Q&A library

Want to start a tailoring training centre and merge with a new unit of tailor shop for stitching new garments. How can I do that. What process should I follow
Questioned by Abdul Kalam Khan, Odisha
Its an excellent idea to merge it. There is no fixed process except that you need to define if both will operate with interdependencies. For example, will the students from the training centre be interning or working as apprentices in the tailor shop. Also you need to plan how to divide the equipment you have between the shop and the centre, and how you need to ensure that machines are not under or over utilized.

I want to start teaching online for students around the globe. How can I start?
Questioned by ASRAF UL ISLAM, Odisha
It would depend on he kind of students you want to teach. For example: if you want to teach school students then global may not possible now as there are multiple parameters that restrict this line. However if you want to teach something more on skills development ( like Programming, Sales, Soft skills etc ) look at your current capability to teach globally. Focus on your credentials that would make people come to you for learning. You could start with a video learning channel on YouTube and then progress to collaborate with companies like Udemy, Teachable,WizIQ,Coursecraft, Skillshare etc. It would be good to start first with some free courses to be run on their platform and once you get better traction you can make them chargeable .

I own a manufacturing firm but not getting enough funds to run the business. Please suggest any non-collateral loans that can be availed.
Questioned by Bijay Choudhary, West Bengal
Finance Minister, Nirmala Sitharaman had recently announced on 13 May, 2020 that collateral-free loans will be given to businesses including MSMEs to help them sustain in the economy which is greatly affected by COVID-19. With this loan, the MSMEs which have been struggling to survive and need additional funds to purchase raw material and restart their businesses can avail of this loan as part of the relief package offered by the government of the country. Mudra Yojana started under the Jan Dhan Yojana, provides collateral free loans. Three types of loans are disbursed under the MUDRA yojana and the borrowers are not required to provide any collateral or security for availing this loan. The three free collateral loans available under Mudra loans are Shishu, Kishore and Tarun. Various Public and private sector banks, regional rural banks, MFIs, NBFCs and co-operative banks function as MLIs (member lending institutions) to the borrowers under the Pradhan Mantri MUDRA Yojana (PMMY). The other options are Crowd Funding, Angel investment, bootstrapping etc.

How can I get Instant loan to start my second venture of manufacturing and trading of sanitization and healthcare products. I need Rs. 15 lakhs. I have applied for Mudra loan for 10 Lakhs, what else can I do?
Questioned by Sunilkumar ramchandr Azad, Gujarat
There are other ways to source funds with collateral, which support facilities/systems that are being provided to customers coming under the MSME categories - by Government and Financial Institutions alike. Emergency Credit Line Guarantee Scheme (ECLGS) or Guaranteed Emergency Credit Line Scheme (GECL) is a part of COVID-19. Loan by the Government of India for MSME units in the current scenario of COVID-19.

I am an E-Commerce specialist with 5 years experience in the field, I have been working as a freelancer in Amazon.in E-commerce platform. Now, desirous to start my own online business on Amazon. Need some financial assistance. How can Restart India advise and help me. Thank You
Questioned by John Martin, Haryana
As you are willing to start online business of your own, concrete business plan is necessary. It is good to be specific regarding the cost to be incurred such as premises, hardware, software, staff, cash flow, future projections etc. As you have 5 years’ experience in Amazon as an E-Commerce specialist you might not have to face problems regarding funding as Amazon is a big brand and lenders will have confidence in providing financial assistance. Once your business is established and profits start coming in, new challenges may arise such as material requirement, revenue expenditure, expenditure on acquiring additional assets, investing profits for future business growth etc. For all this you will require a mix of various types of finances to cater to your business needs. There are online companies like Lendingkart <https://www.lendingkart.com/business-loans/> and others who can help arrange funds based on the business requirements.

My profession is made of homemade food. But after this crisis I am not able to start again. So please suggest is there any way to start again.
Questioned by Kanchan Gulati, Delhi
Homemade food is more in demand than the food from hotels or restaurants. Be creative with your menu, focus on its health benefits and ensure that you follow as well as share the safety and cleanliness steps you are undertaking. It will give your clients more reassurance. Prepare ad creatives with pictures of high hygiene standards to win people's trust. Also try to tie-up with home food / home chef aggregators like Masalabox or its equivalent in your city.

How do I develop order service business?
Questioned by Rajkumar, Uttar Pradesh
For the growth of the business you need to market your services. For marketing to work for your business you may follow these activities, step by step. Find the time - you have to free up time to invest back into your business. Set a goal for how many hours you want to invest in the growth of your business. Invest the time - don’t fall into the trap of tackling projects that have been occupying your time and effort for a long time but have little impact on your business. This is valuable time that could change the course of your business. Make a plan - think about what you want marketing to do for your business, how will you get there? Don’t over engineer your plan - Start small and take notes on what is working and what is not. Relationships first - when you take your business online you will be able to introduce yourself to new customers and re-introduce yourself to existing customers. Make sure that when you start opening this new channel up for your business, you have a system in place to organize your customer information so that each transaction and order is attached to your customer’s profile. If you set this up from the beginning, you will have a wealth of information that will help you get to know your best customers better and to market more efficiently in the future. Keep marketing - your marketing efforts should become part your business model, something that is ongoing and consistent. This consistency will help drive a flow of new leads. Additionally, share recent projects/works on your website and on social media that highlight your customer as well as your great work to keep your customers engaged.

