FMC, YES leaders & dignitaries unite to drive Panipat MSMEs towards global sustainability growth
 

The workshop aimed at building awareness and facilitating access to green financing solutions, while also sensitizing MSMEs on evolving sustainability requirements in global markets, particularly the European Union.
 

The session was organised by the Foundation for MSME Clusters (FMC) along with its consortium partners Copenhagen Business School and SIDBI, bringing together key stakeholders including representatives from the Bureau of Energy Efficiency (BEE), Small Industries Development Bank of India (SIDBI), and the Haryana MSME Department.
 

The event opened with remarks from Mr. Rajat Grover, President, YES, who emphasised the urgency for MSMEs to align with global sustainability norms.
 

A significant focus of the session was on SIDBI’s green financing products, including SPICE, EDGE, Working Capital, Machinery Loans, Sthapan, and EV financing, which are designed to support MSMEs in adopting sustainable practices. Participants were also introduced to the BEE ADEETIE Scheme, which promotes energy efficiency investments.
 

In addition, officials from the Haryana Government shared insights on various state-level support mechanisms under the Haryana Enterprise & Employment Policy (HEEP), including Freight Assistance, Market Development Assistance (MDA), Testing Equipment support, Quality Certification, Stamp Duty reimbursement, and Electricity Duty exemption. The session also covered benefits under the Haryana Textile Policy and the PADMA Scheme for pollution abatement in textile dyeing units.
 

As a key highlight of the workshop, Sustainable Production Manuals specifically developed for the Panipat Textile Recycling Cluster were officially launched. In addition, a Digital Product Passport (DPP) pilot programme was also launched, with support from Green Story, to enhance data readiness and traceability of textile waste within the Panipat cluster.
 

The workshop also linked these financial and policy interventions with upcoming European Union regulations, including the Ecodesign for Sustainable Products Regulation (ESPR), Extended Producer Responsibility (EPR), and Waste Shipment Regulation (WSR). Participants were sensitized on the growing importance of traceability, circularity, and compliance, including emerging requirements such as the Digital Product Passport (DPP).
 

Industry leaders from the Young Entrepreneurs Society (YES), including Mr. Rajat Grover, President, and Mr. Raman Chhabra, Ex-President along with YES Members, were present and expressed strong commitment towards enabling Panipat’s MSMEs to transition towards sustainable and globally competitive business practices.
 

Dignitaries Present

The workshop was graced by the presence of:

• Mr P. Shyam Sundar, Director, Bureau of Energy Efficiency (BEE)

• Mr Vikas Jangra, Joint Director, Haryana MSME Department

• Ms Sonica Chabra, Assistant General Manager, Small Industries Development Bank of India (SIDBI)

• Mr Peter Lund Thomsen, Professor, Copenhagen Business School, Denmark

• Ms Uzma, Assistant Professor, Copenhagen Business School, Denmark

• Ms Devyani Hari, Senior Director, Center for Responsible Business
  ​

Their participation underscored the strong institutional support available for MSMEs in their transition towards sustainable and compliant business practices.
 

The workshop witnessed active participation, with MSMEs showing keen interest in accessing financing support, undertaking energy efficiency improvements, and aligning with global sustainability standards.
 

The event concluded with a vote of thanks by Mr. Abhishek Naga, Deputy General Manager (FMC), who appreciated the active participation and reaffirmed FMC’s commitment to supporting the textile ecosystem on its sustainability and compliance journey.
 

The Green Threads Project, supported by the EU SWITCH-Asia Programme, aims to accelerate the transition of India’s textile and apparel sector toward more sustainable, circular, and resource-efficient production practices. As global markets—especially the European Union—tighten sustainability regulations, MSMEs face rising pressure to demonstrate compliance, transparency, and environmental responsibility across their supply chains.
 

The project focuses on capacity building, policy dialogue, awareness creation, and technical support for MSMEs to help them:

• Understand upcoming EU regulations such as ESPR, DPPs, and WSR

• Improve circularity practices, waste management, and product design

• Strengthen competitiveness in global markets

• Build long-term resilience through sustainable business models
  ​

The Foundation for MSME Clusters (FMC) is implementing the project in India to ensure that MSME clusters—especially in textile hubs like Panipat and Amroha—are not left behind in the global shift toward greener manufacturing. FMC’s involvement reflects its long-standing commitment to helping MSMEs adopt better practices, access new opportunities, and remain globally competitive.

About FMC
Foundation for MSME Clusters (FMC), a leading non-governmental, not-for-profit public charitable trust, established in India in 2005. FMC has made remarkable strides in fostering sustainable livelihoods and environmental progress through our innovative cluster development approach. Our work spans more than 300 MSME clusters, supporting over 100,000 artisanal and industrial units, ranging from household operations to medium-sized production entities. As an empanelled Nodal Agency with the Ministries of MSMEs and Rural Development, FMC extends support to prominent schemes like SFURTI, and is also providing technical, research, and evaluation support to various organizations such as SIDBI & KVIC. FMC has implemented multiple projects on environment and livelihoods with support from agencies like NABARD, UNIDO, UNDP, EU, ADB, and major corporates such as Cisco, Mahindra Finance, HCL, Yes Bank, and Hindalco.

Axis Max Life and Saarathi Finance Announce Strategic Partnership to Strengthen Financial Security for India’s MSMEs
 

By leveraging Saarathi’s last-mile reach, this partnership will provide Axis Max Life’s insurance product - Group Credit Life Secure (GCLS) (UIN: 104N072V04), to safeguard the interests of micro and nano-entrepreneurs. This product will act as a "security shield," ensuring that in the event of an unfortunate incident, the debt burden does not fall on the family or the business.

Sumit Madan, Managing Director and Chief Executive Officer, Axis Max Life, said, “Our partnership with Saarathi Finance is a step toward securing the entrepreneurial heart of India. By combining Saarathi Finance’s seamless digital-first lending with Axis Max Life’s consistent industry-leading claims settlement, we are bridging the MSME credit gap with a safety net that makes protection an accessible reality for thousands of entrepreneurs. This partnership strengthens our commitment to fueling growth in India’s vibrant local markets by merging technological innovation with a deep-rooted understanding of small business dynamics. By integrating simple, relevant protection directly into the digital credit journey, we are ensuring that for every MSME, financial progress remains resilient, safeguarding the livelihoods of those who power our economy."

Vivek Bansal, Founder and Chief Executive Officer, Saarathi Finance, said, “In India, over 90% of MSMEs operate with thin capital buffers, and a single disruption can wipe out years of effort. Saarathi Finance is providing the right credit solutions to support the growth of these MSMEs. The partnership with Axis Max Life acts as an enabler by providing protection through embedded insurance into lending that helps turn loans into long-term security frameworks and remove uncertainties. With this, the businesses can focus on growth instead of worrying about what might go wrong.” 

This partnership also marks a significant milestone toward the national vision of "Insurance for All by 2047," driving financial inclusion for MSMEs across Tier 3 and Tier 4 towns of India. By combining Axis Max Life’s protection expertise with Saarathi’s focus on the "Bottom of the Pyramid," the partnership addresses the critical insurance gap. Through a commitment to long‑term value instead of short‑term lending, both entities intend to position financial protection as an essential enabler for India’s rising entrepreneurs.

About Axis Max Life Insurance Limited (www.axismaxlife.com)

Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited (“MFSL”) and Axis Bank Limited. Axis Max Life offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr.

IRDAI Registration. No – 104

Company Information Number - U74899PB2000PLC045626

About Saarathi Finance

Saarathi Finance & Credit Pvt Ltd. is an NBFC focused on providing accessible and tailored credit solutions to MSMEs across semi-urban and rural India. With a mission to bridge the ₹44 lakh crores credit gap in the MSME sector, Saarathi combines technological innovation with a deep understanding of local markets to offer loans that meet the unique needs of small business owners. With a rapidly growing footprint of 60+ branches across 6 states, Saarathi Finance operates with the guiding principle: “Aap Akele Nahi Hai"- You are not alone.

For more information, visit www.saarathifinance.com.

The report points to a resilient small business credit environment marked by sustained portfolio expansion, gradual formalisation, wider lender participation and healthy asset quality.  

Key Findings

Strong Credit Growth: Aggregate small business credit exposure reached ₹46 lakh crore, up 16.2% YoY, with active loan accounts rising 11.8% YoY to 7.3 crores. Comprehensive policy initiatives for the MSME sector including implementation of several Government credit schemes have played a pivotal role in sustaining strong credit growth.

Increased Formalization: Sole proprietors form ~80% of credit and ~90% of borrowers. The fastest-growing cohort is “sole proprietors with entity presence,” up 20% YoY, led by LAP. As of Sep’25, 23.3% were new-to-credit and 12% new-to-enterprise, signaling increased formalization.

NBFCs Expanding Market: Private banks lead enterprise lending, closely followed by PSBs while NBFCs gain share among sole proprietors with more than 41% share.

Unsecured Loan Growth: For enterprises, working capital dominates (~57% POS), while term loans fund capex. For sole proprietors, LAP leads, followed by business and CV loans. Unsecured loans grew 31% YoY despite stress concerns.

Credit Momentum in Smaller States & Services: MH, TN, UP, GJ lead by portfolio size, but TS, AP, WB show high growth. Beyond-Top-100 locations now hold a rising share, especially in UP, MP, KA, TN. Manufacturing leads in absolute credit, while services grew 19.6% YoY.

Improved Portfolio Quality: PAR 91–180 fell to ~1.4% (Sep’25) from 1.7% (Sep’23). Enterprises show better risk, but sole proprietors also improved. Very Low/Low Risk borrower share rose between Sep’23–Sep’25, aided by better underwriting and digital data.

Odisha – State in Focus

• Small Business Credit portfolio grew from ₹0.67 lakh crore (Sep’23) to ₹0.96 lakh crore (Sep’25), up 17.2% YoY vs. national 16.2%.

• Aspirational districts’ credit grew >22% YoY, outperforming state and national averages with better delinquency.

• Public Sector Banks dominate (>40% share), while NBFCs rapidly expand in under-penetrated areas.

• Risk profile improving: Very Low Risk share rose from 40.1% (Sep’23) to 47.1% (Sep’25) for small enterprises, creating more lending opportunities for banks.

Sachin Seth, Chairman, CRIF High Mark and Regional Managing Director – CRIF India and South Asia said, “Sole proprietors continue to anchor India’s small business credit ecosystem, accounting for close to 80 percent of the borrower base as of September 2025. At the same time, borrowers with both individual and enterprise credit presence are contributing a steadily rising share of overall credit exposure, and this segment has recorded the strongest growth in exposure over the year. Together, these trends indicate that credit deepening and gradual formalisation are progressing in parallel as small businesses scale.”

