SC/ST”) and Women entrepreneurs. The Scheme is intended to facilitate at least two projects per bank branch and on an average one for each category of entrepreneur. The key features of scheme are as detailed below: (more…)
The Prime Minister of India has with the objective to harness the micro businesses in India launched the Pradhan Mantri Micro Units Development and Refinance Agency (“MUDRA”) Yojana on 8th April, 2015. (more…)
