Sivasubramanian Ramann will explore new areas/collaborations in FY2024 to address the various challenges faced by the MSME sector
SIDBI has made significant strides in developing many digital ecosystem initiatives and applying financial tools to encourage MSMEs to embrace green practices. Along with the financing role, SIDBI has remained at the forefront of developing innovative solutions to address challenges faced by the MSME sector. SIDBI has leveraged the India Stack to undertake new digital initiatives to strengthen the MSME ecosystem.
PLATFORM & APP
SIDBI has developed Udyam Assist Platform to bring Informal Micro Entities (IMEs) into formal economy by issuing Udyam Certificate. This shall enable access to markets, financial services, and government schemes to IMEs. Over 3 million IMEs have registered as part of the project.
SIDBI has developed a new app named GST Sahay, which facilitates collateral free lending based on cashflow assessment. The app would digitally provide ‘on tap’ invoice-based collateral-free financing to MSMEs.
This story is from the August 2023 edition of Banking Frontiers.
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This story is from the August 2023 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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