About CRIF High Mark

CRIF High Mark is an RBI licensed credit bureau in India that commenced its bureau operations in March 2011. CRIF High Mark offers Credit Bureau Information and Identification and fraud prevention services. It is India's first full-service credit information company which provides comprehensive credit information for all borrower segments, namely Commercial, Consumer, and Microfinance borrowers. With the databases of individuals and businesses from over 5,000 financial institutions CRIF High Mark provides credit information services and supports millions of lending decisions every month.

CRIF High Mark is part of CRIF S.p.A. a global company headquartered in Bologna, Italy. CRIF is a global company specializing in credit & business information systems, analytics, outsourcing and processing services, as well as advanced digital solutions for business development and open banking. Globally, CRIF operates in 37 countries with more than 10,500 financial institutions and over 600 insurance companies. CRIF's services are used by over 90,000 companies and more than 1,000,000+ consumers.

About SIDBI

Since its formation in 1990, SIDBI has been touching the lives of citizens across various strata of society through its integrated, innovative and inclusive approach for all round development of MSMEs. SIDBI has directly or indirectly through various credit and developmental measures impacted the  myriad Micro, Small and Medium Enterprises (MSMEs) in the country, whether they are traditional, domestic small entrepreneurs, bottom-of-the-pyramid entrepreneurs, or high-end knowledge-based entrepreneurs.

Link to the report: www.crifhighmark.com/media/5971/small-business-spotlight-report_digital.pdf

For more information, please visit:  https://www.sidbi.in/. 

Foundation for MSME Clusters Panipat Team
 

The event opened with remarks from Mr. Mukesh Gulati, Executive Director, FMC, who emphasised the urgency for MSMEs to align with global sustainability norms. “Sustainable fashion presents a Rs. 9-lakh-crore opportunity in the coming years, an opportunity that Panipat can easily tap into because of its immense potential. To build a collaborative ecosystem, we need strong linkages, partnerships, and cooperation from Panipat’s MSMEs so we can support each other. These projects are essential because sustainable fashion will soon become the norm. Understanding the CO₂ emissions of each garment and establishing traceability mechanisms will be critical. The European Union’s Green Deal is both a challenge and a tremendous opportunity. Our early preparedness will determine how strongly our MSMEs can compete in global markets.”
 

Ms. Harshitha Venati, Senior Impact Programme Manager, (GFA) provided a recap of Workshop #1, covering Ecodesign for Sustainable Products Regulation (ESPR) and Digital Product Passports (DPPs). She then followed with an insightful presentation on the EU Waste Shipment Regulation (WSR) and its potential implications for India’s textile exporters.
 

“Panipat has to ensure that there is traceability and visibility in their business processes and procurement to build trust with their EU partners,” she noted.

Mr. Bishesh Rajput (FMC) facilitated the workshop activity and led an open discussion where MSMEs expressed interest in more hands-on, cluster-specific sessions and smaller, focused group workshops.

Rajat Batra, Chief Executive Officer of Stenum Asia, delivered an insightful introduction to Resource Efficiency Solutions for Sustainable Production, highlighting practical approaches that MSMEs can adopt to enhance environmental performance and operational efficiency.

The formal closing remarks were delivered by Mr. Vinod Dhamija, President, Haryana Chamber of Commerce & Industries, Panipat, who highlighted the importance of proactive compliance. “Emerging EU regulations are reshaping global trade. Panipat’s MSMEs must prepare collectively to safeguard and strengthen their export competitiveness, by following the compliance and the chemical which is going banned is good for us and our future generation too,” he stated.

Dignitaries who attended the workshop included:

• Mr. Anil Mittal, Secretary, Haryana Carpet Manufacturers Association

• Parvinder kadiyan, Chairman, GATS Association

Their presence underscored the shared commitment of industry leaders to guiding MSMEs through sustainability-driven market transitions. The event concluded with a vote of thanks by Mr. Abhishek Naga (FMC), DGM, FMC who appreciated the active participation and reaffirmed FMC’s commitment to supporting the textile ecosystem on its sustainability and compliance journey.

The Green Threads Project, supported by the EU SWITCH-Asia Programme, aims to accelerate the transition of India’s textile and apparel sector toward more sustainable, circular, and resource-efficient production practices. As global markets - especially the European Union - tighten sustainability regulations, MSMEs face rising pressure to demonstrate compliance, transparency, and environmental responsibility across their supply chains.
 

The project focuses on capacity building, policy dialogue, awareness creation, and technical support for MSMEs to help them:

• Understand upcoming EU regulations such as ESPR, DPPs, and WSR

• Improve circularity practices, waste management, and product design

• Strengthen competitiveness in global markets

• Build long-term resilience through sustainable business models
  ​

The Foundation for MSME Clusters (FMC) is implementing the project in India to ensure that MSME clusters - especially in textile hubs like Panipat and Amroha - are not left behind in the global shift toward greener manufacturing. FMC’s involvement reflects its long-standing commitment to helping MSMEs adopt better practices, access new opportunities, and remain globally competitive.

About FMC
Foundation for MSME Clusters (FMC), a leading non-governmental, not-for-profit public charitable trust, established in India in 2005. FMC has made remarkable strides in fostering sustainable livelihoods and environmental progress through our innovative cluster development approach. Our work spans more than 300 MSME clusters, supporting over 100,000 artisanal and industrial units, ranging from household operations to medium-sized production entities. As an empanelled Nodal Agency with the Ministries of MSMEs and Rural Development, FMC extends support to prominent schemes like SFURTI, and is also providing technical, research, and evaluation support to various organizations such as SIDBI & KVIC. FMC has implemented multiple projects on environment and livelihoods with support from agencies like NABARD, UNIDO, UNDP, EU, ADB, and major corporates such as Cisco, Mahindra Finance, HCL, Yes Bank, and Hindalco.

For more information, please visit website fmc.org.in.

Tide, the UK’s leading business management platform, today announced that it has surpassed 1 million members (MSMEs) in India. This rapid growth reflects the deep trust that Indian small businesses — from nano to micro and emerging SMEs — have placed in Tide to simplify how they register, run and grow their businesses. The platform has doubled adoption since its launch in December 2022. India has emerged as Tide’s largest and fastest-growing market globally in member acquisition, showcasing the success of its India-first strategy and strong product-market fit.

Gurjodhpal Singh, CEO, Tide in India, said, “This milestone is more than a number — it’s a story of trust. In just under three years, one million Indian entrepreneurs have chosen Tide to be their partner in growth. This reflects our commitment to helping small businesses – who have been gravely underserved – save time and money by giving them business critical tools across finance, admin and related commercial services that they need, to grow. India is where some of Tide's most innovative products are being developed, creating strong use-cases to be implemented globally.”

A trusted business partner for India’s entrepreneurs

Tide’s success has always been rooted in scaling responsibly and delivering real-world impact. The company is doing so by building a unified, highly-connected digital platform that reduces the burden of business finance and admin. Over the past year, Tide has delivered product innovation at pace across India with products including:

Bill Payments: SMEs in India can pay their utility bills with no extra costs and earn rewards. The product is backed by enhanced security.

Udyam Registration: Enabling MSME registration and access to priority government benefits including low-interest loans, subsidies on electricity certifications, protection against delayed payments, etc.

GST Registration: help obtain a Goods & Services Tax Identification Number (GSTIN), enabling compliance, marketplace selling, input tax credit claims, and vendor trust.

Scheme Discovery: Smart matching of government benefits and subsidies to business eligibility.

Fixed Deposits Intermediation: Helping SMEs to earn competitive returns on their balances in a seamless and paperless experience.

NCMC Card Integration: A single smart Tide card that doubles up as a national mobility card, accepted across multiple transport modes.

Structured partners: Provides disbursement of funds to freelancers and vendors via a secure partner portal. Analytics on spending deliver real-time data so SMEs can make faster decisions about cashflow, a key pain point for SMEs.

Tide’s member make-up

Tide’s growth in India is being driven by a new generation of business owners, with over 85% (865,000) of its members under the age of 40, including 58% Gen Z and 42% millennials—reflecting the strong entrepreneurial momentum among India’s youth. And, with our oldest member at 95, simply proves that it’s never too late to do what you love.

The platform is scaling rapidly across emerging business hubs, with 63% of its members from states such as Uttar Pradesh, West Bengal, Madhya Pradesh, Bihar and Maharashtra, and a majority comprising small and micro entrepreneurs like local retailers, freelancers and service-led solopreneurs. With strong adoption in Tier 2, 3, 4 and beyond towns namely Bareilly, Bhopal, Murshidabad, Lucknow, North 24 Paraganas, Jaipur, Firozabad, Ghaziabad, Shahjahanpur and Kota — with not a single Tier 1 city in the top 10 — Tide is playing a significant role in enabling the digital transformation of India’s most underserved business communities.

Championing entrepreneurs beyond business tools

Tide believes progress happens when entrepreneurs are supported not only with products — but with recognition, access and ecosystem change.

Women in Business mission: On track to bring 500,000 women entrepreneurs onto the platform by 2027. Tide’s Bharat Women Aspiration Index brings forth voices from beyond metros to shape better policies for women entrepreneurs across Tier 2, 3, 4, 5 and 6 towns in India.

Udaan Chronicles: Tide’s flagship mentoring roadshow, created to help small business owners in semi-urban and rural India, brings expert-led mentoring directly to entrepreneurs who lack access to formal networks and financial resources.

UK-India collaboration: Enabling SME expansion across borders through industry delegation. Contributing to critical dialogue shaping future trade for small businesses under the provisions of the UK-India FTA.

Tide’s progress in India is rooted in accountability and global investor backing. The company recently secured a $120 million strategic investment, in a funding round led by TPG. Tide is also deepening its long-term commitment to India — with a £500 million investment over the next five years, starting 2026. This investment underscores India’s role as a cornerstone of Tide’s global growth strategy, which will be used to fuel product innovation tailored for Indian SMEs, technology and AI-led development and expansion of Tide’s financial ecosystem — including payments, credit, and investment solutions.

Tide’s strategy in India emphasises digital inclusion — to bring formal financial and business services to underserved entrepreneurs outside major metros, in smaller towns and rural clusters. This approach aligns with the Government of India’s efforts to formalise and digitise MSMEs and increase their access to credit, markets and exports.

Among some of the exciting new features to be launched next year, include investments, acquiring, insurance, easy access to formal credit, banking services and advanced payment acceptance solutions. Tide is here to make managing business smoother and more successful.

About Tide

Launched in 2017, Tide is the leading business management platform in the UK. Tide helps SMEs save time (and money) in the running of their businesses by not only offering business accounts and related admin services, but also a comprehensive set of highly usable and connected administrative solutions from invoicing to accounting.

