GST Sahay

GST Sahay

SIDBI, in association with Online PSB Loans Ltd (OPL) and iSPIRT, has developed a reference GST Sahay Application using the Open Credit Enablement Network (OCEN) and Account Aggregator (AA) frameworks for providing ‘on tap’ invoice-based financing (cash flow based) for small value credit to micro enterprises. The app journey is paperless and covers the entire credit life cycle from origination to repayment. It uses trade information from GSTN, Bank information through AA, Credit bureau, etc., and also other components of India Stack, like e-sign and e-stamping, e-NACH mandate, etc. to achieve paperless process. Collateral free/unsecured small value loans to Micro Enterprises, basis GST invoices, will encourage more and more Micro enterprises to come under GST framework and would result in growth of the Micro Enterprises.