Showing posts with label MSME. Show all posts
Showing posts with label MSME. Show all posts

Yogi Govt Pushes CFCs to Empower More Artisans with Modern Tech, Training & Markets

Yogi Govt Pushes CFCs to Empower More Artisans with Modern Tech, Training & Markets

The Yogi government is continuously working to strengthen traditional industries, handicrafts, weaving, and micro enterprises in the state. The government aims to ensure that the Common Facility Centres (CFCs) established under the ODOP scheme benefit a larger number of artisans, weavers, and micro entrepreneurs by connecting them with modern technology, training, and marketing facilities, rather than remaining limited to a few individuals. With this objective, a detailed review of 16 CFC projects operating across the state was conducted on Tuesday.

During the meeting, it was stated that Chief Minister Shri Yogi Adityanath had expressed concern over the limited number of beneficiaries in several CFCs and clearly stated that the benefits of these schemes should not remain confined to only a few members.

Keeping this in mind, the CFC projects have been designed with up to 90 percent government subsidy and a 10 percent contribution from entrepreneurs, enabling small entrepreneurs to access facilities such as modern machinery, design, testing, skill training, and common tools.

MSME, Khadi and Village Industries, Silk, Handloom and Textile Minister Rakesh Sachan directed officials during the review meeting to connect CFCs more closely with public interest through extensive awareness campaigns so that a larger number of people can benefit from these facilities.

Officials were instructed to use mobile messaging, pamphlets, Industry Bandhu meetings, and media platforms for outreach. Directions were also issued to display a ‘Citizen Charter’ at all CFCs to provide people with clear information about available services.

The meeting reviewed projects from several districts including Ambedkar Nagar, Moradabad, Sambhal, Varanasi, Khurja, Agra, Meerut, Saharanpur, Bareilly, Ayodhya, and Ghaziabad.

In the Ambedkar Nagar Weaver CFC, established with assistance of nearly Rs 4 crore, emphasis was placed on increasing the number of beneficiaries so that more weavers can access modern facilities. Similarly, discussions were held on strategies to expand outreach of facilities provided under the Banaras Silk Products CFC, which has received assistance of nearly Rs 9 crore.

During the meeting, weavers and artisans also raised issues related to electricity, yarn costs, market competition, and technological upgradation. Officials informed that the Yogi government had continued the flat-rate electricity scheme for weavers for several years, under which the government bore electricity expenses amounting to nearly Rs 44 crore from 2006 to March 31, 2023.

The government’s priority is to help people associated with traditional arts and handicrafts move forward with modern technology and become self-reliant.

During the review of the engineering and tool room-based CFC in Ghaziabad, officials informed that modern facilities such as CNC machines, 3D printing, material testing, and skill training are being provided there. More than 500 youths have been trained so far, and efforts are also underway to explore opportunities for manufacturing components for the defence sector.

The meeting also discussed strengthening the operational efficiency of the Physical Vapor Deposition (PVD) plant in Moradabad, which was described as an example of environmentally friendly technology.

In the Sambhal button industry CFC, utilization of more than 70 percent capacity was described as a positive sign, while emphasis was laid on improving the availability of raw materials and electricity.

The Khurja Black Pottery CFC was cited as a model of success during the meeting. More than 1,253 beneficiaries are associated with the project, and business turnover has increased from Rs 15-20 lakh to nearly Rs 90-95 lakh. It was described as an excellent example of connecting traditional art with modern markets. Artisans also raised a demand for additional land for clay storage during the meeting.

The Saharanpur Wood Craft, Agra Leather Cluster, and jaggery processing CFCs in Bareilly and Meerut were also reviewed. Efforts made in the Meerut project to connect 1,800 farmers and promote value addition were appreciated.

Officials were further directed to organize Udyog Bandhu meetings within CFC premises and establish coordination with large industrial units to connect small enterprises with bigger markets and supply chains.

New India Strengthens Sovereignty with Indigenous Defence Tech, MSMEs & Start-Ups at Core

New India Strengthens Sovereignty with Indigenous Defence Tech, MSMEs & Start-Ups at Core

India’s defence self-reliance took centre stage at the North Tech Symposium 2026 in Prayagraj, where Raksha Rajya Mantri Sanjay Seth credited the success of Operation Sindoor to the courage of the armed forces and the effectiveness of indigenously developed weapons. He hailed MSMEs and start-ups as the “Vishwakarmas of our age,” driving the vision of Viksit Bharat by 2047.

Key Highlights from the Symposium

  • Operation Sindoor Success: Defence forces dismantled terror hideouts using Made-in-India equipment, underscoring India’s resolve for Aatmanirbharta in defence.
  • MSMEs & Start-ups: Described as the backbone of the economy and brand ambassadors of India, powering innovation and exports.
  • Defence Production & Exports: Record figures demonstrate the emergence of a New India that strengthens its own capabilities without threatening others.
  • Technology & Innovation: Seth urged industry leaders to stay ahead of the technology curve, highlighting government support and initiatives like the Uttar Pradesh Defence Industrial Corridor.
  • Army’s Call to Industry: Lt Gen Anindya Sengupta emphasized collaboration to make the Indian Army future-ready, stressing self-reliance for strategic autonomy.
New India Strengthens Sovereignty with Indigenous Defence Tech, MSMEs & Start-Ups at Core

New India Strengthens Sovereignty with Indigenous Defence Tech, MSMEs & Start-Ups at Core

North Tech Symposium 2026 – Facts & Figures

  • Dates: May 4–6, 2026
  • Location: Prayagraj, Uttar Pradesh
  • Theme: Raksha Triveni Sangam – Where Technology, Industry & Soldiering Converge
  • Participants: 284 companies including MSMEs, private defence firms, start-ups, and innovators in uniform
  • Showcases: UAVs, drones, counter-UAVs, all-terrain vehicles, surveillance systems, indigenous artillery, and AI-based defence technologies
  • Organisers: Indian Army’s Northern & Central Commands with SIDM
  • Inauguration: Defence Minister Rajnath Singh on May 4, 2026

Strategic Significance

  • Strengthening Sovereignty: Seth asserted that New India neither casts an evil eye nor ignores threats to its sovereignty.
  • Future Growth: Start-ups and MSMEs are positioned as drivers of innovation, exports, and defence manufacturing.
  • Collaboration Platform: The symposium bridges defence forces, industry, academia, and innovators, fostering synergy for national security.
  • Global Outlook: Demonstrations of AI surveillance, logistics drones, and indigenous artillery highlight India’s push to reduce dependence on foreign equipment.

Leadership Voices

Raksha Rajya Mantri Sanjay Seth: “Our start-ups and MSMEs are the driving force for future growth… They are the Vishwakarmas of our age.”

Lt Gen Anindya Sengupta: “Self-reliance will lead to strategic autonomy, technological sovereignty and operational tailoring.”

Raksha Mantri Rajnath Singh: Inaugurated the event, reinforcing the government’s commitment to defence innovation.

Conclusion

The North Tech Symposium 2026 showcased India’s defence innovation ecosystem, where Operation Sindoor’s success became a symbol of indigenous strength. With MSMEs and start-ups at the forefront, the event reinforced India’s march towards Viksit Bharat 2047 and a future-ready military.

MSME Ministry Trains 2,500 Artisans in AI Tools Under PM Vishwakarma Scheme

MSME Ministry Trains 2,500 Artisans in AI Tools Under PM Vishwakarma Scheme

The Ministry of MSME has trained over 2,500 artisans and craftspeople under the PM Vishwakarma Scheme in the use of Artificial Intelligence (AI) tools, marking the first-of-its-kind initiative across Government of India ministries to integrate grassroots entrepreneurs into the AI ecosystem.

Background of the Initiative

  • Scheme: PM Vishwakarma, launched on 17 September 2023, supports artisans in 18 traditional trades with training, tools, credit, and market linkage.
  • Objective: Empower artisans by bridging the digital divide and enhancing livelihoods through technology.
  • Alignment: Reflects the vision of “AI for Social Good” emphasized at the IndiaAI Impact Summit and reinforced in the Delhi Declaration.