Tide has nearly 800,000 SME members in the UK (14% market share) and 1,000,000 SMEs in India. Tide launched in Germany in May 2024 and in France in September 2025. Tide has also been recognised with the Great Place to Work certification three years in a row. Tide has been funded by Anthemis, Apax Digital Funds, Augmentum Fintech, Creandum, Salica Investments, Latitude, LocalGlobe, SBI Group, Speedinvest and TPG, amongst others. It employs more than 2,500 Tideans worldwide. Tide’s long-term ambition is to be the leading business management platform globally.

LinkedIn: www.linkedin.com/company/tide-banking

Twitter: twitter.com/TideBusinessIND

Instagram: www.instagram.com/tidebusinessindia/

Facebook: www.facebook.com/TideBusinessIndia

At Paisabazaar's stores, trained experts would provide consumers with expert advice and curated recommendations on a wide range of financial aspects

At these stores, trained experts would provide consumers with expert advice, curated recommendations according to need and profile, and documentation assistance along with complete guidance on a range of financial aspects.

Santosh Agarwal, CEO of Paisabazaar, said, “For self-employed consumers and small business owners, access to credit and other financial products  has traditionally been challenging and complex. We, at Paisabazaar, are aiming to address this challenge through our phygital model to empower small businesses. This initiative is in line with our brand purpose - Har Sapna Hoga Sach - helping every Indian make smart financial decisions.”

The primary focus of these stores is on small business owners and shopkeepers, assisting them through every step related to their business and credit needs. Along with the FST and Udyam services, consumers can walk in and also explore various credit options, such as business loans, personal loans, home loans, etc., at these stores and get end-to-end assistance in choosing the right option for their credit requirements.

In addition to these services, consumers visiting Paisabazaar retail stores can check their free credit score and explore the best available loan and credit offers. Trained experts also assist them in understanding their credit profile, improving their credit health, and making better financial decisions.

Currently, Paisabazaar retail stores are operational in Gurugram (Jail Road), Noida (Sector 15) and New Delhi (Lajpat Nagar), where consumers can avail Udyam, Aadhaar and GST registration, along with expert assistance for GST filing.

The company plans to expand its retail presence to Tier-2 and Tier-3 cities, where credit demand is growing rapidly. The number of these stores will be further increased as the initiative continues to deliver positive outcomes.

About Paisabazaar

Paisabazaar, a part of PB Fintech (listed since 2021), is India’s largest marketplace for consumer credit and free credit score. Over the last 11 years, Paisabazaar has earned the trust of over 55 million consumers. Paisabazaar has built 65+ partnerships withBanks, NBFCs, and fintechs to  offer a broad range of credit products. Paisabazaar is ISO (27001:2013) and PCI DSS certified organisation, with industry-best controls, to safeguard the best interest of consumers.

Left to right - Anshuman Agarwal (Co-Founder & COO), Rajul Jain (Co-Founder & CEO), and Vishal Raj (Co-Founder & CTO)

Increff has already partnered with Arvind, Blackberrys Menswear, Agilitas, Calvin Klein, Tommy Hilfiger, U.S. Polo, NNNow, Mega Mart and several other leading brands for Grid launch.

Their early commitment reflects strong industry confidence in Grid’s next-generation hyperlocal fulfilment model and its potential to set new benchmarks in speed, efficiency, and customer delight.

Driving Hyperlocal Efficiency

Increff is introducing Increff Grid, a unified, tech-enabled fulfilment network that will scale to 50+ Increff-operated dark stores across 15+ cities in the coming months, offering real-time inventory visibility across all sales channels—online and offline. With its zero-CapEx model, Increff Grid enables brands to rapidly scale hyperlocal delivery capabilities without investing in infrastructure.

Key operational advantages include:

• 2–24 hour delivery across tier-1 and tier-2 cities for marketplace and D2C orders, offline store replenishment, and quick-commerce dark store refills.

• Up to 30% reduction in logistics costs through optimised delivery density and smart routing.

• Intelligent inventory placement, recommending the right products for each location and the optimal dark store to stock them in based on local demand signals.

• Ready integrations with major marketplaces (Amazon, Flipkart, Myntra), ERP systems (SAP, Oracle, Logic ERP), and webshops (Shopify, Magento) for fast go-live.

• Single-partner accountability, with Increff operating the entire network end-to-end—including store management, fulfilment operations, and 3PL last-mile integrations—eliminating the need to coordinate multiple vendors.

Smarter Returns & Real-Time Visibility

With Increff Grid, brands can significantly reduce return rates by delivering orders within 2–24 hours, fulfilling customer needs instantly. Grid incorporates intelligent returns management features, including video validation, barcode tracking, and automated reconciliation help brands reduce logistics-linked losses.

Industry Context

With last-mile delivery accounting for over 50% of logistics costs and India’s quick commerce segment growing at 45% annually, brands are increasingly prioritising efficient micro-fulfilment capabilities. Increff Grid addresses this shift by enabling intelligent, demand-driven inventory placement, recommending the right products for each catchment and the optimal dark store to stock them in.

“Quick commerce is reshaping how customers expect to shop. We founded Increff with a simple vision — Quick supply chain for All Commerce — helping brands fulfill all types of orders, whether e-commerce or store/warehouse replenishments, with speed and accuracy. With Grid, that vision is coming to life, enabling 2–24 hour fulfilment through smart, automated inventory management,” said Rajul Jain, CEO & Co-Founder, Increff.

About Increff

Increff helps brands and retailers optimise inventory and accelerate sales velocity by 2–3x through its Smart Merchandising and Multichannel Fulfilment platforms and services built to drive retail growth and maximise profitability.

Backed by Sequoia, 021 Capital, Premji Invest, TVS Capital Funds, Binny Bansal and others, Increff addresses complex retailing challenges for leading global brands.

Operating in 35+ countries and empowering 700+ global brands, Increff is trusted by partners including Reliance Retail, adidas, Puma, Tommy Hilfiger, DHL, Crocs, Birkenstock, Onitsuka Tiger, ABFRL, Arvind, Landmark Group, Raymond, Meesho, Myntra, Libas, Mensa, Giva, Wrogn, TIGC, Campus Sutra, Taneira, Fab India, EKART, Calvin Klein, Repro Brands, and many more.

Website: www.increff.com

Fibe’s NBFC arm, EarlySalary Pvt. Ltd, has achieved an improvement in its credit ratings by three top rating agencies, reaffirming the company’s robust underwriting and risk management framework, operational resilience, and commitment to strong governance standards.

Acuité Ratings has assigned Fibe a long-term rating of ‘A’ with a Stable outlook. This reflects Fibe’s resilient business model and management’s focus on responsible growth and asset quality. On the other hand, India Ratings has upgraded Fibe’s long-term rating to A- with a Positive outlook whereas CARE Ratings has revised Fibe’s short-term rating from A2 (Stable) to A2+, recognising enhanced liquidity, diversified funding sources, and timely debt servicing.

Founded in 2015, the company recently marked its 10th year milestone. Fibe has significantly evolved over the years from a consumer lending platform to a full stack financial services platform. The company has diversified its portfolio and has a strong presence across impact lending sectors such as healthcare and education financing in addition to personal loans. 

Fibe caters to the growing aspirations of young and tech-savvy Indians and continues to build India’s most extensive digital-first consumer lending infrastructure focused on financial inclusion, accessibility, and impact. The company has expanded its footprint, having served over 37 lakh customers till date with presence in 930 cities in India.

Mr. Ashish Goyal, Managing Director of Fibe’s NBFC (EarlySalary Services Pvt Ltd) said, “The multi-agency rating upgrade reflects the strength and stability of our business model. It is a testament to the trust and confidence of our customers, partners and investors. Robust risk management has always been paramount to us at Fibe and as we enter the next decade of growth, we remain committed to delivering tech-enabled financial access to our customers while maintaining the highest standards of transparency and asset quality.” 

About Fibe 

Fibe is one of India’s leading consumer lending apps focused on young, aspirational, and tech-savvy Indian consumers. Fibe has grown multifold over the years and emerged as a market leader in providing financial assistance to young middle-income and underserved groups to support them fulfil their aspirations. It offers a range of financial products including impact loans for sectors like healthcare and education and solar rooftop financing. Fibe’s financial solutions suite is focused on individuals who need credit that’s transparent, responsive, and easy to manage digitally.

Due to its scalable business model, It has access to debt lines from leading banks, NBFCs and wholesale debt markets. It has been certified with ISO/IEC 27001 for its Information Security Management System (ISMS). Fibe has disbursed more than 8 million+ loans worth Rs. 33,000 Cr+ since inception through its lending partners.

• Winner of BW Festival of Fintech Lending Platform of the Year (Gold) and Fintech Brand of the Year (Silver)

• ET Healthcare Awards 2024 & 2025 - Excellence in Affordable Healthcare Financing

• Entrepreneur 2024 Founder of The Year & Best Innovation in Financial Services

• Winner of G20 Digital Innovation Alliance – Best Startup in Fintech 

Dr. Bina Modi Felicitated with Woman Icon of the Year Award by Mr Piyush Goyal, Hon’ble Minister for Commerce and Industry, Government of India, at the 9th Business Leadership Awards of IACC

It recognises Dr. Modi as a leader who shapes business outcomes along with elevating people, communities, and possibilities.

Mr Piyush Goyal, Hon’ble Minister for Commerce and Industry, Government of India, presented the Awards during the Inaugural Session of the 22^nd Indo-US Economic Summit on 18^th November 20025 at Hotel The Leela Palace, Chanakyapuri, New Delhi by gracing the occasion as the chief guest.

The Indo-American Chamber of Commerce organized its flagship - 22^nd Indo-US Economic Summit, themed "Shaping a Shared Future: India-US Collaboration for Global Resilience".

This recognition adds another feather to Dr Bina Modi’s hat of being a responsible business leader with accolades like Women Empowerment in Leadership, Outstanding Businesswoman of the Year, Most Inspiring Woman in Business, and Women Transforming India among many others.

Dr. Modi’s leadership has always placed 𝗽𝗲𝗼𝗽𝗹𝗲 𝗮𝘁 𝘁𝗵𝗲 𝗵𝗲𝗮𝗿𝘁 𝗼𝗳 𝗽𝗿𝗼𝗴𝗿𝗲𝘀𝘀. This recognition is a tribute to her belief that when individuals are empowered, organisations thrive. She embodies:

• A visionary mindset grounded in clarity, compassion, and courage

• A commitment to Diversity, Equity & Inclusion

• A deep conviction in profit with purpose

• An ethical and sustainable approach that creates long-term value for all stakeholders

• A passion for initiatives that give back to communities, society, and the planet

Sumit Kumar, Founder, Headsup B2B

As part of the deployment, Rs. 5 crore will be channelled into exploring new opportunities in the B2B ecosystem, further reinforcing Headsup B2B’s leadership in infrastructure, construction, and green energy markets.

