STAND UP MITRA & UDYAMIMITRA PORTALS (TWIN PORTALS)
- SIDBI, with the support of DFS, developed Standup India portal and Udyamimitra portal in 2016 to operate the Standup India program of the Government of India. Udyamimitra portal was revamped to enable SIDBI execute digital implementation of several credit/ MSME linked schemes under different Ministries of Government of India. These digital projects were customized and involved workflows for multiple stakeholders of the respective Ministries. Additionally, SIDBI also extended its expertise in scheme formulation. This plug-n-play model yielded a very low turnaround time for onboarding these schemes on the platform in addition to providing significant efficiency in program implementation. SIDBI has created separate front facing portals for different ministerial programmes enabling branding and respective ecosystem onboarding along with seamless integration with Udyamimitra at backend. The approach has resulted in the emergence of Udyamimitra platform as an effective digital asset for SIDBI.
PSB LOANS IN 59 MINUTES PLATFORM
- In 2018, SIDBI led consortium of Public Sector Banks set up a contactless credit platform coming out of EASE program of GoI as a digital market place for credit facilities.
- The “PSB Loans in 59 Minutes” portal was launched on November 02, 2018. The platform has received over 7.11 lakh applications of which 5.51 lakh applications have been approved. Thus, the platform is established as a significant digital intervention in providing credit to MSMEs, with scope for new interventions in line with an evolving and expanding digital landscape. OPL has also developed and has been managing a national portal for Government schemes (www.jansamarth.in) which was launched by Hon’ble Prime Minister. It has also been involved in developing and managing the Jan Suraksha portal as also the Udyam Assist Platform. OPL is now providing several straight through credit processing solutions to several leading Banks in the country. It has also co-created a FIT Rank in association with CIBIL TransUnion under mentorship of SIDBI.
- For more details, please visit - https://www.psbloansin59minutes.com
GST SAHAY
- SIDBI in association with Indian Software Products Industry Round Table (iSPIRT) and Online PSB Loans Ltd. (OPL) has built SIDBI GST Sahay App, an On-Tap Invoice Based Financing (IBF) Application, to enable the provision of completely paperless, presence less, collateral free, cashflow based and straight through financing to MSMEs for small ticket loans for their Purchase invoices and sales invoices.
- SIDBI has completed testing under RBI Regulatory Sandbox Cohort 3 on the theme of ‘MSME Lending’ of reference mobile App of GST Sahay for Sales Invoice Based Financing-SIBF. It has also developed limit based solutions for both supply or purchase invoice financing and after testing is now in the process of scaling up the implementation of the GST-Sahay platform in phased manner.
- The GST Sahay ecosystem is expected to grow gradually as a credible way of providing purpose based working capital to micro and small businesses. A common protocol will help in its adoption by Banks and users bringing don cost and effort for everyone. Several Banks have started offering assistance using the framework and in in future an OCEN marketplace shall also be launched.
MSME FORMALIZATION PROJECT: UDYAM ASSIST PLATFORM
- India has a large number of Informal Micro Enterprises (IMEs) not having the required documentary evidence or ability to self-register on Udyam portal. In this background, Ministry of MSME has authorised SIDBI to develop the 'Udyam Assist Platform' (UAP) for enabling the assist registration process of IMEs with the help of Designated Agencies (DAs). DAs comprise regulated entities like banks, NBFCs, etc. along with government departments. MoMSME has also authorised SIDBI to collect data of IMEs (including information of Aadhar) from DAs to register IMEs and issue them Udyam Registration Number (URN) and Udyam Assist Certificate (UAC). To address this, Ministry of MSME and SIDBI jointly started working on the MSME Formalization project, wherein in all informal enterprises shall be registered on the Udyam Assist Platform (UAP) and subsequently shall be linked to various facilities such as access to markets, access to credit, subsidy etc. An Assist methodology with the help of Designated Agencies like Banks, MFIs, NBFCs, etc. to register the informal enterprises on UAP has been adopted. The UAP was implemented and formally inaugurated by the Hon’ble Minister of MSMEs, GoI on January 11, 2023. Over 130 DAs are enrolled on UAP. Till date, over 90 lakh IMEs are registered on UAP with the number expected to grow in the coming months.