Is there any financial support for Maruti Suzuki authorised service during the current scenario? I am facing a big financial loss, please help me with some suggestions.
Questioned by AMBIKA CHARAN PATTANAIK, Odisha
As far as Maruti Suzuki authorised service centres / dealers are concerned – Maruti Suzuki had offered an 800 Cr package initially, which included one-month interest waiver on inventory for dealers. RBI had provided relief in the form of moratorium (optional) as well. But, given that dealers are not yet identified as an MSME by Government, they were not qualified for the special package announced by the Union Government. Now as the sales has started moving up the dealers can draw from their existing inventory limits / trade advance given by banks and NBFCs.

I have a small retail activity of men's cotton wear for the last 3 years in my native place (a B class town (Municipality) and running on loss. As a cost cutting measure, I have terminated one staff member and now I am thinking of setting off the overdraft facility and a personal loan which I have with a Government Bank which will relieve me from my monthly payment of interest and monthly instalment. Could you be kind enough to give me your valuable advice on the subject?
Questioned by Manjaliyil John Benny, Kerala
• Government is offering a distress plan for MSME 's to cope with the short term loss. You may avail the distress loan if you are planning to continue the business.The “Distressed Asset Fund - Subordinated Debt for Stressed MSMEs” is a scheme framed by Ministry of MSME under which credit facility will be provided to the Promoters of the stressed MSMEs by Scheduled Commercial Banks (SCBs) for infusing the same as equity/quasi equity/ sub-debt in the unit. MSME units such as Individuals / Proprietorship, LLP, Partnership, Private Limited Company or registered company are eligible to be covered under the scheme. The Scheme is applicable for those MSMEs whose accounts have been standard as on 31.03.2018 and have been in regular operations, either as standard accounts, or as NPA accounts during financial year 2018-19 and financial year 2019-20. Fraud/ Wilful defaulter accounts will not be considered under the proposed scheme. The Scheme is valid for MSME units which are stressed, viz. SMA-2 and NPA accounts as on 30.04.2020. These are eligible for restructuring as per RBI guidelines on the books of the Lending institutions.• As much as 1.50% per annum on the guaranteed amount on outstanding basis.• Guarantee fee may be borne by the borrowers as per the arrangements between the borrower and the MLIs. The guarantee coverage will be provided to the eligible borrower for the credit facilities extended under this scheme. Under this arrangement, promoter(s) of the MSME unit will be given credit equal to 15% of his/her stake (equity plus debt) or Rs 75 lakh whichever is lower. The financial assistance provided as part of the scheme is to be operated as a separate loan account and the promoter need to infuse the sub-debt / loan amount as promoter’s contribution in the form of equity (including sub-debt or quasi equity) into MSME entity.• The objective of the scheme is to provide credit facility through lending institutions to the promoters of stressed MSMEs viz. SMA-2 and NPA accounts who are eligible for restructuring as per RBI guidelines on the books of the Lending institutions.• The Scheme will be applicable to sub-debt sanctioned under CGSSD for a maximum period of 10 years from the guarantee availing date or March 31, 2021 whichever is earlier, or till an amount of Rs 20,000 crore of guarantee amount is approved. All MSME borrower / entities who are stressed viz. SMA2 and NPA accounts and are eligible for restructuring (as per RBI guidelines) and are commercially viable as per the assessment of the lending institutions. For availing this sub-debt, the unit must be in running condition and operational.For more details, visit the Resources section of our website. https://restartindia.in/assets/pages/resources/attachments/Distressed_Assets_Fund_Subordinate_Debt_for_Stressed_MSMEs-df932c7f07920f40ab7f380d31cf46d2f4909b20ab447ae154c0400530e4dac3.pdf NBFCs are not allowed under the sub-debt scheme. Presently, Scheduled Commercial Banks only are eligible. Please address your queries/suggestions to querysubdebt@cgtmse.in.(Source: http://dcmsme.gov.in/)

I am a fashion designer. I have a boutique and garment unit in Trivandrum. After Covid 19 issue came I can't doing my business properly. Can u give me good suggestions for running my business. Thank u
Questioned by Asha Priyadarshini, Kerala
As a fashion designer, this might be a good time to build up a strong portfolio. If you are forced to be indoors in this season, try to get creative around your home. Use items around your home and invest time to create things (clothes, designs, art, etc) and publish your work on social media such as Instagram or Dribbble. Doing so could help you strengthen your brand, and make a connect with people online. Use this time to create online relationships. Such relationships could help you create business digitally- and most likely attract a lot more customers than you previously used to.

#RestartIndia Response Network
*Note Our Privacy Policy provides useful information to you while using and accessing this website. We will do our best to keep this website as complete, accurate and up-to-date as possible. We cannot guarantee that all information published or responses to your questions made in this website will at all times be complete, accurate and up-to-date. You agree to use the information on this website, specific question responses or follow the advice given or solutions recommended at your own risk and you will not hold us, our representatives, affiliates, any external experts, partners, service providers, individuals or organizations who are directly associated with this website, liable for such responses or advice or solutions. We will take legal action against you if your post contains offensive, hateful, violent, defamatory, or obscene content as opposed to our guidelines. We will delete all such posts and you will be blocked and banned from using this website. We may at any time at our sole discretion make changes and correct information on this website without any notice. We are not liable for any direct or indirect damages resulting from your usage of third party website or hyperlinks that are available on this website. You agree not to hold us or our employees/representatives, external mentors/experts, affiliates, partners, service providers, individuals or organizations who are part of this initiative responsible for the content and operation of such websites or for the quality of their services and products. We own the copyright of this website and any attempt to multiply and / or make use in any form of the text and images on this website, is permitted only with the prior written permission of us.
© All Rights Reserved. Muthoot Fincorp India Pvt. Ltd. 2020
Crafted by Frozen Iris.
?
Average import processing time is
1 min per 500 records

Kindly do not close this page untill the process completes