MSME Saksham is one stop knowledge platform for MSMEs launched by SIDBI and TransUnion CIBIL
In order to support the revival of India’s economy and strengthen Micro, Small and Medium Enterprises (MSMEs), Small Industries Development Bank of India (SIDBI) in association with TransUnion CIBIL (Credit Information Bureau (India) Limited or TransUnion CIBIL Ltd) has launched MSMESaksham, a comprehensive financial education and knowledge platform for MSMEs. This unique one-stop knowledge portal will guide MSMEs seeking seamless and quick access to finance while also supporting entrepreneurs towards managing their credit obligations.
Q: SIDBI Overview?
Small Industries Development Bank of India (SIDBI) was set up on 2nd April 1990 under an Act of Indian Parliament, acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for co-ordination of functions of institutions engaged in similar activities
Q: CIBIL Overview?
TransUnion CIBIL is India’s leading credit information company and maintains one of the largest repositories of credit information globally. It has over 3000 members–including all leading banks, financial institutions, non-banking financial companies and housing finance companies–and maintain more than 1000 million credit records of individuals and businesses. Its mission is to create information solutions that enable businesses to grow and give consumers faster, cheaper access to credit and other services. It creates value for its members by helping them manage risk and devise appropriate lending strategies to reduce costs and increase portfolio profitability. With comprehensive, reliable information on consumer and commercial borrowers, they are able to make sound credit decisions about individuals and businesses. Through the power of information, TransUnion CIBIL is working to support its members drive credit penetration and financial inclusion for building a stronger economy.
MSMEs is vital for economic resurgence and it is vital to empower MSMEs by making them financially aware and loan-ready so that they are able to access timely and affordable financial support to develop their businesses. MSMESaksham is a multilingual digital platform that will facilitate and strengthen credit information availability for MSMEs across our country.
Source: MSMESaksham portal