“This round of debt capital marks a crucial step in scaling Headsup B2B. With the support of our banking partners, we are poised to expand rapidly, innovate across product categories, and deliver greater value to our ecosystem,” said Sumit Kumar, Founder, Headsup B2B.

The company also confirmed it is in advanced discussions to raise an additional Rs. 14 crore in Q3 FY25–26, underscoring its ambitious growth trajectory.

With an expanding portfolio spanning steel, road safety, electricals, and renewable energy solutions, Headsup B2B continues to emerge as a disruptive force in B2B procurement—empowering contractors, suppliers, and enterprises with streamlined sourcing, financing, and delivery at scale.

Further, the company is preparing to pivot into Rapid Commerce (not quick commerce) in the home improvement and repair segment, beginning with a strategic focus on Delhi NCR.

About Headsup B2B
Founded in 2022, Headsup B2B is India’s first AI-powered B2B procurement and financing platform for the infrastructure and green energy sectors. Its proprietary CRM “Gati” and fast-growing marketplace have powered Rs. 200 crore in lifetime revenue in just over two years. The company works closely with EPC contractors, suppliers, and financial institutions to build a seamless ecosystem of procurement, credit, and supply-chain solutions-driving efficiency, scale, and profitability across India’s growth industries.

Experts from GFA, Reverse Resources & Green Story joined Foundation for MSME Clusters in Panipat for a session on the EU Green Deal under SWITCH-Asia’s Green Threads project

Opening the session, Mukesh Gulati, Executive Director of FMC, underscored the urgent need for Panipat’s exporters to align with international sustainability standards while reaffirming FMC’s commitment to guiding the city’s transformation into a global hub for circular textiles. He emphasized that FMC is not here merely as an outside expert, but as a long-term partner working hand in hand with Panipat’s industries to ensure sustained progress, with the goal of taking the cluster at least two steps higher than where it stands today.

Welcoming the dignitaries at the EU Workshop (Right to Left): Mr. Lalit Goel, President - Panipat Exporters Association; Mr. Sandeep Singh, AGM -SIDBI; and Mr. Sandeep Joshi, FMC

The urgency of these changes stems from the existing global textile crisis, where the fashion industry is responsible for nearly 10% of global carbon emissions, 20% of wastewater pollution, and generates 92 million tonnes of textile waste annually. With fast fashion driving overconsumption, less than 1% of textiles worldwide are currently recycled back into new garments. In response, the European Union has introduced stricter sustainability and circularity rules to curb overproduction, demand traceability, and ensure garments entering the EU are durable, recyclable, and environmentally responsible. For Panipat, which recycles a major share of India’s textile waste and exports to global markets, these guidelines are not just regulatory hurdles but a critical opportunity to modernize and lead.

The workshop featured leading international voices driving fashion sustainability. Harshita from Global Fashion Agenda (GFA) shared insights on the EU textile strategy, covering new requirements for eco-design, durability, and the upcoming Digital Product Passport (DPP) that will soon be mandatory for apparel entering EU markets. Ina Bahungna from Reverse Resources presented traceability mechanisms that enable exporters to map textile waste flows and comply with the EU’s Extended Producer Responsibility (EPR) framework. Chinky Yadav from Green Story demonstrated the importance of Digital Product Passport (DPP) in tracing the product’s lifestyle, from its creation to manufacturing and distribution. The mechanism allows for maintaining how environmentally-sustainable the stages were like water usage, recycling, repair, etc. The DPP will have businessowners to make informed choices.

The Green Threads programme funded by the European Union under Switch Asia Programme is delivered by a strong consortium of global and national partners: Foundation for MSME Clusters (FMC) as the implementing partner in Panipat; Copenhagen Business School (CBS) leading academic research on sustainability branding and traceability; the Small Industries Development Bank of India (SIDBI) enabling green financing for MSMEs; Global Fashion Agenda (GFA) advancing policy and industry engagement; Reverse Resources providing cutting-edge traceability technology.

Together, the consortium aims to establish Panipat as a global sustainable textile hub, introduce the Digital Product Passport for greater transparency, enhance MSME skills and technology for resource efficiency, and expand access to green financing through equity, lending, and grants.

The workshop drew strong participation from Panipat’s exporters, HR leaders, and compliance managers, who gained clarity on upcoming EU mandates, carbon tax implications, and opportunities for green financing. With Green Threads, funded by the European Union under its SWITCH-Asia programme, Foundation for MSME Clusters and its consortium partners CBS, SIDBI, GFA, Reverse Resources, and Green Story are ensuring that Panipat is not left behind in the global shift toward sustainable textiles, but instead emerges as a leader in circular fashion, strengthening India’s position in the international market.

About FMC

Foundation for MSME Clusters (FMC), a leading non-governmental, not-for-profit public charitable trust, established in India in 2005. FMC has made remarkable strides in fostering sustainable livelihoods and environmental progress through our innovative cluster development approach. Our work spans more than 300 MSME clusters, supporting over 100,000 artisanal and industrial units, ranging from household operations to medium-sized production entities. As an empanelled Nodal Agency with the Ministries of MSMEs and Rural Development, FMC extends support to prominent schemes like SFURTI, and is also providing technical, research, and evaluation support to various organizations such as SIDBI & KVIC. FMC has implemented multiple projects on environment and livelihoods with support from agencies like NABARD, UNIDO, UNDP, EU, ADB, and major corporates such as Cisco, Mahindra Finance, HCL, Yes Bank, and Hindalco.

Canara Bank's participation on the KredX DTX platform marks a pivotal step towards building a more robust, accessible, and inclusive supply chain finance ecosystem. As one of the oldest and largest public sector banks in India, Canara Bank brings a strong public sector presence and legacy to the partnership, with a robust network of branches across the country. By combining Canara Bank’s extensive reach and deep understanding of diverse business needs with KredX’s cutting-edge, technology-first infrastructure, this partnership will substantially enhance working capital access for Micro, Small, and Medium Enterprises (MSMEs) across all sectors and scales. This aligns seamlessly with the government's vision of increasing financial inclusion for businesses, empowering a wider array of enterprises to thrive.

Manish Kumar, Founder and CEO, KredX, stated, “We are thrilled to welcome Canara Bank as a financing partner on KredX’s technology-first TReDS platform, DTX. Canara Bank’s extensive presence, deep-rooted customer focus, commitment to financial inclusion, and increasingly, its embrace of digital innovation and diversification of services, make it an invaluable addition to our expanding ecosystem. This partnership is a significant step towards digitisation and democratising trade finance, enabling enterprise buyers and MSME partners to access crucial working capital, with Canara Bank's increased funding capacity driving nationwide financial inclusion.”

KredX’s DTX platform, approved under the RBI’s TReDS framework, offers a digital-first solution for end-to-end trade finance. Connected to 50+ financiers and designed to enable bidding on trade receivables, DTX provides businesses with access to the lowest cost of finance, an intuitive user experience, and seamless execution. DTX also enables suppliers to access working capital instantly, while allowing buyers to optimise cash flows and build more resilient supply chains. By integrating intelligent automation, real-time processing, and intuitive workflows, DTX ensures a frictionless experience for buyers, sellers, and financiers alike. The initiative aligns with the Government of India’s mandate for companies with a turnover exceeding Rs. 250 crore to onboard TReDS and integrate with the GSTN, promoting digital financing and regulatory compliance. This also supports KredX’s goal of achieving Rs. 15,000 crore in disbursals and empowering 15000 MSMEs by the end of this fiscal year.

As India’s leading integrated supply chain finance provider, KredX offers a comprehensive suite of solutions including early payments, accounts payable and receivable financing, and cash flow automation. These capabilities empower businesses to unlock working capital, drive operational efficiency, and maintain compliance across processes. KredX continues to expand its partner network of banks, NBFCs, and financial institutions to strengthen India’s digital supply chain infrastructure and improve access to capital across the ecosystem. In a significant move to further this mission, KredX is also engaging with State Governments to support MSMEs by raising awareness around TReDS and providing TReDS onboarding assistance. This strategic engagement will revolutionize MSME onboarding, reduce friction, improve data accuracy, and enable KredX to provide more tailored solutions to a wider base of MSMEs nationwide.

About KredX

KredX is India’s leading integrated supply chain finance platform, and among the very few entities licensed by both the Reserve Bank of India (RBI) and the International Financial Services Centres Authority (IFSCA). With this dual regulatory backing, KredX offers end-to-end working capital solutions across both domestic (TReDS) and cross-border (global factoring) transactions, serving MSME suppliers as well as large corporate anchors. Being a pioneer in supply chain financing for a decade, KredX has been enabling businesses to unlock working capital and optimise cash flows through a full stack of digital finance solutions for modern supply chains. With platforms like DTX (Domestic Trade Exchange), GTX (Global Trade Exchange), and CMS (AI-powered Cash Management Solutions). Backed by marquee investors including Tiger Global, Sequoia Capital India, and Prime Venture Partners, KredX is at the forefront of building future-ready, tech-led financial infrastructure for B2B supply chain ecosystems.

To know more, visit KredX’s Domestic Trade Exchange (DTX) site: www.dtxindia.in

About Canara Bank

Widely known for customer-centricity, Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka. The Bank has gone through the various phases of its growth trajectory over a hundred years of existence. Growth of Canara Bank was phenomenal, especially after nationalisation in the year 1969, attaining the status of a national-level player in terms of geographical reach and clientele segments. The Bank diversified its business operations throughout the 1980s. A significant achievement came in June 2006, when it celebrated 100 years of service within the Indian banking industry. Several memorable milestones have characterised the eventful journey of the Bank. Currently, Canara Bank is a leading institution among Indian banks. Over the years, the Bank has been scaling up its market position to emerge as a major Financial Conglomerate with as many as thirteen subsidiaries/sponsored institutions in India and abroad. As of September 2023, Canara Bank services over 11.19 crore customers through a network of 9,518 branches and 12,118 ATMs/Recyclers spread across all Indian states and Union Territories.

The MoU establishes a framework for understanding between MoMSME and KredX’s DTX, specifically concerning the secure and efficient sharing of Udyam registration data. The KredX DTX platform, an RBI-licensed TReDS platform, will leverage this partnership to further its mission of empowering MSMEs. Through a two-way API integration, the agreement facilitates real-time data updation and seamless onboarding of MSMEs onto the DTX platform. This reciprocal data exchange will significantly enrich the DTX database, allowing for data-backed updates and more efficient registration processes for MSMEs, thereby directly aiding KredX in providing effective supply chain financing solutions to a wider set of MSMEs.

This collaboration is a testament to KredX's commitment to leveraging technology for the benefit of Indian MSMEs, enabling faster access to financial services and fostering a more robust digital ecosystem. With direct integration with the Ministry's Udyam registration data, KredX will be able to reduce friction in the onboarding process, improve data accuracy, and provide more tailored solutions to a wider base of micro, small, and medium enterprises across the country.

