SIDBI set to launch India SME Services Platform

In order to ease credit access, Small Industries Development Bank of India (SIDBI)  is set to launch India SME Services Platform. This will be an initiative for digitizing inclusive access to the enterprise ecosystem. As physical distancing shall continue along with business operations post COVID-19, Micro, Small and Medium Enterprises (MSME) need to gear up to deploy and imbibe digital payment tools, digital lending platforms, and digital banking.

Mohammad Mustafa, IAS, Chairman and Managing Director of SIDBI said,  “SIDBI has shaped the design of India SME Services Platform which shall be a single digital platform to educate, improve access and monitor all COVID-19 related initiatives. It shall have all MSMEs, stakeholders of the MSME ecosystem, financiers, corporates, government, regulators, employees, and associations converging on an interactive platform. This will be all in one place and one place for all kind of initiative.”

The features of this platform:

• MSMEs can look for trusted information on getting started, getting finance eKYC, getting credit enhancement, getting growth, getting support services including advisory, network access, video calls/digital tools.
• Financiers can look for the marketplace, documentation support, and loan management.
• Corporates can have market access, market information, supply chain solutions, partnership, and collaboration opportunities.
• The government can take and monitor actions on policies/schemes/programs, tax measures, and meeting sourcing requirements through procurements.
• Regulators can tap macro-economic trends, compliances, risk management, and systemic aspects.
• Employees can avail of registration services, skilling/upskilling, relocation support, redressal, and so on.
• Industry associations can avail of the window for insights and analytics, partnerships, directory, and so on.