”MSMESaksham” for MSMEs has been launched in India

Guides MSMEs for quick access to finance & will also support their credit obligations

• The Small Industries Development Bank of India in association with
  TransUnion CIBIL has launched a comprehensive financial education and
  knowledge platform
• The one-stop knowledge portal- MSMESaksham, will guide MSMEs (micro,
  small and medium enterprises) seeking seamless and quick access to finance
• The portal will have a consolidated list of all the schemes launched by the
  Centre and state governments for MSMEs

Importance of MSMESaksham

• SIDBI and TransUnion CIBIL launch MSMESaksham – a one-stop knowledge
  platform for MSMEs
• This one-stop knowledge portal will guide MSMEs seeking seamless and quick
  access to finance while also supporting entrepreneurs in managing their credit
  obligations
• Focused on two key pillars of financial knowledge and access to credit,
  MSMESaksham leverages SIDBI’s extensive network of MSMEs as well as
  information and insights from TransUnion CIBIL to create an educational
  ecosystem that can help build structurally strong MSMEs
• This aligns with our Mission Swavalamban wherein targeting youths to imbibe
  entrepreneurship culture MSME Saksham being a digital platform aims to
  facilitate and strengthen credit information availability for MSMEs, pan India
• With the launch of MSMESaksham, it ie being strengthened the commitment to
  empower MSMEs and help develop a productive ecosystem conducive for
  resurgence and sustained growth of the sector
• MSMESaksham is a single destination for MSMEs to access a wealth of helpful
  financial information and tools
• Government schemes and interventions, access to their CIBIL Rank and Score,
  loan offers from banks and above all a comprehensive knowledge hub
  encompassing business insights and learning modules about credit and
  creditworthiness

Key Highlights of MSMESaksham

• Available in two languages – English and Hindi
• Consolidated list of all GOI and State government schemes and interventions
  launched to help MSMEs
• Knowledge Hub with informative articles, how-to info graphics and videos, and
  business insights to help entrepreneurs and business owners start or grow
  their businesses
• Business Insights and MSME Resources showcase credit trends and regional
  insights
• A seamless credit journey with all the necessary tools:
  i) CIBIL Score & CIBIL Rank to help MSME owners understand their
  company’s credit profile
  ii) Special loan offers for MSMEs
• Help Centre and Events calendar with frequently-asked questions about credit
  and CIBIL Score and CIBIL Rank, MSME news snippets and the latest
  announcements

What is “Small Industries Development Bank of India (SIDBI)”?

• It is a development financial institution in India, headquartered at Lucknow
  and having its offices all over the country
• Its purpose is to provide refinance facilities and short term lending to
  industries, and serves as the principal financial institution in the Micro, Small
  and Medium Enterprises (MSME) sector
• SIDBI also coordinates the functions of institutions engaged in similar activities
• SIDBI operates under the Department of Financial Services, Government of
  India
• SIDBI is one of the four All India Financial Institutions regulated and
  supervised by the Reserve Bank of India; other three are EXIM Bank, NABARD
  and NHB
• But recently NHB is in government control by taking more than 51% stake
• They play a salutary role in the financial markets through credit extension and
  refinancing operation activities and cater to the long-term financing needs of
  the industrial sector

Pic courtesy : taxguru.in