Training Highlights

  • Beneficiaries: 2,543 artisans and craftspeople across 20 States and Union Territories.
  • Format: Hands-on, practical sessions delivered in simple language and tailored to local contexts.
  • AI Tools Introduced: ChatGPT, Indus, and Google Gemini.
  • Skills Covered:
    • Branding, product design, packaging, and marketing strategies
    • AI-enabled business efficiency solutions
    • Customer engagement and market expansion
    • AI-generated product descriptions and high-quality visual content

Pan-India Coverage

State/UTBeneficiaries
Telangana387
Maharashtra295
Gujarat262
Rajasthan251
Bihar250
Karnataka248
Uttar Pradesh210
Punjab100
Delhi82
Odisha70
Goa68
Uttarakhand51
Meghalaya51
Tripura50
Jharkhand43
Daman & Diu38
Chandigarh36
Himachal Pradesh31
Sikkim20
Total2,543

Impact and Significance

  • Digital Empowerment: Bridges the gap between traditional craftsmanship and modern technology.
  • Global Competitiveness: Enhances product value and market reach for grassroots entrepreneurs.
  • Economic Growth: Promotes sustainable and inclusive growth by enabling artisans to access new customer segments.
  • Policy Innovation: First initiative across Government of India ministries to integrate artisans into the AI ecosystem.

Conclusion

This pioneering effort by the Ministry of MSME under the PM Vishwakarma Scheme represents a transformative step in India’s digital journey. By equipping artisans with AI-driven skills, the government is not only preserving India’s rich artisanal heritage but also positioning it for global competitiveness in the digital age.

India Approves BHAVYA: Plug-and-Play Industrial Parks to Attract Global Investors and Strengthen Atmanirbhar Bharat

India Approves BHAVYA: Plug-and-Play Industrial Parks to Attract Global Investors and Strengthen Atmanirbhar Bharat

India has taken a bold step toward accelerating regional industrialization and strengthening its manufacturing ecosystem with the approval of the BHAVYA scheme. This landmark initiative is designed to create new opportunities for millions of people while reinforcing the country’s vision of Atmanirbhar Bharat.

The BHAVYA scheme has been approved with a massive financial outlay of ₹33,660 crore (about $3.64 billion USD), aimed at developing 100 plug-and-play industrial parks across India. This investment is expected to generate around 15 lakh direct jobs and catalyze industrial growth nationwide.

Driving Industrial Growth and Inclusivity

The BHAVYA scheme is poised to benefit a wide spectrum of stakeholders:
  • Primary beneficiaries: Manufacturing units, MSMEs, startups, and global investors seeking ready-to-use industrial infrastructure.
  • Secondary beneficiaries: Workers, logistics providers, service sector enterprises, and local communities who will thrive in the ripple effects of industrial expansion.
By offering plug-and-play industrial parks, the scheme ensures industries can begin operations without delays related to land acquisition or infrastructure setup. This model not only boosts efficiency but also enhances India’s appeal as a global manufacturing hub.

A Step Toward Atmanirbhar Bharat

The approval of BHAVYA represents a transformational milestone in India’s industrial journey. It strengthens manufacturing capabilities, boosts exports, and lays the foundation for a resilient, inclusive, and globally competitive economy. The initiative aligns seamlessly with India’s broader goals of self-reliance, sustainability, and global leadership in production.

NICDC: Spearheading Smart Industrial Cities

At the heart of this transformation is the National Industrial Corridor Development Corporation Limited (NICDC), operating under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.

NICDC is currently implementing 20 projects across 13 states, building world-class greenfield industrial smart cities that enhance competitiveness, attract investments, and generate employment. These projects embody the concept of pre-developed ecosystems—where land, utilities, approvals, and infrastructure are ready, enabling industries to hit the ground running.

The Road Ahead

The BHAVYA scheme is more than an infrastructure project—it is a catalyst for economic transformation. By integrating manufacturing, logistics, and community development, it promises to:
  • Create millions of jobs across regions.
  • Empower MSMEs and startups with modern industrial infrastructure.
  • Attract global investors seeking efficiency and scale.
  • Strengthen India’s position in global supply chains.
This initiative signals India’s commitment to building a resilient, future-ready economy where industrial growth translates into inclusive prosperity.

Summary Table – BHAVYA Scheme 

Aspect Details
Budget Allocation ₹33,660 crore
Number of Parks 100
Park Size 100–1,000 acres
Lead Agency NICDC (under DPIIT)
Job Creation ~15 lakh direct jobs
Implementation Model Central + State + Private partnerships

About NICDC:

National Industrial Corridor Development Corporation Limited (NICDC), under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, is spearheading the development of world-class greenfield industrial smart cities to enhance manufacturing competitiveness, attract investments, and generate employment. NICDC is currently implementing 20 projects across 13 states.

NICDC-led initiatives are built on the concept of plug-and-play industrial parks—ready-to-use ecosystems where land, utilities, approvals, and infrastructure are pre-developed, enabling industries to start operations quickly without delays related to land acquisition or infrastructure setup.

Prayaan Capital Raises ₹110 Crore Series A Led by Peak XV Partners to Bridge India’s $300B MSME Credit Gap

Prayaan Capital, led by Rangarajan Krishnan (Ranga), former JMD and CEO of publicly listed Five-Star Business Finance, today announced that it has raised INR 110 crore in its Series A round led by Peak XV Partners.

Rangarajan Krishnan
Rangarajan Krishnan

Rangarajan Krishnan had recently acquired a controlling stake in Prayaan Capital. He aims to transform Prayaan into a new-age MSME lending platform, expanding access to credit for India’s small businesses by combining deep on-ground underwriting expertise with a technology-first approach across sourcing, underwriting, and collections. The company will focus on serving underserved MSMEs across India, a segment that continues to face an estimated USD 300 billion credit gap.

India’s approximately 70 million MSMEs employ nearly 300 million people and play a critical role in driving economic growth. Yet access to formal credit remains limited for many, creating a large and enduring opportunity for new-age lenders built with both operational discipline and modern technology at their core.

Ranga brings more than two decades of experience across financial services. As JMD and CEO of Five-Star Business Finance, he helped scale the company into one of India’s leading MSME lenders, culminating in a successful public listing in 2022. Peak XV has known and partnered with Ranga for over 15 years, including during his leadership journey at Five-Star, and is now partnering with him from day one as he builds Prayaan Capital.

Prayaan Capital seeks to build an institution that combines the proven strengths of branch-led distribution with a technology-enabled operating model. The company aims to leverage digital tools alongside deep customer understanding to improve credit access and serve small businesses more effectively.

Rangarajan Krishnan, Promoter, Prayaan Capital, said: "Small businesses are the backbone of India’s economy, yet millions remain underserved by formal credit. Prayaan Capital is built on the belief that combining deep customer understanding with technology can meaningfully expand access. I am grateful to partner with Peak XV, who have been long-term believers in this segment and have supported me through multiple chapters of my journey."

GV Ravishankar, Managing Director, Peak XV, said: "We have known Ranga for over 15 years, and our partnership has been shaped by a shared commitment to expanding access to credit for small businesses. He and his team bring deep experience and a genuine obsession with serving this segment well. Having seen firsthand the impact they created at Five-Star, we are excited to partner with them from day one as they build Prayaan Capital."

The investment will be used to build Prayaan Capital’s lending platform, expand its team, and grow its presence across key MSME markets in India.

About Prayaan Capital

Prayaan Capital is a technology -enabled MSME lending platform focused on expanding access to credit for India’s small businesses. Led by Rangarajan Krishnan, former CEO of Five-Star Business Finance, the company combines deep underwriting expertise with modern technology to serve underserved entrepreneurs across India.

About Peak XV Partners

Peak XV Partners (formerly Sequoia Capital India & SEA) is a leading venture capital firm investing across India, APAC and beyond. Over the last 20 years of operations in the region, Peak XV has grown to manage over USD 10 billion in capital across 16 funds and has invested in over 450 companies. The portfolio has seen over 35 IPOs and several successful M&As to date. To know more, please visit www.peakxv.com.

Credlix Acquires Majority Stake in Vanik Finance, Infuses ₹80 Crore to Boost MSME Credit Access

Credlix Acquires Majority Stake in Vanik Finance, Infuses ₹80 Crore to Boost MSME Credit Access

Credlix, the fintech arm of Moglix, has taken a majority stake in Vanik Finance, with an aim to infuse ₹80 crore. This marks a significant step in Credlix’s efforts to expand timely and accessible working capital solutions for India’s MSMEs and exporters.