Manish Kumar, Founder and CEO, KredX, said,"We are honoured to collaborate with the Ministry of MSME, Government of India, in this landmark initiative. This strategic step perfectly aligns with KredX's core goal to empower MSMEs by simplifying supply chain finance through seamless digitisation. Access to real-time Udyam registration data via this two-way API will revolutionise our onboarding process and how we serve these crucial businesses, enabling us to provide quicker, more efficient, and data-driven supply chain financing solutions. This will significantly aid us in reaching and supporting an even wider network of MSMEs nationwide, fostering their growth and contribution to the economy.”

As India’s leading integrated supply chain finance provider, KredX offers a comprehensive suite of solutions including early payments, accounts payable and receivable financing, and cash flow automation. These capabilities empower businesses to unlock working capital, drive operational efficiency, and maintain compliance across processes. It will continue to foster a robust financial ecosystem through strategic partnerships and collaborations to strengthen India’s digital supply chain infrastructure and drive inclusive economic growth.

About KredX

KredX is India’s leading integrated supply chain finance provider, enabling businesses to unlock working capital and optimise cash flows through a full stack of digital finance solutions for modern supply chains. With platforms like DTX (Domestic Trade Exchange), GTX (Global Trade Exchange), and CMS (AI-powered Cash Management Solutions), KredX has onboarded 3,000+ enterprises and enabled over 100,000 MSMEs to access timely working capital. The company has processed more than Rs. 550 billion in invoices. Backed by marquee investors including Tiger Global, Sequoia Capital India, and Prime Venture Partners, KredX is at the forefront of building future-ready, tech-led financial infrastructure for B2B supply chain ecosystems.

This marks the first time an Indian B2B startup is introducing such a service in Mexico, strengthening collaboration between Mexican importers and Indian exporters, and accelerating supply chain diversification for Mexican businesses.
 

Credlix announces the launch of its India–Mexico Connect service at the IndMex Chamber
 

The service was formally introduced at the IndMex Chamber event hosted by the Embassy of India in Mexico on Thursday, June 19, in the presence of H.E. Pankaj Sharma, Ambassador of India to Mexico. Organized by the Trade and Commerce Council of India and Mexico (IndMex), the event convened key stakeholders from business, trade, and diplomacy to foster stronger bilateral ties.
 

“With the launch of India Sourcing for Mexico, we are enabling a new chapter in India–LATAM trade,” said Rahul Garg, Founder & CEO of Moglix and Credlix. “As Mexico grows as a nearshoring hub and India expands its manufacturing base, this initiative bridges both supply and capital gaps, creating stronger global value chains.”
 

Ambassador Dr. Pankaj Sharma, along with Daniel Becker Feldman, CEO of Banca Mifel, emphasized the shift from diplomatic goodwill to concrete business outcomes. Dr. Sharma reiterated the growing momentum in bilateral cooperation and stressed the importance of enabling tangible economic engagement.
 

Becker Feldman highlighted Mexico’s untapped potential in digital finance, noting that “over half of Mexican transactions remain cash-based,” and praised India’s digital payments infrastructure as a model Banca Mifel already leverages.
 

Through India–Mexico Connect, Mexican buyers can access a wide range of industrial products—including automotive components, engineering goods, chemicals, bulk packaging, textiles, and electronics—from over 20,000 Indian suppliers in the Moglix network. Backed by Credlix’s invoice-based export financing, these imports are eligible for up to 90% working capital at the time of shipment, all without collateral.
 

The platform addresses long-standing challenges such as payment security, sourcing complexity, and limited access to trade finance. By integrating procurement and financing into a digital-first platform, it delivers a frictionless cross-border trade experience.
 

Aligned with global trends such as China+1 diversification, nearshoring, and Indo-Pacific economic cooperation, this initiative aims to rapidly grow the relatively smaller USD 11 billion trade between India and Mexico, which stands in sharp contrast to Mexico’s USD 120 billion trade with China. India–Mexico Connect positions India as a reliable sourcing partner and Credlix as the financial backbone of this evolving trade corridor.
 

Credlix
Credlix is a global supply chain financing platform that enables SMEs to access fast, collateral-free working capital. With operations across India, the United States, Mexico, and the UAE, Credlix helps businesses scale sustainably and thrive in global markets.

These partnerships will unlock new opportunities for Bidso to leverage its innovation and technical expertise in manufacturing toys and IP products, driving its vision to establish India as a global toy manufacturing hub. Kicking off their partnership with Hello Kitty, Bidso has already prototyped and developed iconic Hello Kitty scooters which will soon be available on Flipkart.

In line with the scope of the licensing partnerships, all IPs are under work and will be available in the market soon both on e-commerce and physical retail stores. While all Hasbro products will be sold exclusively through brands on Flipkart, the products being prepared for Hello Kitty and Chhota Bheem & Friends will be sold by brands on multiple platforms.

Vivek Singhal, Co-founder & CEO, Bidso

Vivek Singhal, Co-founder & CEO, Bidso said, “Signing multi-year partnerships with some of the most loved and globally renowned brands, which have such a passionate fanbase, is a gratifying milestone for us. The partnerships will be a reflection of our strong shared values, as these brands have a long history of stretching the boundaries of quality, innovation, and creativity. At the heart of all of our endeavors is the making of local products of international standard and quality that we can proudly boast and we look forward to further leverage that through these partnerships.”

The key market being catered to is the Indian market, where Bidso will be bringing to life locally made, world-class products that blend technological innovation with stringent quality certifications heralding a new era in Government's vision of ‘Atmanirbhar Bharat’. 

Further bolstering its growth momentum, Bidso recently secured fresh funding in a Pre-series A round led by Eternal capital, with participation from their existing investor Peer Capital, and other new investors namely Marshot Ventures, Atrium Ventures, and angel investors.

Saatchi & Saatchi is the creative partner and ideator behind the campaign’s concept and execution, capturing the grit that defines an Indian entrepreneur’s journey through this film.
 

Watch the film – www.youtube.com/watch?v=mIFM9Ywq0Ik
 

The TVC follows the lives of four small business owners across industries—a printing press operator expanding production, a Kirana shopkeeper upgrading his retail operations, a home-based achaar brand reaching wider markets, and a boutique owner growing her brand. As we follow their stories, struggles, and successes, we witness the sheer perseverance that defines the Indian entrepreneur.
 

The campaign gives us a glimpse into the importance of choosing the right financial partner to guarantee the success of an MSME. Whether it's upgrading a Kirana store, expanding a home-based achaar business, or elevating a boutique’s brand presence, the right partner makes all the difference. Entrepreneurial success in a dynamic and competitive landscape relies as much on funding as it does on human resilience and grit.
 

Malav Desai, Managing Director & CEO, Ratnaafin, said, "This campaign reflects our core belief – that with the right partner, even the boldest dreams are achievable. ‘Ratnaafin Hai Toh Possible Hai’ goes beyond transactional finance to celebrate the spirit of India’s business owners. At its core, this is about trust, support, and enabling the backbone of our economy – our MSMEs."
 

Sunay Jain, Head – Marketing and Digital Business at Ratnaafin, proudly added, "Businesses are more than balance sheets. At Ratnaafin, we look deeper—into the midnight oil burned, the risks taken, and the perseverance that MSME owners show every single day. While others may look at paperwork, we see passion. We believe your work speaks louder than your name. That’s the kind of business we back. Because when your kaam is strong, your name builds itself."
 

Ratnaafin is proud to be recognised as a CRISIL A+ rated, stable, and trusted NBFC with a strong foundation in financial discipline. Entrepreneurial resilience is the centrepiece of this campaign, reinforced by Ratnaafin’s unwavering support—not just as a lender, but as a true partner.
 

Running across digital platforms, social media, and regional television channels, the campaign showcases how every step, every challenge, and every decision is taken together—with confidence, courage, and cooperation.
 

This campaign, as Ratnaafin’s first foray into nationwide brand-building, marks a crucial milestone, with a poignant storyline that goes beyond numbers and touches hearts. It shows that business is more than balance sheets—it’s about showing up every day, being relentless in the face of hardship, and doing whatever it takes to make your dreams possible. That is what Indian entrepreneurs are made of, and that is what Ratnaafin acknowledges.
 

Rohit Malkani, CCO, Saatchi & Saatchi, said, “Jo pai pai se shuru kiya, wo business badhta jayega’ reflects the heart of the film. It’s a message from one business owner to another. It’s not about struggle or success. It’s about belief. Belief that if you keep building and showing up every day, what starts small will grow. That’s the feeling we wanted to leave people with.”
 

About Ratnaafin
Ratnaafin is an RBI-registered NBFC dedicated to empowering MSMEs, business owners, and entrepreneurs with accessible and customised financial solutions. The company has consistently bridged the credit gap by offering business loans, solar loans, supply chain finance, machinery loans, and more—helping enterprises scale, innovate, and thrive. Its deep understanding of India’s evolving business landscape makes Ratnaafin the perfect partner in an entrepreneur’s financial journey. A seamless digital interface, speedy approvals, and need-based products tailored to each client are just a few tools in its arsenal. With a strong commitment to fuelling the entrepreneurial fire of India, Ratnaafin uses its expertise and integrity to turn possibility into success.
 

About Saatchi & Saatchi India
Saatchi & Saatchi India, part of the Publicis Groupe India, is a full-service communications agency specializing in traditional and digital advertising, branding, design, UI/UX, content and brand consultancy. Saatchi & Saatchi offers its suite of services across clients like Hero MotoCorp, Renault, NIVEA, Standard Chartered Bank, ITC, Dabur, Akasa Air, Jockey, P&G, Zee, Zepto, ITC, Relaxo and many more. Core to the agency’s DNA is a culture of ownership and the belief that ‘Our Clients Business is Our Business’ which keeps clients’ business goals at the heart of everything. The agency has over 350 employees across its offices in Mumbai, Delhi, Kolkata, and Bengaluru.

These companies specialize in multiple verticals across the ecosystem such as accounts payable automation, distribution technology, spend management, corporate treasury management, supply chain finance management and SME financial enablement. They will now leverage PSBXchange’s infrastructure to offer real-time, multi-lender financing options directly within their platforms. This feat would normally take a lifetime to achieve by a single B2B SaaS platform, but by onboarding with PSBXchange, this not only increases the volume of transactions on these platforms but increases access to capital therefore contributing to the growth of the SCF ecosystem in the country. 

Anuj Jain, Head of Partnerships, PSBXchange, Veefin said, “PSBXchange is designed to democratize access to working capital by embedding financial services at the point of need. By embedding Supply Chain Financing workflows in B2B SaaS Platforms, ERPs, DMS, B2B Marketplaces, Treasury management Solutions, etc., we’re enabling corporates, dealers, distributors, and vendors to access capital faster and more transparently from various PSUs and Private Banks.”

