Yogi govt to tie up with micro lenders for small business funding

UP govt plans to integrate MFI channel with its flagship One District One Product scheme

Uttar Pradesh is mulling a tie-up with microfinance institutions (MFIs) to ease the flow of funds to the beleaguered micro, small and medium enterprises (MSMEs).  

The Yogi Adityanath government is planning to integrate the MFI channel with its flagship One District One Product (ODOP) scheme launched earlier this year.  

UP MSME and Export Promotion Minister Satyadev Pachauri told Business Standard that the state was working on a roadmap to tap MFIs for providing cheaper credit to small businesses. 

The MSME sector is the backbone of UP's industrial landscape and contributes 60 per cent to its annual industrial output. It employs 40