Founded by Rahul Garg, Moglix has built one of India’s leading B2B commerce ecosystems. Through Credlix, the group is strengthening its financial services capabilities for manufacturers, suppliers, and exporters across industrial sectors. The majority stake in Vanik Finance enhances Credlix’s ability to offer a wider range of secured and unsecured lending products while maintaining a disciplined and customer-focused approach.

This milestone helps us widen access to timely and reliable capital for MSMEs,” said Rahul Garg, Founder and CEO of Moglix and Credlix. Our goal is to support the complete financial lifecycle of small and mid-sized businesses in a way that is simple, transparent, and aligned with their growth needs.”

For MSMEs, this translates to quicker access to funds, fewer intermediaries, and greater flexibility in managing cash flows. Vanik Finance will now operate fully under the Credlix brand, leveraging advanced analytics and digital underwriting to simplify credit decisions and accelerate turnaround times.

This development comes at a pivotal moment for India’s economy. MSMEs contribute nearly 30 percent of India’s GDP and about 45 percent of exports, highlighting their role in driving industrial growth. As the Make in India and Atmanirbhar Bharat programs advance, access to affordable finance remains one of the most important levers for strengthening India’s manufacturing base and export capacity.

Across India, business credit is evolving quickly. MSMEs today expect faster, cleaner and more predictable access to capital as they scale, manage cash cycles and invest in growth. Lenders are responding by moving toward smarter business-loan offerings that combine digital onboarding, bank-statement analytics, GST-based assessments and collateral-light structures.

The focus is on reducing documentation, improving transparency and enabling quicker sanctions so that manufacturers, traders and exporters can access working capital without friction. Credlix is building a unified system that brings together technology, credit intelligence and sector understanding to deliver reliable liquidity solutions tailored to the needs of growing businesses.

MSMEs are the backbone of India’s economy. They need financial partners who understand their realities,” Garg added. “By bringing together technology, supply chain networks, and simplified credit access, we aim to help them grow with confidence.

Credlix will continue investing in technology-led credit products including digital invoice discounting, export factoring, and anchor-based programs. Pilot initiatives across major industrial clusters have demonstrated strong demand and consistent repayment performance. The company is also exploring partnerships with banks and financial institutions to expand reach and capacity.

Through initiatives such as the India–Mexico Trade Corridor, Credlix is enabling exporters with smoother liquidity flows and better access to international buyers. With a stronger capital base and expanded lending capability through Vanik Finance, Credlix is now positioned to scale these efforts across markets and contribute to India’s participation in global trade.

About Credlix

Credlix, the financial arm of Moglix, is a global supply-chain financing platform that enables SMEs to access fast, collateral-free working capital. With operations across India, the United States, Mexico, and the UAE, Credlix helps businesses scale sustainably and participate in global markets.

Link- https://www.credlix.com/

Tata Steel’s B2MSME E--Commerce Platform, DigECA, Crosses ₹1,000 Crore GMV

Tata Steel’s B2MSME E--Commerce Platform, DigECA, Crosses ₹1,000 Crore GMV

Tata Steel today announced a significant milestone for its B2MSME e-commerce platform, DigECA, which has surpassed ₹1,000 crore in Gross Merchandise Value (GMV) in the current financial year (FY26). The platform has also recorded over 160 kilo tonnes (KT) in sales and onboarded more than 3,500 Micro, Small and Medium Enterprises (MSME) customers, underscoring its growing role as a catalyst in the digital transformation journey of India’s MSMEs, known as Emerging Corporate Accounts (ECAs) within Tata Steel.

Designed to make steel buying simple, transparent and efficient, DigECA offers ECAs an integrated, omni-channel experience with features such as embedded financing options, real-time order visibility, and dedicated technical support. The platform primarily focuses on flat steel products including Tata Astrum, Tata Steelium, and Galvano, bringing together quality assurance and digital convenience under one ecosystem.

Prabhat Kumar, Vice President - Marketing & Sales (Flat Products), Tata Steel, said: “Surpassing ₹1,000 crore GMV and 160 KT in sales is a testament to the trust our ECA customers place in DigECA. This platform is not just about transactions - it’s about building meaningful relationships, enhancing customer experience through seamless integration of MSME value chain, and aligning our services with their evolving business needs.”

Since its pilot launch in fourth quarter of Financial Year 2024-25, DigECA has registered a 30x growth, driven by Tata Steel’s relentless focus on innovation, customer-centricity, and digital enablement. The platform’s growth mirrors Tata Steel’s broader vision to digitalise the steel supply chain and promote inclusive growth across India’s industrial ecosystem.

With DigECA, Tata Steel continues to lead the way in digital transformation, equipping ECAs with the right tools, services, and support to achieve their business aspirations and contribute to India’s industrial progress.

Godrej Finance Partners Muthoot FinCorp to Expand MSME Lending via Property-Backed Loans

  • Aims to achieve disbursals of INR 250 crore in FY26.
Godrej Capital, is the financial services arm of Godrej Industries Group. Godrej Capital’s subsidiary, Godrej Finance (GFL), has entered a co-lending partnership with Muthoot FinCorp to enhance credit access for MSMEs in Tier-2 and Tier-3 cities, building on Muthoot FinCorp’s strong presence and deep market reach in these regions.
Godrej Finance Partners Muthoot FinCorp to Expand MSME Lending via Property-Backed Loans
L to R: Vinod Reddy, CBO – Secured & Unsecured Lending Business, Muthoot FinCorp, Manish Shah, MD & CEO, Godrej Capital, Shaji Varghese, CEO, Muthoot FinCorp, Pankaj Gupta, MD & CEO, Godrej Finance – a subsidiary of Godrej Capital, Shalinee Mimani, CRO, Godrej Capital
The co-lending partnership will offer loan against property ranging from INR 10 lakh to INR 75 lakh, with an average ticket size of INR 15 lakh. With operations spanning pan-India, this offering is well-positioned to tap into markets with strong demand for accessible and timely credit. The partnership will soon be expanded to include other products such as gold loans and housing loans.

Through a seamless digital integration, this partnership will ensure faster approvals, greater transparency, and compliance with RBI’s co-lending framework. Under the terms of the agreement, the company will assume 80% of the risk, with Muthoot FinCorp covering the remaining 20%. Muthoot FinCorp will oversee underwriting, collections, and the customer journey, while the company will ensure regulatory compliance through a jointly defined policy framework.

Manish Shah, MD & CEO of Godrej Capital stated, “Access to timely credit can make all the difference for a growing business, especially in Tier-2 and Tier-3 cities where it is needed the most. With our partnership with Muthoot FinCorp, we aim to bridge this gap for MSMEs by offering simpler, transparent, and faster lending solutions. Our endeavour is to help businesses grow with confidence while contributing to a stronger and more inclusive financial system.”

Shaji Varghese, CEO of Muthoot FinCorp added, “MSMEs are the largest contributor of employment in the country after agriculture but access to credit is a pertinent challenge faced by the sector. With our 3700+ branches and Muthoot FinCorp ONE app, we have expanded our reach to the hinterlands ensuring accessibility to these MSMEs. With our new partnership with Godrej Capital for Loan Against Property offering to the sector, I am sure we will further contribute to the growth of MSMEs by meeting their financial requirements timely and effectively”.

Through its subsidiary GFL, the company offers a diverse range of loan products to meet the varying needs of MSMEs and individual borrowers. These include offers such as Loan Against Property, Udyog Loan Against Property for smaller-ticket requirements, and unsecured Business Loans.

The alliance is targeting disbursals of INR 250 crore in this fiscal year, with a strong focus on high-potential markets across North, South, and Western India. As one of the few co-lending partnerships between NBFCs, it reflects a robust digital-first approach and sets the stage for broader participation in the fast-growing MSME lending space.