Why These Platforms?
These companies serve a diverse base of corporates and brands through SaaS platforms that digitize and streamline critical B2B trade and payment workflows, including accounts payable, distributor management, treasury management and expense automation. By integrating with PSBXchange, they can now provide embedded SCF solutions to clients — all through a single API integration suite.

How the Partnership Works:
Via PSBXchange, these platforms can offer their customers access to a wide network of Public Sector Units (PSUs) and private lenders -- including banks and NBFCs - for invoice-based financing, dealer/vendor funding, and working capital credit lines. PSBXchange’s platform offers:

• Multi-lender onboarding and transaction APIs

• Real-time credit decisioning

• Single-window access to PSUs and Private Banks

• Increased capital accessibility, financing efficiency and compliance monitoring

This collaboration empowers platforms to be not just software enablers, but also financial enablers for the SME and mid-market ecosystem.

Founders and leaders from these platforms shared their thoughts on how this partnership will help boost financial access and support growth across the supply chain ecosystem.

CM Grover, MD and CEO, IBSFINtech 
At IBSFINtech, we’ve always believed the future of treasury lies in a connected ecosystem. Embedding Supply Chain Finance in our TreasuryTech business is a natural extension of our core product, augmenting it with innovative invoice-based financing and much more. Our partnership with PSBXchange marks a significant stride in this journey, expanding our reach and enabling our esteemed corporate clients and their channel partners to access a broad network of banks-all within our powerful treasury platform. This collaboration represents a major milestone in fostering a financially inclusive supply chain ecosystem for Bharat.

Mohammed Riaz, CEO and MD, Xtracap Fintech
"Our mission has always been to bridge the credit gap for small businesses through innovative, cash flow-based invoice financing. This partnership with PSBXchange significantly extends our reach and amplifies our impact by seamlessly connecting our MSME customers to a wide network of banks-all from within our platform. It’s a major step forward in building a financially inclusive and affordable supply chain ecosystem for Bharat.”

Raghavendra Pratap Singh, Co-founder, Metalbook
Metalbook’s partnership with PSBXchange is a game-changer for the metal industry — unlocking deep-tier financing from raw material suppliers to end consumers. By bringing affordable capital to every level of the supply chain, we’re solving one of the biggest challenges in this working capital-heavy ecosystem. Together with PSBs, Metalbook’s on-ground intelligence, full transaction visibility, and data-led insights will enable sharper credit decisions — collectively driving a more inclusive, efficient, and scalable financing ecosystem for the metal industry.

Nikhil Banerjee, Co-founder, Supermoney
For MSMEs to grow, access to real-time capital is no longer optional - it’s critical. By embedding PSBXchange’s robust SCF capabilities into Supermoney’s ecosystem, we’re giving our clients the power to unlock liquidity when and where they need it. This partnership with Veefin is set to be a gamechanger in the ecosystem that is being built around focusing on liquidity for MSMEs at scale and we’re expecting this contribution to grow multi-fold using the PSBXchange platform.

Tejas Sati, Keerthan Shetty and Nachiket, Co-founders, Avysh
"At Avysh, we digitise channel commerce to make the channel ecosystem truly ready for digital commerce era in the FMCD verticals. With PSBXchange, we are now taking the next big leap by integrating financing directly into channel commerce workflows - removing friction for channel partners and brands and enabling faster commerce across the ecosystem."

Ritesh Agarwal, Founder and CEO, Invoyz
Invoyz has always believed in making invoice financing simple, fast, and transparent. Through PSBXchange, we are giving our Anchor and SME users instant access to a marketplace of lenders, right from the Invoyz platform. This embedded finance partnership transforms Invoyz into a true financial enabler for anchors and distributors.

Dhruv Suri, Founder, Deleverage Technologies
Deleverage's core mission is addressing the credit gap faced by MSMEs through innovative invoice financing solutions. Our collaboration with PSBXchange enhances our reach and effectiveness by seamlessly integrating access to an extensive banking network for our users. This represents a substantial advancement in establishing a financially inclusive supply chain ecosystem for Bharat.

About PSB Alliance
PSB Alliance, a company setup by all Public Sector Banks of India, is dedicated to delivering integrated, technology-enabled financial services across India. The alliance focuses on delivering integrated, technology-driven banking services nationwide, aiming to enhance the efficiency and reach of banking operations.

For more details, psballiance.com

About Veefin Group
The Veefin Group of Companies is on a mission to become the Global No.1 Working Capital Technology Platform. Veefin Group addresses every aspect of optimizing Working Capital, by offering solutions across end-to-end digital Supply Chain Finance, Digital identity verification and automated financial statement analysis, debt securitization, cash management, trade finance, automated Accounts Receivable (AR) & Accounts Payable (AP) and software consulting and services by deploying innovative, agile & scalable technology, Artificial Intelligence (AI), Machine Learning (ML), and Natural Language Processing (NLP) to deploy software consulting, creative and media solutions, MarTech capabilities, trade finance, cash management, and automated receivables. Veefin Group also builds white-labeled Supply Chain Finance and Digital Lending solutions including end-to-end Lending Stack, Smart Credit Decisioning, Business Intelligence, Analytics and Omni-channel Onboarding for Banks, Financial Institutions, Fintechs, B2B marketplaces, and Corporates. Part of the Veefin Group of companies, Veefin Solutions Ltd. the parent Company is listed on BSE SME.

Incorporated in 2020, Veefin is headquartered in Mumbai with offices in Dhaka (Bangladesh) & Ahmedabad.

For more details, visit Website | LinkedIn | Facebook | Twitter.

8th FMC awards for responsible BMO's

"The FMC Award for Responsible BMOs recognizes the critical role of Business Membership Organizations in driving sustainable and inclusive growth. By promoting best practices in environmental stewardship, social impact, and governance, these awards encourage BMOs to be catalysts for transformation in the MSME sector. We are proud to honor organizations that exemplify leadership in responsible business, paving the way for a more resilient and sustainable future," Amit Pande, Chief Operating Officer, FMC

This year, more than 130 BMOs, representing 40,000 MSMEs, applied for the prestigious awards, which aim to widely circulate Responsible Business Promotion Case Studies to textile and apparel MSMEs and related stakeholders.

The Hon’ble Minister of State for Textiles, Mr. Pabitra Margherita honoured the event as Chief Guest.

Haryana Environmental Management Society (HEMS), a registered society established in 2004 won award in the category of “Promoting Green Environment” at National/State/Regional level. Representing 4,550 industrial units across Haryana, HEMS has played a pivotal role in promoting environmental awareness, sustainable waste management, and eco-conscious industrial practices. Its initiatives include membership drives, environmental education programs, health check-ups, blood donation camps, and school competitions on sustainability. Recognizing the growing challenges of industrial hazardous waste management, HEMS established a Common Treatment, Storage, and Disposal Facility (TSDF) in Village Pali, District Faridabad, offering centralized solutions for safe and eco-friendly hazardous waste disposal. This initiative has minimized waste, enhanced regulatory compliance, improved resource efficiency, and strengthened health and safety measures for thousands of industries in Haryana.

Indian Textile Accessories and Machinery Manufacturers Association (ITAMMA) won the award for “Promoting Social Issues” in National/State/Regional level category. ITAMMA was established in 1943 in Maharashtra and represents 405 enterprises. The B.K. Mehta Technology Networking Mission – 2030 aims to revolutionize textile engineering by fostering innovation and student-driven solutions. Launched in Mumbai, with sessions in Coimbatore and Ahmedabad, it promotes industry-academia collaboration, commercialization of projects, funding opportunities, and employment generation, driving India's leadership in textile technology.

District/Cluster Level Award for “Promoting Green Environment” was given to Jayadev Banana Farmers and Artisans Association” for “Banana Fibre and Bio-Fertiliser – Reduce Usage of Synthetic Yarn and Chemical Fertilizer”

District/Cluster Level Award for “Promoting Social Issues” was given to Nitya Sangha Mahila SHG Cooperative Society for “Bank Loan to SHG – Leading to Women Empowerment”

Upcoming Textile Recycling Initiative with Switch Asia EU

The Foundation for MSME Clusters, with support of Switch Asia - European Union, is paving the way for a more sustainable, resource-efficient, and environmentally responsible future for India's MSME sector. The initiative is launched with focus on advancing sustainability in India's textile recycling clusters.

India processes 2 million tons of textile waste annually, with Panipat, Bhojpur, and Amroha handling 60% of this waste and exporting 33% of recycled products to Europe, USA, and the UK. The project aims to transform Panipat into a global hub for sustainable textiles, ensuring transparency in waste management through a Digital Product Passport to track textile waste flows and prevent greenwashing. Additionally, it will focus on technology upgrades for sustainable production, skill enhancement, and green financing solutions, benefiting 14,800 MSMEs and 250,000 workers.

FMC is also implementing another project in Panipat with support from HSBC on decarbonisation and to promote green business models on traceability and resource efficiency for increased profitability in textile recycling MSMEs with support from Danish Ministry of Foreign Affairs.

About FMC

Foundation for MSME Clusters (FMC) is a leading non-governmental, not-for-profit public charitable trust, established in India in 2005. FMC has made remarkable strides in fostering sustainable livelihoods and environmental progress through our innovative cluster development approach. Our work spans more than 300 MSME clusters, supporting over 100,000 artisanal and industrial units, ranging from household operations to medium-sized production entities. As an empanelled Nodal Agency with the Ministries of MSME and Rural Development, FMC extends support to prominent schemes like SFURTI, and is also providing technical, research and evaluation support to various organizations including SIDBI & KVIC. FMC has implemented multiple projects on environment and livelihoods with support of agencies like NABARD, UNIDO, UNDP, EU, ADB, and major corporates such as CISCO, Mahindra Finance, HCL, Yes Bank and Hindalco. Since its inception, FMC has enhanced more than 275,000 livelihoods, impacted more than 100,000 women by generating income of more than 75 Crore INR and facilitated reduction of 60,000 ton of carbon.

For more information, please visit fmc.org.in.

Flipkart, India's homegrown e-commerce marketplace, is enabling small businesses, rural entrepreneurs, and women-led enterprises to thrive in the digital economy through dedicated interventions. It has hosted numerous training, capacity-building and onboarding workshops in particular enabling sellers, entrepreneurs from marginalized sections, areas where in digital literacy, ecommerce awareness has been lacking to ensure through market across & linkages leading to livelihood generation. Flipkart has collaborated with various government bodies, North Eastern Handloom, Handicrafts Development Corporation, National Rural Livelihood Mission, One District One Product initiative, also as partners of Government of Uttar Pradesh participated at the Maha Kumbh Mela 2025, to educate, orient, sellers under the One District One Product initiative and conducted training sessions for rural entrepreneurs.

