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Sidbi, CSCeGS to collaborate for MSME lending

Sidbi said it has entered into a memorandum of understanding with CSC e-governance Services (CSCeGS) to take its Udyami Mitra portal to the unserved and the underserved MSMEs. The portal allows entrepreneurs to apply for a loan without physically visiting bank branches. CSCeGS is a special purpose vehicle (SPV) set up by the ministry of electronics and IT (MeitY) which acts as connect point for various digitally aligned services to villages in the country. Common Service Centers, one of the crucial enablers of the Digital India program, are the access points for delivery of various e-governance and business services to citizens in rural and remote areas of the country. The MoU is aimed to facilitate financial support to the upcoming CSCs through bank financing. Mohammad Mustafa, CMD, Sidbi, said the MoU is being entered into to give programmatic approach to tap young talent from small towns and rural areas to set up MSMEs and emerge as employment giver as against being employment seeker.

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