SBI Launches MSME CoE in Gurugram to Drive Capacity Building and National Development Goals

SBI Launches MSME CoE in Gurugram to Drive Capacity Building and National Development Goals
State Bank of India (SBI), the country’s largest bank, inaugurated its Centre of Excellence (CoE) for MSMEs at the State Bank Academy (SBA), Gurugram. The Centre has been established with an objective of strengthening the MSME ecosystem through capacity building, research, and industry collaboration, thereby contributing to India’s vision of becoming a developed nation.

The Centre was inaugurated by Shri M. Nagaraju, Secretary, Department of Financial Services (DFS) and Shri C.S. Setty, Chairman, in the presence of Shri Vinay M. Tonse, MD (RB&O), Shri Surender Rana, DMD (Retail-Agri, SME & FI), Shri Anindya Sunder Paul, DMD (SME & SCF) and Smt. Suranjana Dutta, CGM STU. SBA is an institute imparting specialized training in Credit, International Banking, Risk & Compliance and carrying out Research & Development in various spheres of banking.

State Bank Academy Gurukul, Gurgaon, Haryana
State Bank Academy Gurukul, Gurgaon, Haryana

Shri M. Nagaraju, Secretary, Department of Financial Services, said, “MSMEs are the true engines of growth, creating widespread employment and driving prosperity in rural India, which is critical for our journey towards becoming a developed nation. I urge this SBI Centre of Excellence to benchmark itself against the best MSME institutions in the country. My expectation is that the CoE will engage in making case studies and undertaking research, creating a rich repository of knowledge and sharing it online for the benefit of all, especially those in remote areas. Continuous innovation and deep engagement with entrepreneurs, fintechs, and startups will be the key to its success.”

Speaking on the occasion, Shri C.S. Setty, Chairman, SBI, stated, “As the largest lender to MSMEs, with the widest network of SME branches, SBI is responsible to build capacity and the Centre of Excellence will serve as a hub of ideas and innovation, supporting the development of new SME-focused products and processes that can benefit the entire banking sector.”

Shri C.B.K. Singh, GM & Director, State Bank Academy, said, “The Centre has been established based on the vision articulated by the Chairman and would play a significant role in supporting the growth and development of the MSME sector.”

The CoE has been designed with an inclusive approach, engaging with MSME promoters, startups, industry associations, academia, government, regulators, and banking professionals. This collaborative model will ensure that the Centre’s initiatives remain relevant, impactful, and aligned with the needs of the sector.

UGRO Capital Reports ₹421.8 Cr Income in Q1 FY26; PAT Up 12%, AUM Crosses ₹12,000 Cr


  • AUM of INR 12,081 Cr, up 31% YoY
  • Total Income stood at INR 421.8 Cr in Q1’FY26, up 40% YoY
  • Net Total Income at INR 216.5 Cr, up 31% YoY
  • GNPA/NNPA at 2.5%/1.7% on total AUM
  • Embedded Finance Growth: Reached INR 1,011 Cr AUM with INR 582 Cr disbursed in Q1’FY26 through MSL platform
  • Emerging Market Business Growth: Reached INR 2,772 Cr AUM with 309 branches operational; ~346 branches to be operational by Sep’25
  • CRAR at 22.4%, provides strong capital headroom above the regulatory minimum, supporting calibrated growth
  • Strategic actions: Profectus Capital acquisition (INR 1,400 Cr, all-cash) advancing; INR 381 Cr rights issue completed and INR 911 Cr preferential issue in process
UGRO Capital Limited (“UGRO” or “the Company”), a DataTech NBFC focused on MSME lending, announced its financial performance for the quarter ended June 30, 2025 (Q1’FY26). The Company sustained healthy year-on-year growth and a stable risk profile, while reinforcing structural growth engines of branch expansion in Emerging Markets, scale in Embedded Finance, and progress on the Profectus Capital acquisition and ongoing equity raise. Continuing its journey toward becoming the largest small business financing institution driven by data and technology, the Company reported Assets Under Management (AUM) of INR 12,081 crore as of June 30, 2025, reflecting a 31% YoY growth.

The Emerging Market Business continued to scale with 309 operational branches and a path to ~346 branches by September 2025, supported by improving branch-vintage profitability. The Embedded Finance platform crossed INR 1,000 Cr AUM; Q1 disbursements were INR 582 Cr, with strong contributions from partners such as PhonePe and BharatPe. In parallel, the Company advanced the INR 1,400 Cr all-cash acquisition of Profectus Capital (shareholder approval received; change-of-control and allied approvals in process) and continued its capital raise programme (INR 381 Cr rights issue completed; INR 911 Cr preferential issue in progress), further strengthening the balance sheet for quality growth.

UGRO Capital continued to diversify liabilities and improve the cost of funds during the quarter. Total debt stood at INR 7,586 Cr as of June 30, 2025, with CRAR at 22.4%, and the off-book share at 42% supported by co-lending and direct assignment flows. The partner ecosystem remains deep and data linked with 17 Co-lending partners, 50+ lenders and 770+ GRO partners and Green anchor partners, enabling tailored credit for over 2 lakh MSMEs across India.

In terms of financials, Total Income for Q1’FY26 stood at INR 421.8 Cr, up 40% YoY and 2% QoQ; Net Total Income was INR 216.5 Cr, up 31% YoY and PAT was INR 34.1 Cr, up 12% (YoY). Portfolio quality remained stable with GNPA/NNPA at 2.5%/1.7% on total AUM.

UGRO reported Disbursement of INR 1,599 Cr in Q1’FY26. First Quarter of any Financial Year is seasonally softer, and by design, the Company prioritized discipline over pace. Underwriting filters were tightened particularly on borrower leverage resulting in calibrated originations. Draft co-lending guidelines issued in April weighed on volumes temporarily; the effect was cushioned by higher direct assignments and continued liability diversification. With the Emerging Market network nearing full rollout and embedded-finance funnels strengthening, momentum is expected to improve from Q2 while keeping asset quality at the center.

Speaking on the performance, Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital, said, “Q1 was a quarter of discipline. In line with our risk guardrails, we tightened underwriting and moderated originations wherever borrower leverage was elevated. Even so, the portfolio remained resilient across our nine focus sectors, and we delivered 31% YoY AUM growth with stable asset quality. We stayed focused on building our next engines of Emerging Market distribution, Embedded Finance partnerships and the Profectus acquisition. With capital actions underway and approvals progressing, we are well placed for the next phase of high-quality growth. While the industry is seeing relatively higher stress in unsecured segments, UGRO’s exposure there is limited and ring-fenced; our book is predominantly secured, and our filters are sharper than before. As seasonal effects fade and partner funnels ramp up, we expect growth to pick up while staying firmly disciplined on unit economics."

About UGRO Capital Ltd (NSE: UGROCAP I BSE: 511742)

UGRO Capital Limited is a DataTech Lending platform, listed on NSE and BSE, pursuing its mission of “Solving the Unsolved” for the small business credit gap in India, on the back of its formidable distribution reach and its Data-tech approach.

The Company’s prowess in Data Analytics and strong Technology architecture allows for customized sourcing platforms for each sourcing channel. GRO Plus module which has uberized intermediated sourcing, GRO Chain, a supply chain financing platform with automated end-to-end approval and flow of invoices, GRO Xstream platform for co-lending, an upstream and downstream integration with fintechs and liability providers, and GRO X application to deliver embedded financing option to MSMEs.

The credit scoring model GRO Score (3.0) a statistical framework using AI / ML driven statistical model to risk rank customers is revolutionizing the MSME credit by providing on-tap financing like consumer financing in India.

UGRO has executed Co-lending model in India which is prevalent in the West through Co-Lending relationships with total of 17 Banks and NBFCs and built a sizeable off-balance sheet asset of 42% of its AUM through its Co-lending and Co-originating partners and GRO Xstream platform.

The Company is backed by marquee institutional investors (raised INR 900+ Cr of equity capital in 2018, INR ~340 Cr in 2023, INR ~258 Cr in 2024 and INR ~1300 in 2025). For more information, please visit: http://www.ugrocapital.com

Over 81% of 9000+ Surveyed MSMEs Expect Revenue Increase in Next 1-2 Yrs: Kinara Capital MSME Insights

Over 81% of 9000+ Surveyed MSMEs Expect Revenue Increase in  Next 1-2 Yrs: Kinara Capital MSME Insights

Kinara Capital, a leading fintech driving MSME financial inclusion, today released its fourth edition of MSME Insights, signaling strong optimism and increased formalization in the MSME sector. MSME entrepreneurs are confident about their near-term business growth prospects.