Exhibition booth at Prayag Maha Kumbh 2025 showcasing Flipkart and One District One Product’s (ODOP) collaboration

In 2024 alone, Flipkart has conducted over 40 workshops across India covering rural belts supporting over 1500 rural women entrepreneurs, self help groups and micro, small entrepreneurs, sellers across India. Through strategic collaborations with NSDC, DPIIT, and the National Rural Livelihood Mission (NRLM), Flipkart has hosted orientation and training programs across India, in Jammu Kashmir, West Bengal, Assam, Tamil Nadu, Madhya Pradesh, Uttar Pradesh, Haryana, Goa and more. These further equip rural women, artisans, and micro-entrepreneurs with digital skills and marketplace access. By leveraging technology, partnerships, and financial inclusion, Flipkart continues to fuel the growth of India’s MSME ecosystem, fostering self-reliance and economic empowerment at scale.

Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, said, “Flipkart remains committed to strengthening India’s e-commerce ecosystem, enabling millions of MSMEs, entrepreneurs, and SGHs to scale through technology, innovation, and a robust marketplace. Through our PAN-India workshops, we are enabling small businesses and entrepreneurs to thrive, driving self-reliance and inclusive growth. As we innovate constantly, we continue to explore new ways to leverage e-commerce to uplift and empower all sections of society, ensuring MSMEs play a key role in India's journey towards a leading economy.”

The company is committed to driving MSME growth through technology-driven solutions, financial inclusion, and digital empowerment. Programs like Flipkart Samarth enable artisans, small businesses, and rural entrepreneurs to scale, while Flipkart’s commitment to ‘Made in India’ products strengthens local industries. The Flipkart Samarth initiative, launched in 2019, has positively impacted over 1.8 million livelihoods across 28 states & union territories in India, preserving over 100 traditional art forms and fostering growth among thousands of sellers. The program has expanded its seller base by 300%. By leveraging AI, supply chain innovation, and deep marketplace insights to help MSMEs grow, Flipkart is driving inclusive economic growth and shaping the future of India’s digital commerce landscape. 

Unlock growth with Debt-Based Funding Solutions from Syndicate Finance

Debt financing remains a crucial and economical means for businesses to raise capital, providing external funding through loans, overdrafts, mortgages, and equipment leases. Syndicate Finance goes beyond conventional financing by offering structured and well-facilitated debt solutions that align with clients’ strategic goals.

Comprehensive Debt-Based Solutions Offered by Syndicate Finance:

• Project Funding

• Working Capital

• Business & Corporate Loans

• Expansion Funding (including capacity expansion)

• Real Estate Project Funding

• Start-Up & SME/MSME Funding

• Educational Institute Structured Loans

• Technology Development Funding

• Hospitality & Hotel Project Funding

• Automobile Manufacturing Loans

• Retail & Wholesale Dealership Loans

• Business Rehabilitation & NPA Loan Solutions

• Healthcare & Hospital Funding

• Long-Term Infrastructure Finance

“At Syndicate Finance, we are committed to fueling ambitious projects and businesses with customized funding solutions,” said Nirav Dave, Founder at Syndicate Finance. “Our goal is to empower businesses with tailored financial solutions that enhance their financial agility and drive sustained growth.”

The company’s specialized working capital solutions ensure smooth daily operations, while Industrial Rehabilitation and Turnaround Finance options are available for businesses facing financial distress or operational challenges. Syndicate Finance's mission is to provide financial strategies that support long-term success and stability.

For more information, visit syndicatefinance.in

Contact our registered office at:
428, Rawal Bldg. No.1, 1st Floor, Opp. IndusInd Bank, D.B. Marg (Lamington Rd.), Mumbai-400 004.
Telephone: 022 23880634 / 23863781
Email: info@syndicatefinance.in

India’s rapid urbanization is creating significant challenges, from infrastructure gaps, increase in pollution levels to rising affordable housing demands and the growing effects of climate change. By 2036, urban areas are expected to contribute 75% to the country’s GDP, highlighting the need for effective solutions. In its new report, ‘Reviving Ancient Wisdom: Lessons from the Indus Valley Civilization for Modern Urban Planning in India’, Primus Partners looks back at the urban planning practices of the Indus Valley Civilization (IVC) to address these modern-day town planning and infrastructure development issues.

The IVC cities, like Harappa and Mohenjo-Daro utilized grid-based for planning of layouts, advanced water management systems, multi-functional public spaces and climate-conscious building practices. These strategies could help solve current urban challenges, and the report recommends integrating them into today’s urban planning. The authors urge a shift in policy to create more sustainable and liveable urban spaces, inspired by these time-tested methods.

Key insights of the report include:

1. Historical Urban Planning: The Indus Valley Civilization (IVC) featured cities like Mohenjo-Daro and Harappa, which were organized into grid layouts covering approximately 3.5 km², housing tens of thousands of residents, demonstrating effective urban planning and management.

2. Water Management Systems: The IVC had advanced water management systems, with a significant number of common wells for each cluster of houses while connecting each house with underground drainage network channelling drainage to trunk network, emphasizing the need for modern infrastructure to meet Sustainable Development Goal (SDG) 6, which aims for universal access to clean water and sanitation.

3. Standardization in Development: Implementing standardized benchmarks can improve urban governance; for instance, cities with clear regulatory frameworks have shown a 30% increase in compliance with urban planning standards.

4. Climate Resilience: According to the Global Climate Risk Index, India ranks 7th among countries most affected by climate change, underscoring the urgency for cities to adopt climate-resilient strategies to mitigate risks.

5. Lessons for Future Growth: With India's urban population projected to reach 600 million by 2036, effective urban planning inspired by the IVC could help manage this growth sustainably, potentially reducing urban sprawl by 25% through integrated planning approaches.

Despite India’s urban growth, its cities still face major hurdles. No Indian city ranks in the top 100 of the Global Liveability Index, and even Bangalore, India’s top city, scored only 66.7 on the Ease of Living Index developed by Ministry of Housing and Urban Affairs, emphasises the need to revisit how we plan, develop and manage our cities. The IVC’s approach—focusing on planned layouts, sustainability, advanced infrastructure, climate resiliency and public spaces—offers valuable lessons for overcoming today’s challenges.

Practical recommendations from the IVC include adopting well planned layouts for better traffic flow, upgrading sewer systems for improved sanitation, increasing green spaces to enhance quality of life, and using climate-appropriate approaches and materials to reduce energy consumption. These strategies can help cities become more resilient and prepared for future needs.

Aarti Harbhajanka, Co-author of the study, emphasized, "To truly move forward, we need to take a moment and look back. The urban planning practices of the Indus Valley Civilization offer insights that are relevant today. By understanding how these ancient cities were built, we can create more sustainable, liveable urban spaces that meet the needs of our growing population."

Sandeep Reddy, Co-author of this report, commented, “Believe it or not, the key to building smarter, more sustainable cities today might lie in ancient history. The Indus Valley Civilization’s urban planning—thought to be centuries ahead of its time—holds lessons that still apply. By revisiting how these cities were structured, we can uncover innovative solutions to the urban challenges we face now and in the future.”

To view report, click here.

About Primus Partners Pvt. Ltd.

Primus Partners Pvt. Ltd. is a leading management consulting firm based in New Delhi, with offices across India and a growing presence in the UAE. Specializing in sectors such as technology, public policy, and impact advisory, Primus Partners provides innovative solutions to drive sustainable growth for both public and private sector clients. With its expertise in Idea Realisation and sectoral leadership, the firm is at the forefront of consulting in India’s rapidly evolving economy.

For more information, visit www.primuspartners.in.

Tide¹ in India, the leading business financial platform for SMEs, has reached a significant milestone two years ahead of its target by crossing 1,200 employees in the country. In June 2021, Tide announced it would be creating over 1,000 jobs in India by 2026.

Tide in India celebrates 1,200 employee milestone, two years ahead of target

This milestone highlights Tide's strengthening of its footprint in the Indian market and driving ambitious growth. As part of this strategy, the company aims to create an additional 700 plus roles in 2025, focusing on product engineering, marketing, and other key business functions. The employee count includes team members from product and engineering, marketing, operations, and support functions from Tide’s offices in Delhi NCR and Hyderabad.

The efforts to hire and scale are to support its long-term vision for the Indian market. Tide will continue to expand its suite of services and products, designed to help and streamline the financial and admin needs of small businesses across India. World-class product, engineering and digital business talent has been instrumental in driving Tide's growth by delivering innovative and robust digital solutions tailored to the needs of small businesses. This has enabled Tide to rapidly expand its product offerings and enhance the overall user experience for its members across India and the UK.

Tide has been recognised for its employee-focused culture and commitment to growth opportunities, receiving the Great Place to Work certification in 2023 and 2024. This prestigious certification demonstrates the creation of a workplace that prioritises employee well-being, professional development, and inclusivity.

Gurjodhpal Singh, CEO, Tide in India said, “Tide's growth in India has been extraordinary, and we are proud of the talented team we have built. Crossing 1,200 employees is testimony to our strong business model, employee and member-first culture, and the incredible market potential in India. We will continue to scale our operations and provide opportunities for our people to thrive and grow.”

Singh further adds, “Tide operates with a global mindset, uniting a diverse, international team dedicated to the common mission of empowering small businesses worldwide. Guided by our three core values of Member First, Data Driven, and One Team, Tide prioritises its members' needs, relies on data to make informed decisions and strategies, and fosters seamless collaboration across its workforce.”

Tide is dedicated to creating a career-focused environment that empowers its employees, or “Tideans,” to learn and grow. Along with a strong, globally consistent onboarding programme, the company offers a variety of talent management initiatives aimed at enhancing professional skills and supporting individual career goals.

• Manager Foundation Training equips new and existing managers with the leadership and communication skills essential for effectively guiding their teams.

• Performance Management System ensures clear goal-setting, continuous feedback, and personal development opportunities to support each team member in achieving their best.

• GROW - A bi-annual programme introduced to prepare first-level managers to help them understand their roles as people managers and train them to take up leadership roles in the future. Launched at the beginning of 2024, two sessions have already taken place this year, with more than 90 percent of the employees attending, with 16 hours of training followed by coaching on active cases.

• WOVEN (Women's Opportunity for Vocational Empowerment & Networking), an initiative launched in October 2024, aims to empower women returning from career breaks to re-enter the workforce. The programme creates pathways for experienced professionals to secure meaningful roles in India's dynamic fintech sector. This initiative, aimed at attracting talent, reflects Tide's commitment to fostering a diverse, inclusive workplace while enabling women to restart and advance their professional careers.

¹Tide is not a bank in India, but a business financial platform. Tide, in the UK is the leading digital platform in business banking services. We believe that a platform approach is the future of business and admin needs, allowing us to offer both financial and admin services to SMEs, saving them time (and money) to allow them to focus on what they love: running their businesses.