- The principal objective of the MSME Formalisation project is to provide Udyam Registration to the large number of Informal Micro Enterprises (IMEs) not registered with GST authorities. Considering the informal profile of IMEs, UAP has been developed by SIDBI with Designated Agencies (DAs) like Banks, Non-Banking Financial Companies (NBFCs), Micro Finance Institutions (MFls), etc. and government departments assisting in registration of IMEs. MoMSME has notified that certificate issued by UAP to IMEs shall be on par with Udyam Registration Certificate for availing Priority Sector Lending (PSL) benefits. RBI also has issued guideline that IMEs having Udyam Assist Certificate shall be treated as Micro Enterprises under MSME for PSL classification. UAP was launched by the Hon’ble Minister of MSMEs, GoI on January 11, 2023. At present, over 135 DAs are enrolled on UAP and over 90 lakh IMEs have been registered on UAP.
- In subsequent phases of MSME formalisation project, initiatives shall be taken to enable better access for the registered IMEs to the emerging digital ecosystems for financial services, e commerce, skill/ knowledge, government scheme benefits, etc.
- For more details, please visit - https://www.udyamassist.gov.in
TREDS OPERATIONS
- RBI introduced TReDS (Trade Receivables Discounting System) platform for discounting of bills of MSMEs to help in realizing their receivables promptly. It is a unified platform for Sellers, Buyers and Financiers, facilitating uploading, accepting, discounting, trading and settling of invoices / bills of MSMEs and facilitating both receivables as well as payables factoring (reverse factoring). TReDS is End-to-End digital platform and provided complete paperless operations. TReDS has become an effective tool to resolve the credit challenges faced by MSMEs. It enables sellers to sell their invoices to financiers at competitive discount rates through an auction mechanism on the digital Platform, thus unlocking working capital quickly, and provide an easy and quick access to all the funds. SIDBI along with NSE has set up one of the TReDS platforms, i.e., Receivables Exchange of India Limited (RXIL).
- SIDBI is now participating as a Financier on all the three operational TreDs platforms viz. RXIL, M1 Exchange and InvoiceMart.
- In the FY 2022-23, SIDBI has assisted 1897 MSMEs by discounting their 87106 invoices of a total amount of ` 1759.62 Crores.
BLOCKCHAIN BASED WHOLESALE LENDING SECURITY SHARING
- NBFCs / MFIs offer underlying loan assets as security for assistance extended by Banks / Institutions for on-lending to the MSME sector. The security interest created with lenders is dynamic in nature and open to certain risks, viz., duplication of security interest, inadequate security cover, etc. SIDBI has developed a blockchain based ecosystem for Security Information (SI) Exchange. Such an ecosystem will offer real time, immutable data, tracking of loan assets, thereby nearly eliminating possibility of misrepresentation of information. The system will open the doors of Banks / Institutions for smaller / lower rated NBFCs / MFIs that will enable extension of credit to informal enterprises at much higher scale. The system is expected to be launched soon for the ecosystem.
OPEN NETWORK FOR DIGITAL COMMERCE (ONDC)
- ONDC, launched by GoI, is expected to make e-Commerce more inclusive and accessible for consumers. Consumers can potentially discover any seller, product or service by using any compatible application or platform, thus increasing freedom of choice for consumers. ONDC facilitates registration and selling by several merchants, retailers, B2B companies and service providers, thus encouraging registration of small businesses and selling through the platform. Hence, ONDC would standardize operations, promote inclusion of local suppliers, drive efficiencies in logistics and lead to enhancement of value for consumers. SIDBI has signed an MoU with ONDC to help artisans, MSMEs, associations, NGOs, etc. to onboard ONDC to help them in digital marketing of their products. SIDBI has been able to onboard artisans, weavers, nano & small enterprises spanning pan India giving them access to e-market space, increase in product value, direct linkage to customer thereby equipping them with better negotiating capabilities. Artisans of various clusters like Kanchipuram, handloom, artisanal and Mann Deshi Foundation have widened their horizon on the ONDC network.
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Last Updated: 14-04-2025