According to the latest MSME Insights, 81% of the surveyed MSMEs expect their business revenue to increase within the next 1-2 years. Of these, 34% anticipate a revenue growth of more than 15% in their businesses. Additionally, MSMEs are embracing formalization, with 51.7% of the surveyed reporting that they are now GST-registered.

The fourth edition of MSME Insights is based on an extensive multilingual survey of 9,314 MSMEs from Manufacturing, Trading, and Services sectors conducted across Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Tamil Nadu, Telangana, and the Union Territory of Puducherry.

The MSME Insights is a comprehensive data analysis of current trends of micro-small-medium enterprises (MSMEs) based on firsthand input from business owners. MSME Insights also delved into the behavioral patterns within the MSME sector and the analysis uncovered a striking pattern across all sectors. MSMEs still depend significantly on cash transactions, even when not accounting for UPI usage. Over 84.3% of the surveyed MSMEs stated that between 25%-100% of their business transactions are conducted with actual cash—underscoring the need for deeper digitization efforts across the sector.

Sharing her perspective, Hardika Shah, Founder & CEO, Kinara Capital, said,
On the occasion of World MSME Day, it is encouraging to witness the strong optimism shared by India’s MSMEs. The fact that 81% of respondents in our recent MSME Insights survey expressed confidence in their growth prospects speaks volumes about the sector’s resilience and ambition. This optimism is rooted in improved access to formal credit, which enables entrepreneurs to focus on expansion. However, the sector’s continued reliance on cash transactions highlights the need to accelerate digitization. Embracing digital payments can enhance financial transparency and significantly boost access to formal credit. Ultimately, digitization holds the key to reaching underserved MSMEs and closing India’s ₹30 lakh crore credit gap.”

Key Findings From Kinara Capital’s Msme Insights, Fourth Edition

MSMEs are upbeat about their business growth: More than 81% of the respondents have indicated that they are expecting varying degrees of growth in their revenue. Of these, 47% of the respondents expect their revenue to witness a 5%-15% growth, 26.1% anticipate a growth of 15%-25% and 7.9% are optimistic of more than 25% growth in revenue. Only a small proportion, i.e., 1.1% foresee no growth.

Cash is King for MSMEs: Overall, 84.3% of the surveyed MSMEs reported relying on cash (excluding UPI) for 25%-to-100% of their business transactions. While only 7.4% of the MSME respondents relied on cash for more than 75% of their business transactions, 30.5% depended on cash for 50%-to-75% of their business transactions. This outcome indicates that a shift to digital payments, though underway, is far from reaching its full potential.

Formalization is on an Upswing: MSMEs are increasingly recognizing the benefits of Goods and Services Tax (GST) compliance. According to the survey, 51.7% of respondents are GST-registered and file returns regularly. Of these, 29.4% expressed interest in GST-linked loan products that offer better interest rates or flexible tenures. Regular GST filings not only reflect consistent business activity but also provide a verifiable financial history that enhances credit eligibility. Additionally, GST registration reduces the overall tax burden through input tax credits and offers MSMEs the ease of doing business across state lines with a unified tax structure.

Tata Steel Unveils DigECA, a one-stop digital steel Buying Platform, for MSME customers

Tata Steel Unveils DigECA, a one-stop digital steel Buying Platform, for MSME customers

Tata Steel today launched a new version of DigECA, expanding access beyond channel partners to include Micro, Small and Medium Enterprises (MSMEs), broadly classified as Emerging Corporate Accounts (ECA) by Tata Steel. DigECA is a groundbreaking B2MSME e-commerce platform specifically designed to meet the needs of ECA customers, enabling them to transact directly with ease and convenience while accessing the highest quality products and services.

Building on the success of Tata Steel’s B2C e-commerce portal, Aashiyana, DigECA envisions a revolution in the customer journey for ECAs. The platform focuses on flat products such as Tata Astrum, Tata Steelium, and Galvano, providing MSMEs with hassle-free purchase experience with Tata Steel and its channel partners.

Since the pilot launch in Q4 FY25, DigECA has experienced impressive growth, onboarding over 2,000 ECA customers and achieving significant milestones in its Gross Merchandise Value (GMV). This growth reflects our commitment to empowering customers with complete transparency regarding material availability and order fulfillment, ensuring a seamless process from enquiry to delivery, further augmented with post-supply services.

Prabhat Kumar, Vice President, Marketing & Sales (Flat Products), Tata Steel, said: “At Tata Steel, we are committed to enhancing customer satisfaction through digital innovation. With the launch of DigECA for our ECA customers, we are simplifying the steel buying experience and strengthening their direct engagement with Tata Steel. The platform is designed to enable a more connected and efficient relationship between customers and our distribution network, helping us better align our offerings with evolving market needs.”

With DigECA, Tata Steel reinforces its expertise in technology and innovation to deliver an unparalleled experience for customers, setting the stage for a thriving future. The Company is dedicated to ensuring that its ECAs feel supported and valued in the collective pursuit of meeting the business aspirations.

Over 1 Lakh Micro Food Processing Enterprises Funded Under PMFME Scheme, in Last 5 Years

Over 1 Lakh Micro Food Processing Enterprises Funded Under PMFME Scheme, in Last 5 Years

Under central government-sponsored PM Formalization of Micro Food Processing Enterprises (PMFME) Scheme across the country, a total of 1,08,580 micro food processing enterprises have been approved for assistance under PMFME Scheme till 31st October, 2024. The scheme is operational from 2020-21 to 2025-26 with total outlay of Rs. 10,000 crores.

Union Minister of State for Food Processing Industries, Shri Ravneet Singh Bhittu, shared this information in a written reply to Loksabha.

He informed that the Ministry of Food Processing Industries (MoFPI) in India has been actively supporting small and medium-scale food processing entrepreneurs through various schemes. Here are some key initiatives:

Central Sector Pradhan Mantri Kisan SAMPADA Yojana (PMKSY) Scheme

  • Objective: To incentivize food processing entrepreneurs for setting up or expanding related industries.
  • Financial Assistance: Provides mostly credit-linked financial assistance (capital subsidy) to entrepreneurs.
  • Projects: Includes 41 Mega Food Parks, 399 Cold Chain projects, 76 Agro-Processing Clusters, 559 Food Processing Units, and more.

Production Linked Incentive Scheme for Food Processing Industry (PLISFPI)

  • Objective: To support the creation of global food manufacturing champions and promote Indian brands in international markets.
  • Implementation Period: From 2021-22 to 2026-27.
  • Outlay: Rs. 10,900 crores.

Centrally Sponsored PM Formalization of Micro Food Processing Enterprises (PMFME) Scheme

  • Objective: To provide financial, technical, and business support for setting up or upgrading micro food processing enterprises.
  • Operational Period: From 2020-21 to 2025-26.
  • Outlay: Rs. 10,000 crores.
  • Approved Enterprises: Over 1,08,580 micro food processing enterprises have been approved for assistance under this scheme.
These schemes, which are not region or state specific but demand driven, aim to boost the food processing industry, enhance operational efficiency, and support the transition to sustainable and modernized food processing practices.

Meta Partners ONDC To Enable Small Businesses Build Conversational Buyer-Seller Experiences on WhatsApp

Meta Partners ONDC To Enable Small Businesses Build Conversational Buyer-Seller Experiences on WhatsApp
  • Meta will enable and educate small businesses, through an ecosystem of our business and technical solution providers capable of building seamless conversational buyer and seller experiences on WhatsApp.
  • With you ONDC partnership, Meta will digitally upskill five lakh MSMEs through the Meta Small Business Academy.
Meta, the parent of social media giant Facebook, today announced its partnership with Open Network for Digital Commerce (ONDC) to enable and educate small businesses in building seamless conversational buyer and seller experiences on WhatsApp through an ecosystem of Meta's business and technical solution providers. As part of this collaboration, ONDC will help these business solution providers become seller apps, bringing the businesses they service onto the ONDC network and helping them drive commerce.

