Sidbi to launch digital platform for SMEs

Small Industries Development Bank of India (Sidbi) on Monday said it will launch a digital platform that will educate stakeholders in the small and medium enterprises (SME) ecosystem and have information on coronavirus-related initiatives for the sector.

The platform, 'India SME Services Platform', designed by Sidbi, will give micro, small and medium enterprises (MSMEs) information about starting operations, getting finance or credit enhancement and other support services.

The government can also monitor actions on policies, schemes and programmes for the sector.

Even the regulators can tap macroeconomic trends, compliances, risk management and systemic aspects through the platform.

"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 at one place and one place for all kinds of initiative," Sidbi Chairman and Managing Director Mohammad Mustafa said in a release.

The platform will have a webpage encompassing a dashboard of all schemes being implemented by the central government, state governments, banks and industry associations.

It will give financiers an opportunity to look for marketplace, documentation support and loan management.

Even industry associations can avail of window for insights and analytics, partnerships and directory, the release said.