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SIDBI launches Samridhi - the virtual assistant & Bankability Kit

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SIDBI celebrated its as day of Sampark (connect), Sanwad (interaction), Suraksha (security) and Sampreshan (disseminate).Managing Director of launched a series of initiatives. He mentioned that the occasion is an opportunity to look within and reinvent our strategy for course correction and development.

While flagging off its 'MSME contact programme'; he called upon bank's officers to use the day long stay at MSMEs to come closer in understanding their opportunities, challenges and the eco system so as to grasp as to what can be done to ease the way they do business. He told this is what SIDBI has been created for and learning with footprints at field level is the true spirit of the organisation. CMD mentioned that SIDBI has taken a series of steps both from direct lending (launch of growth support to MSME -SMILE loans around 8.12% and enhancing its footprint through string of Resident ) as also policy advocacy ( launch of CRISIDEX, to gauge MSME aspirations, and MSME pulse, the health tracker for MSMEs).

A new step forward in commencing Bancassurance services for MSMEs was also taken. An MoU was signed with The and two MSMEs were SIDBI is thus evolving as one stop solution provider.

While launching the revamped SIDBI website ( CMD mentioned that it is an attempt to reimagine the site to reflect the new vibrant face of SIDBI aiming to transform the MSE ecosystem.

Besides providing crisp and precise information about the various strategic interventions made by SIDBI, it exhibits a great potential for the MSME aspirants through its other offerings in the form of a "Contactless Loan Platform" likely to be introduced on the website shortly. SIDBI also launched Samridhhi- the on banks revamped universal loan portal It will answer standard queries of aspirants 24*7.

A 'Bankability Kit' (brought in partnership with of Baroda and IDBI Bank) was also launched. It is a step to look beyond financial literacy and be a trusted guide for aspirants and existing entrepreneurs to know entrepreneurial self, know & know It covers what bankers look at, how to communicate with banks, the care to be taken, do's and don'ts etc.

Mr. mentioned that the coming year will see a slew of measures to create a large positive impact on MSME sector. New SIDBI will endeavour to contribute to NEW and Entrepreneurial India in a manner that no one can imagine MSME without us. He mentioned that while next year will be year of Direct Finance, Institutional financing shall be growth engine and Promotion & Development shall be core strategy. In order to have feet on street, SIDBI shall endeavour to work with teachers and colleges in some states to motivate people to become and not job seekers. The plan is to create a network which will result in selection of model entrepreneurs every year who will be supported by SIDBI in creating sustainable business models. SIDBI is also planning to start MSE award to recognise change-maker MSEs at bottom of pyramid.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 02 2018. 15:07 IST