To kick-off the partnership, over the next two years, Meta will also digitally upskill 5 lakh MSMEs through the Meta Small Business Academy. Born out of Meta's commitment to up-skill 10 million small businesses across the country, Meta Small Business Academy offers a certification to empower entrepreneurs and marketers to gain critical digital marketing skills to grow on our apps.

At ONDC, we are committed to accelerating and democratizing the digital landscape and towards that, we aim to empower MSMEs, help them build digital visibility, and boost their businesses. Today, for any business to grow, it is critical for them to market themselves and reach a wider audience. Our partnership with Meta will not only digitally upskill these businesses but will also enable them to connect with a customer base far and wide. I am confident that our collaborative efforts will pave the way for millions of small businesses by providing them with the right impetus for growth.” – T Koshy, MD & CEO of ONDC. 

India’s digital transformation story is unfolding at a revolutionary pace, and for this growth to continue, we need the right ecosystem and partnerships that enable millions of small businesses to build and deepen their digital presence. Meta has been a frontrunner in partnering with the government and the industry to advance digital inclusion, especially for MSMEs across India. Our partnership with ONDC builds on supporting the government’s vision for Digital Public Infrastructure (DPI) and furthering our ongoing commitment to skilling small businesses and aiding this rapid digital transformation and growth story in the country.” – Sandhya Devanathan, Vice President, Meta in India. 

As part of the partnership, Meta will also support Sahayak, ONDC’s WhatApp chatbot, in enhancing the services offered on the bot as the single point of seller communication and customer communication for ONDC.

Earlier this year, Meta launched ‘WhatsApp Se Wyapaar’ program to upskill 10 million traders across 29 states in 11 Indian languages on the WhatsApp Business app. Today, there are more than 200 million users of the WhatsApp Business app across the world, and more than 60% of people on WhatsApp in India message a business account.

In April this year, Meta partnered with NIESBUD, AICTE and CBSE, to train students, Entrepreneurs, Startups and small-businesses in Digital Marketing. The partnership agreement was inked through Ministry of Education, Ministry Skill Development & Entrepreneurship.

Kinara Capital Commits ₹ 575+ Cr in Business Loans Disbursement for MSMEs in Karnataka by FY24

Kinara Capital Commits ₹ 575+ Cr in Business Loans Disbursement for MSMEs in Karnataka by FY24
myKinara App, available in Kannada, simplifies process for MSMEs to avail Business Loan

Kinara Capital, a fast-growing fintech driving MSME financial inclusion, today reiterated its commitment to fostering MSMEs in Karnataka. It aims to disburse over INR 575+ crores in business loans in FY24 and support the growth of MSMEs in the state.

Elaborating about the plan, Thirunavukkarasu R (Thiru R), Chief Operating Officer (COO), Kinara Capital, said, “Karnataka is a vibrant, growing region with a diverse MSME sector. Kinara Capital is proud to be headquartered in Karnataka and for over a decade, we have supported thousands of small business entrepreneurs in this state. Our commitment to disburse over INR 575+ crores in FY24 to MSMEs in Karnataka will boost business growth and lead to the creation of 6000+ new jobs in local economies.”

MSME business owners can start the process at their convenience with our easy to use myKinara App, available in Kannada. In FY23, Kinara Capital had disbursed over INR 341 crores, 141% higher than FY22 in the state.

The ambitious disbursement plan for this fiscal (FY24) will be supported by operational enhancement. Recently, Kinara Capital has opened 3 new branches in Haveri, Humnabad and Ramanagara and expanded its geographical presence to over 28 branches and 658 pincodes. Furthermore, the company plans to increase its employee strength in Karnataka to 930 employees, with over 300 new hires across Kinara Capital’s Offices in this fiscal .

Headquartered in Bengaluru, Karnataka, Kinara Capital Capital provides MSMEs with collateral-free loans in the range of INR 1 lakh to INR 30 lakhs through its various products such as Long-term Working Capital and Short-term Working Capital, Machinery Purchase, Bill Discounting and HerVikas loans to across 300 sub sectors.

Till date Kinara has disbursed more than INR 1,089 crores across 20,717 business loans in Karnataka. The support from Kinara has led to over INR 79 crores in incremental income generation for the small business entrepreneurs, and created over 21,437 new jobs in the local economies. Food Products , Construction Material, Machine Components, Textiles, Fabrication, Auto Components, Automobiles etc are some of the leading sub-sectors for Kinara Capital in the state.

Kinara Capital has also been working towards empowering MSME women entrepreneurs through its focused program HerVikas. Under the program, women entrepreneurs are supported with an upfront automatic discount on their business loans. Through HerVikas program, Kinara Capital has disbursed more than INR 87 crores across 956+ business loans to women entrepreneurs in Karnataka. The company is looking at scaling up its commitment and extending its support to more women-owned MSMEs in the state.

Kinara Capital is a fast-growing fintech company and is globally recognized for disrupting the small business lending model in India by democratising access to collateral-free business credit in India. Kinara Capital has disbursed over INR 5,000+ crores to date across 90,000+ collateral-free business loans thereby propelling vast financial inclusion of India’s MSME sector. Leading with a women- majority management team, Kinara Capital has raised the bar for gender inclusivity internally as an organisation and externally with its HerVikas program for women entrepreneurs. The company is qualified as a Systemically Important NBFC by the Reserve Bank of India (RBI) and is a debt-listed entity on the Bombay Stock Exchange (BSE). Founded in 2011, and headquartered in Bengaluru, Kinara Capital has 133 branches serving MSMEs across 100+ cities in India with a workforce of 1,600+ employees. Visit kinaracapital.com for more information and follow us on Twitter @KinaraCapital.

Scheme To Extend MSME Loans/Credits To Artisans, Craftspeople Launching on Vishwakarma Jayanti

Scheme To Extend MSME Loans/Credits To Artisans, Craftspeople Launching on Vishwakarma Jayanti

Now Artisans too can avail MSME loans: D. Chandrasekhar, ADC, Ministry of MSME, Govt of India.

PM Vishwakarma Kaushal Samman Scheme will be launched in Hyderabad and Warangal on 17th Sept: MSME Ministry Official

The PM Vishwakarma Kaushal Samman Scheme is expected to revive the rich Indian craft traditions and encourage the artisans to enrich the heritage, said – D. Chandrasekhar, Addl Development Commissioner, Ministry of MSME, Govt of India.

He was the chief guest at the Inauguration of the three-day Industrial & Engg Expo (Indexpo), supported by the MSME Ministry, Government of India with a focus on the future of manufacturing. The expo is currently underway till this Sunday.

Organised by Indore Infoline, it is their 7th edition.

It is supported by the MSME Ministry, NSIC Cherlapally Industries Association and other trade associations.

Scheme To Extend MSME Loans/Credits To Artisans, Craftspeople Launching on Vishwakarma Jayanti
D. Chandrashekar ADC of MSME (Extreme Ieft in Jacket) Ministry Seen Inaugurating Indexpo


Speaking further the official said the PM Vishwakarma scheme aimed to provide credit to artisans and craftspeople is set to be launched by Prime Minister Narendra Modi in Delhi on the occasion of Vishwakarma Jayanti on September 17. It will be launched in Hyderabad and Warangal in Telangana by various Ministers and officials, he said. 

The scheme will extend loans of up to Rs 1 lakh to artisans at an incredibly low interest rate of 5%. This interest rate is significantly lower than prevailing market rates, enabling artisans to access credit without the burden of exorbitant interest charges.

Nearly three lakh artisans are said to be benefitted across India. In Telangana, a significant number of artisans are said to benefit in Telangana.

MSME has financed 57 exhibitors out of 100 to exhibit their products in the IndExpo. We plan to support 17 exhibitions every year, D. Chandrasekhar said.

Mr Raj Kumar Agrawal, MD of Indore Infoline, the organizer of the expo said IndExpo allows industry professionals and enthusiasts to explore the latest advancements and trends in the manufacturing industry.

The future of industrial engineering is designing and manufacturing more flexible, connected, and adaptable machines, said Mr Raj Kumar Agrawal.

The Indexpo aims to bring together leading players, manufacturers, suppliers’ experts, and innovators from the industrial manufacturing and service sector under one roof.
Industrial Safety Equipment Seen at INDEXPO at Hitex
Industrial Safety Equipment Seen at INDEXPO at Hitex


The event is set to be a hub of knowledge-sharing, networking, and business growth.

