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Online finance facilitation centre for MSMEs launched

Online finance facilitation centre for MSMEs launched

With an objective to facilitate access to finance and credit for SMEs, an online finance facilitation centre has been launched, equipped with one-stop-shop that will aggregate different funding options for the small businesses.

Launching the facilitation centre here, an initiative of the industry chamber- CII, MSME Minister Kalraj Mishra emphasized the need to have an integrated approach which will create opportunities for the common people as well as young entrepreneurs. This will not only build confidence, but also self-sustainability resulting in self-development and nation building.

While recognising the various issues related to the sector, the minister laid emphasis on skill development of not only the entrepreneurs, but also the labourers. As there are over four lakh unregistered enterprises, how to bring them into the mainstream is what needs to be worked upon and this would require identification of several new sectors like defence and aviation, he added

The ‘Online Finance Facilitation Centre’ will operate as a one-stop-shop, aggregating financing options for SMEs from various major financial institutions. SME Members across India can access this facility online for their credit requirement and it will facilitate the SMEs with documentation and preparation of bankable project proposals. On the other hand, the complete KYCs will help banks / financial institutions to render quick delivery.

Courtesy: (KNN Bureau)