100 Exhibitors are showcasing 20,000+ Products like Hand Tools, Machine Tools, Robotics, industrial automation, solar power plants, electricals and electronics, safety products and many other industry-specific products said Rajkumar Agrawal, Managing Director, Indore Infoline Pvt Ltd.

IIMA’s CIIE.CO Partners Reserve Bank Innovation Hub (RBIH) To Launches Swanari Techsprint 2023 Supporting Financial Solutions for Women-owned MSMEs

IIMA’s CIIE.CO Partners Reserve Bank Innovation Hub (RBIH) To Launches Swanari Techsprint 2023 Supporting Financial Solutions for Women-owned MSMEs
Launches Swanari Techsprint 2023

The initiative Swanari Techsprint aims to support SMEs/MSMEs building gender transformative financial solutions, and making a positive impact on the financial inclusion landscape

IIMA’s CIIE.CO has joined hands with the Reserve Bank Innovation Hub (RBIH) to launch Swanari Techsprint 2023 - an initiative of RBIH - focuses on advancing ‘End to End Digital Straight Through Process (STP) Lending Solutions for Micro to Medium-sized Women-owned Enterprises’, empowering them to access the financial resources they need to flourish. This edition of Swanari Techsprint will aim to address the large credit gap faced by women owned MSMEs.

The Swanari Techsprint 2023 winners will have an opportunity to do a paid Proof of Concept (POC) with one of India’s leading financial institutions HDFC Bank, and pitch for fast track pre-seed investment at CIIE.CO. Selected startups will also gain access to CIIE.CO's extensive mentoring and networking opportunities, providing them with a strong foundation for growth and success.

Commenting on the partnership, Supriya Sharma from CIIE.CO expressed, "Swanari Techsprint 2023 aligns with our focus on financial inclusion, especially women’s financial inclusion. Women entrepreneurs own and lead less than 20% of the MSMEs in India. Among several other factors, access to capital is a huge barrier for women looking to set up and grow their businesses. We are thrilled to collaborate with RBIH to help address this massive need. We are sure that this will go a long way in supporting early stage startups that are committed to making a meaningful difference in the lives of women entrepreneurs."

The Reserve Bank Innovation Hub recognises the significance of ensuring women's financial inclusion as a driving force behind economic growth. RBIH's Swanari Program taps into technology and innovation to enable 'Frictionless Finance for Every Woman in India.' RBIH works closely with the ecosystem through its various programs to help build solutions to specific problem statements. The current edition of TechSprint focuses on narrowing the gender gap by fostering innovative digital STP lending solutions tailored for women entrepreneurs. By extending chosen startups the opportunity to tap into its extensive resources and networks, RBIH aspires to drive impactful change in the financial ecosystem.

Applications for Swanari Techsprint 2023 are now open, and interested startups are invited to apply by 11th September 2023. More about this initiative here.

Built at IIM Ahmedabad, CIIE.CO is the country’s leading entrepreneurship centre and early stage technology investing platform. CIIE.CO backs fearless entrepreneurs building disruptive solutions and stands with the startups at their risky early stages, when they need most support while there is hardly any available. Through the continuum of incubation, acceleration, capital and insights – CIIE.CO offers everything it takes for these driven entrepreneurs to make a superlative impact. CIIE.CO is a Centre of Excellence backed by the Government of India’s DST. Over the last 20 years, CIIE.CO has made equity investments in more than 350 startups, accelerated over 1500 and mentored over 5000 startups over the last 20 years.

The Reserve Bank Innovation Hub (RBIH) – a wholly-owned subsidiary of the Reserve Bank of India (RBI) – is an organisation that enables frictionless finance to a billion Indians. RBIH functions as a focal platform, bringing together members of financial, technological and academic institutions, to promote and accelerate innovation across the financial sector. With a robust ecosystem that enables the exchange of ideas, research and development of prototypes, RBIH aims to not only strengthen the Indian financial system but also keep India at the forefront of global financial innovation.


Godrej Capital Launches NIRMAAN, a Digital Platform to Help MSMEs Grow their Businesses to their Potential

Godrej Capital Launches NIRMAAN, a Digital Platform to Help MSMEs Grow their Businesses to their Potential
  • Curated platform to provide MSME owners an all-inclusive opportunity to grow their businesses to their potential. 
  • Godrej Capital has partnered with trusted brands like Amazon Global Selling, Onsurity, and MSMEx to provide solutions around core challenges faced by MSMEs and will look to enhance its partner network in the near future. 
Godrej Capital, the financial services arm of the Godrej Group, today announced its new digital platform, Nirmaan, to provide MSME owners an all-inclusive opportunity to grow their businesses. Carefully curated, Godrej Capital Nirmaan packs a range of partners that provide services critical to the growth of MSMEs.

The MSMEs in the country today face challenges like limited access to the market and the ability to expand beyond their regional reach, lack of know-how about legal and regulatory compliance requirements, Limited access to technology, hiring and retaining a skilled workforce, and limitation of access to credit. Godrej Capital Nirmaan aims to solve these challenges and provide services under the categories of ''Grow the Business,'' ''Ease Business Operations,'' and ''Transformation through upskilling.''

The company has initially partnered with Amazon Global Selling, Onsurity, and MSMEx to help increase the potential market reach, simplify legal and compliance, enhance employee health and welfare, and provide business coaching for small businesses. In addition, while Godrej Capital Nirmaan users get product & pricing offerings at a discounted price point, Godrej Capital customers will be entitled to additional and exclusive pricing benefits.

Furthermore, the flagship platform is the first in the BFSI industry in India. It goes beyond its core lending offering and provides value-added services encompassing business growth opportunities, ease of business, and knowledge and network avenues.

Speaking on the launch, Manish Shah, MD & CEO at Godrej Capital, said, "The Godrej Group has a longstanding commitment to contributing to the growth of the Indian economy, and through Godrej Capital, we are proud to launch Nirmaan, which will enable MSMEs to grow their fullest potential and thus drive economic growth of the country. We have closely studied the growth challenges of MSMEs in the country, and along with the lending services we already provide, with Nirmaan, we can help solve some of those challenges and support the sector's growth."

Godrej Capital is focused on bringing more value-adding services to the platform through strategic partnerships and keeping updated with the challenges that must be solved.

In this initial launch phase, services will be promoted in 30 key markets across India but available in all corners of India.

Godrej Capital has, so far, has disbursed over INR 5300 crores since inception in November 2020 across housing, SME, and MSME loans. In addition, it has expanded its presence across 13 cities in India.

DMI Finance Announces the Closure of a $400 Mn Equity Investment Round Led by Mitsubishi UFJ Financial Group, Inc. With Participation From Existing Investors Including Sumitomo Mitsui Trust Bank Limited

DMI Finance Announces the Closure of a $400 Mn Equity Investment Round Led by Mitsubishi UFJ Financial Group, Inc. With Participation From Existing Investors Including Sumitomo Mitsui Trust Bank Limited

DMI Finance Private Limited (“DMI Finance”) today announced the closure of a USD 400 million equity investment round led by Mitsubishi UFJ Financial Group, Inc. through its consolidated subsidiary MUFG Bank, Ltd (“MUFG”), with participation from existing investor Sumitomo Mitsui Trust Bank Limited (“SuMi TRUST Bank”). This round includes primary and secondary transactions.

DMI Finance is a pure-play digital lender with products including consumption, personal and MSME loans. It leverages technology to optimize every step in the lending stack, from sales and underwriting through to customer service and collections.

DMI Finance sources and services customers through multiple digital channels – in particular it is an embedded digital finance partner of choice for leading businesses including Samsung, Google Pay and Airtel which work with DMI Finance to provide diverse financial products to their customers across India.

DMI Finance covers 95% of India's pincodes and has an accessible customer base of 25 million which is expected to grow to 40 million+ in FY24. It is projected to disburse over USD 2.5 billion in FY24 across products.

DMI Finance is AA- rated by ICRA and supported by leading Indian and international banks.

Shivashish Chatterjee, Co-Founder and Joint Managing Director of DMI Finance said: “Powered by world-leading digital infrastructure, India is in the midst of an unprecedented transformation. DMI Finance aims to be the trusted partner for Indian households and small businesses in addressing their rapidly growing financial needs. We are delighted to welcome MUFG and SuMi TRUST Bank on this pioneering mission, on which we embarked in 2016, of providing credit in real time to our clients. We are grateful to them for this display of confidence in the ability of our team to deliver superior results, both for our clients and our investors.”

Yuvraja C. Singh, Co-Founder and Joint Managing Director of DMI Finance said “We feel that the Indian financial market has huge potential for growth over the next decade (or two) and are fortunate to have the strategic investors that we do, who share our values and long-term vision. There is a large underserved population when it comes to financial services in India, and it is our goal to promote financial inclusion and support this market. It is very important to us that all stakeholders have a positive experience working with DMI, and this requires us and our investors to have philosophical and strategic alignment. With their patience and deep experience in the financial markets, we feel that MUFG and SuMi TRUST Bank, are the perfect investors for us. We look forward to working together.”

Masashige Nakazono, Managing Director, Head of Global Commercial Banking Planning Division of MUFG Bank said: “For MUFG, Asia is a significantly important and second home market, and India is one of our most expected growing markets with the rapid population growth and foundation of digital infrastructure, showing a strong trend and potential of expansion on digital financial services to the unbanked customers. We strongly believe that DMI Finance has been building up a robust and distinguished business model with external partnership based on the power of its cutting-edge technologies. We’re excited to support DMI Finance’s growth through our investment as a strategic partner and to contribute to the financial inclusion in India. We are looking forward to accompanying DMI Finance’s promising voyage in the digital financial market.”

Masaya Noda, Managing Executive Officer of SuMi TRUST Bank said: “We feel honoured to participate in this equity investment round and contribute to DMI’s growth as a “Strategic Investor”, following our initial investment that was also the first by a Japanese company in December 2021. We are confident that DMI’s digital financial services, which organically combine fintech and last-mile reach capabilities, will continue to contribute significantly to India’s growth, and that DMI itself will achieve further growth. We also look forward to creating business opportunities to collaborate with DMI as its business partner, and to growing together with DMI through India-related business.”

About the DMI Group

DMI Finance is a Systemically Important Non-Banking Financial Company and part of the DMI Group. For more information, please visit: https://www.dmifinance.in.

Founded in 2008 and supported by a deeply experienced team across 40+ offices in India, the DMI Group is a pan-India financial services platform with core businesses in digital finance, housing finance and asset management. It has raised over USD 1.5 billion of equity investment and is supported by global institutional investors, strategic family offices and leading Indian and international banks.

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,100 locations in more than 50 countries. The Group has about 160,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our clients, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.

About Sumitomo Mitsui Trust Bank, Limited (SuMi TRUST Bank)

Established in 1925, SuMi TRUST Bank is Japan's largest trust bank with JPY 224 trillion (~USD 1.95 trillion) of custody assets and JPY 87 trillion (~USD 760 billion) of assets under management. SuMi TRUST Bank provides a wide range of services concerning commercial bank business, asset management and administration, and disposal of assets, with trustee business such as pension trusts and investment trusts, and complementary businesses such as real estate brokerage and stock transfer agency services. SuMi TRUST Group's purpose is "Creating new value with the power of trusts and let prosperous future for our clients and society bloom" and is promoting initiatives to achieve both social value creation and economic value creation. For more details, please visit www.smtb.jp/english.

Tide and WE Hub Launch ‘Sarthika’ to Operationalise Government Schemes for Women MSMEs

Tide and WE Hub Launch ‘Sarthika’ to Operationalise Government Schemes for Women MSMEs

Aims to bridge the information and last mile delivery gap in public schemes and initiatives

Targets ease of doing business for 500,000 women entrepreneurs across India by 2027

Tide, the UK’s leading SME-focused business financial platform, that recently launched in India, and WE Hub, Telangana’s state-led incubator for women entrepreneurs have launched the ‘Sarthika’ programme, to bridge the information and last mile delivery gaps in state and central government schemes for women-led micro, small and medium-sized enterprises (MSMEs).

Through this initiative, Tide aims to reach women entrepreneurs across India and enhance the ease of doing business by improving access to information and uptake of public schemes and initiatives.

The Sarthika web portal (https://www.tide.co/en-in/wehub-tide/) will work with the cohort at the grassroots level to help them navigate through the application process, eligibility criteria, and other important aspects of the schemes. After the completion of full KYC process, Tide India and WE Hub will work with relevant government departments to quicken operationalisation of the schemes.

The programme’s first phase consists of three schemes
  1. Prime Minister's Employment Generation Programme (PMEGP): The scheme focuses on credit subsidy for self-employment.
  2. Raw Material Assistance Scheme: This scheme offers access to higher quality raw materials.
  3. Barcode Registration Subsidy: This scheme enables businesses to conform to global standards of trade and commerce.
The Government of India has rolled out a series of measures to boost growth and opportunities for women in business. However, lack of information about eligibility and availability of schemes, poor allocation of resources, and complex processes have led to weak demand from the people these schemes could best serve.

The Sarthika programme comes at a time when W20, under India’s G20 presidency, is focused on realising the vision of women-led development, with women as active change agents of India’s growth story rather than passive recipients of development. The W20 is an official G20 engagement group focused on gender equity.

WE Hub CEO, Deepthi Ravula said, “Enabling access and opportunity for women to partake in the economic workforce of the nation is of pivotal importance to the growth of the nation. While there have been efforts to ease this process, awareness and handholding support is often amiss. In our collaboration with Tide, we are looking at addressing this problem statement and are positive that this will lead to a monumental change!”

This move also elevates Tide’s India Chapter of ‘Women in Business’ and the company’s plan to work as an incubator to digitally transform women-led SMEs beyond Tier 2 and 3 regions of India.

Kumar Shekhar, Deputy Country Manager, Tide India said, “As India presides over G20, there is an increased need to focus on the inclusion of women in finance and creating an enabling and non-discriminatory ecosystem. Last mile delivery of schemes and incentives is a common challenge faced by governments across the globe. While there is no magic bullet to bridge this gap, we are proud to launch a programme that will not just remove barriers to women-led development but help them realise their full potential.”

Earlier this year, Tide also conducted a mentorship programme for women entrepreneurs to decode the Union Budget 2023 and help them understand how new government policies, tax laws, and funding opportunities may affect their businesses.

About Tide:

Founded in 2015 and launched in 2017, London-based Tide is now the leading business financial platform in the UK. Tide helps SMEs save time (and money) in the running of their businesses by not only offering business accounts and related banking services, but also a comprehensive set of highly usable administrative and connected solutions. Tide has nearly 500,000 SME members in the UK (around 9% market share) and has recently launched in India.

Tide has been funded by Apax Digital, Anthemis, Augmentum, Creandum, Goodwater, Jigsaw, Latitude, LocalGlobe, Passion Capital, SpeedInvest, SBI Group and Tencent, amongst others. It employs 1250 professionals worldwide, was awarded the ‘New Market Entrant of the Year’ at the UK-India Awards 2022 and is among the Sunday Times Fast Track Disruptors to Watch. Tide has a long-term ambition to be the leading business financial platform globally.

Tide selected India as its first international market in 2020. With over 500 highly skilled employees in India, most based in its Hyderabad technology centre, Tide has launched two business financial solutions for SMEs in India – a Business Account and a RuPay-powered Expense Card and is working to introduce a host of other features to the Tide app in the next few months.

https://www.tide.co/en-in/

WE HUB is the first-of-its-kind and only state-run platform for women entrepreneurs by the Government of Telangana. WE HUB supports women entrepreneurs with innovative ideas, solutions, and entities focusing on emerging areas in technology and allied sectors. WE HUB also supports under-explored/unexplored sectors, such as FMCG, retail, and e-commerce, including the service sector. The mandate and goal of WE HUB are to eliminate financial and societal barriers for women and help them succeed in their enterprises. WE HUB aims to create a supportive community for aspiring and existing women entrepreneurs where they can interact with VCs for funding, connect with corporates for scaling up their business, get advice from mentors to fine-tune ideas; and benefit from technical mentoring.

http://wehub.telangana.gov.in/

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