Tide⁽¹⁾ in India, the leading business financial platform for SMEs, says its invoicing solution is saving 10 - 12 hours per month, one year after launching the product. The solution helps to optimise processes by chasing unpaid invoices, reducing costs, and increasing organisational efficiency. 

SMEs Save an Average of 10-12 Hours a Month with Tide's Invoicing Feature

MSME Samadhaan - a portal launched by the Ministry of MSME to address the issue of delayed payments shows that approximately Rs. 26876 crore are stuck in delayed payments. Delayed payments are known to have a significant negative impact on small businesses, creating cash flow challenges that hinder their ability to meet operational expenses. These delays don't just lead to disruptions in business continuity, but force SMEs to resort to expensive informal lending to manage short-term needs. 

Digitising traditional invoicing is complex for small enterprises, who lack resources and technological expertise to streamline their billing admin. A survey conducted by Tide in 2023 revealed that 50 percent SMEs find bookkeeping and invoicing, technology adoption, and upgrading accounting systems a challenge. 

Tide’s Invoicing solution helps SMEs generate GST-compliant tax invoices and Bill of Supply (non-tax invoice). A small business generates an average of 100 invoices in a month, and spends an average of 2-2.5 hours per week creating and generating these invoices manually and managing expenses on spreadsheets, and an additional 1.5 hours chasing pending invoices. 

Tide addressed these pain points with the Invoicing tool that includes:

• Automatic invoice chasing - automated reminder emails for unpaid invoices 

• Automatic invoice matching - notifications sent as soon as a small business is paid, payments automatically linked to invoices for easy bookkeeping

• Get paid via UPI - Helping our members get paid with India's most popular instant payment method

• More than 400,000 SMEs have joined Tide since its launch in December 2022, and a total of about 6500 invoices have been generated through the Invoicing feature on the Tide app. Out of which 40% have already been paid. 

Gurjodhpal Singh, CEO, Tide India said, “The negative impact of late payments on small businesses has been well documented. Late payments stifle growth, as businesses find it difficult to reinvest in expansion or innovation. For many small businesses, whose survival depends on steady cash inflows, delayed payments also damage supplier relationships and diminish trust, making it harder for them to secure goods and services on credit. This creates a ripple effect that affects their overall growth in the long term."

"We at Tide, believe in helping businesses - whether it is a contractor, freelancer, sole trader, or small business owner save time and money. Our invoicing solution takes us one step further in this direction and allows us to streamline processes for SMEs- by helping them raise GST-compliant invoices, auto-chase invoices as well as get paid via UPI – thus mitigate the risk of delayed payments.”

Despite the 45-day payment rule mandated by the Section 43B(h) of the Income Tax Act, a recent report⁽²⁾ says that 52% of MSME B2B payments are overdue for 90+ days. Delayed payments are a major factor that affects the working capital of SMEs, often leading to business closures because of losses. 

¹Tide is not a bank in India, but a business financial platform. Tide, in the UK is the leading digital platform in business banking services. We believe that a platform approach is the future of business and admin needs, allowing us to offer both financial and admin services to SMEs, saving them time (and money) to allow them to focus on what they love: running their businesses.

²Based on a report published by Recordent, a credit and payments reporting platform for B2B transactions, that conducted a survey on B2B payment trends and challenges faced by over 2800 SMEs, from across the country.

Mr. Frank Muller-Rosentritt (Member of Parliament, Free Democratic Party, Germany) along with FNF team, during their visit to an MSME unit in Delhi
 

During the visit, the FNF team interacted with MSME owners and operators, acquiring a deeper understanding of the challenges these enterprises face and the opportunities that exist within the sector. The delegation acknowledged the critical role MSMEs play in driving economic growth and creating employment in India. Discussions focused on how these businesses could continue to develop, ensuring sustainable growth in the years to come.

The Foundation for MSME Clusters (FMC), a public trust established in 2005, facilitated the visit. FMC has been working for nearly two decades to enhance resource efficiency and promote the use of sustainable materials across various MSME clusters in India. Some of FMC's key achievements include:

• Reducing 41,000 tonnes of CO2 emissions annually in foundry clusters.

• Establishing paving block enterprises that consumed 163,000 tonnes of foundry slag.

• Replacing 1,800 tonnes of unsustainable materials with bamboo in bamboo clusters.

These projects have received support from national and international donors, including the European Union, SIDBI (Small Industries Development Bank of India), and the Yes Foundation. FMC is currently working on multiple projects in the Panipat recycled textile cluster, focusing on resource efficiency and traceability, supported by HSBC, DANIDA, SIDBI, and the European Union.

Friedrich Neumann Foundation (FNF) has been a long-standing partner of FMC, supporting its work in promoting sustainability and resource efficiency within MSME clusters. The recent visit allowed the FNF delegation to witness firsthand the operations of Indian MSMEs and gain valuable insights into the sector's vital role in India's industrial landscape.

About FNF

The Friedrich Naumann Foundation for Freedom operates in over 60 countries worldwide, with offices in India, Pakistan, and Sri Lanka. FNF promotes civic education, training, and the exchange of ideas in the areas of economic freedom, human rights, urban governance, and digital transformation. In South Asia, FNF collaborates with partners in Bangladesh, Bhutan, and Nepal, supporting both country-specific and regional programs.
 

For more information, please visit website www.fmc.org.in.

Mr. Priyavrata Mafatlal, Vice-Chairman of the Arvind Mafatlal Group

India’s entrepreneurial landscape has experienced a remarkable surge in recent years. In 2022 alone, over 25,000 startups were recognized by the Department for Promotion of Industry and Internal Trade (DPIIT), a dramatic increase from just a few thousand five years ago. This growth reflects the nation’s entrepreneurial drive, powered by digital innovation and an appetite for disruption. However, in a country as diverse as India, success requires more than technological expertise; it necessitates a nuanced understanding of the socio-economic landscape and the emotional pulse of its people.

In the digital era, Indian entrepreneurs must create value that resonates not only with urban consumers but also with the vast rural population, which constitutes nearly 65% of the country. Emotional intelligence, therefore, is critical. Understanding the unspoken needs of a farmer in Maharashtra or a small business owner in Bihar requires more than just data analytics; it demands empathy, cultural sensitivity, and the ability to craft solutions that address both functional and emotional challenges.

Here are three key pieces of advice:

Embrace Agility: The rapid pace of technological advancement in India, while exhilarating, is also fraught with complexities. The country’s digital economy is projected to reach $1 trillion by 2025, but with this growth comes the pressure to continuously innovate and adapt. Entrepreneurs must navigate a dynamic environment, discerning enduring trends from fleeting fads, and making decisions with far-reaching consequences. In this fast-paced world, adaptability is the cornerstone of success. Be open to change, iterate quickly, and view setbacks as opportunities to refine your approach.

Stay Grounded in Values: Amidst the wave of innovation, it is crucial to remain anchored to core values. Integrity, authenticity, and purpose are not just buzzwords-they are the pillars of sustainable growth in the Indian context. In a market teeming with competition, those who lead with purpose and a deep commitment to societal impact will rise above the rest. Build your business with a clear vision and stay true to your principles, as this will not only guide your decisions but also earn the trust and loyalty of your customers.

Prioritize Emotional Intelligence: In a country as diverse as India, understanding the emotional and cultural nuances of your audience is key to creating meaningful connections. Emotional intelligence is not just a soft skill; it’s a strategic advantage. Invest time in listening to your customers, understanding their needs, and empathizing with their challenges. This will enable you to craft products and services that truly resonate, fostering deeper relationships and long-term loyalty.

Lastly, entrepreneurship is a journey that demands more than just technical prowess. It requires a harmonious blend of innovation, resilience, and emotional intelligence, all underpinned by a commitment to creating value. As India continues to navigate this transformative era, these qualities will define the entrepreneurs who will shape the nation’s future, driving progress that is both equitable and enduring.

Automate Business, a premier provider of business automation solutions, hosted its two-day summits, attracting an impressive 150 visionary entrepreneurs and business leaders. This esteemed summit convened the attendees to explore strategies to foster a sustainable, scalable, and profitable business that operates efficiently. The summit aims to empower entrepreneurs to redirect their focus towards growth, innovation, and personal freedom.
 

Mr. Kewal Kishan, Founder of Automate Business, shares insights on simplifying business automation to help MSMEs
 

The summit prioritized empowering Micro, Small, and Medium Enterprises (MSMEs) through automation. The event united leading industry leaders, innovators, and entrepreneurs to explore the evolving capability of business automation.
 

As the year 2024 shapes up to be a pivotal moment for more than 10000 businesses embracing Automate Business Platform, the year 2025 is anticipated to bring widespread integration. The summit delved into the latest innovations and real-world applications of management, AI, and automation. This helped in equipping attendees in the summit to develop strategies in optimising operations, enhance customer experiences, drive exponential growth, reimagine business processes, and unlock new revenue streams.
 

Kewal Kishan at Business Automation Summit 2024
 

At the summit, Mr. Sanjeev Bikhchandani, Founder and Executive Vice Chairman of Info Edge counselled MSMEs and said that, "To scale your business, one should focus on three crucial skills - prioritising your work, willingness to work diligently and developing your team's expertise. The key to sustainable growth lies in creating a 'Repetitive, Profitable Unit' which is a scalable, profitable business model that drives long-term success."

He further added that, "To grow your Business Automation is the Key."
 

Mr. Kewal Kishan, Founder of Automate Business says, “We want to simplify the concept of business automation, which enables them to focus on business growth and success. The aim of this summit is to provide valuable insights and practical solutions for the entrepreneurs and MSMEs to automate their day-to-day operations.”
 

Empowering MSMEs with Business Automation Summit 2024

The summit featured panel discussions, insightful sessions, and networking opportunities, for the attendees. It also provided valuable insights to automate and optimize their business operations. In order to help more MSMEs, we are expanding our presence with our new office at Emaar Colonnade, Golf Course.

About Automate Business

Automate Business is a premier business automation solutions provider dedicated to transforming the MSME landscape. Since 2013, they’ve empowered over 10,000 businesses across 70+ industries with user-friendly, innovative tools. With a track record of training 2 lakh MSMEs and a stellar 4.8-star Trustpilot rating, Automate Business is committed to automating one million MSMEs by 2030, fueling growth and success for small businesses globally.

Elynker, a newly launched digital platform, is redefining the way Micro, Small, and Medium Enterprises (MSMEs) and entrepreneurs navigate the digital landscape. Elynker has officially entered the market, offering a broad suite of services tailored to address the specific challenges faced by MSMEs, including limited digital expertise, fragmented market access, and a lack of visibility online.

Allison Henriques, Founder and CEO of Elynker

The platform’s strategic development began in the events industry, but recognizing the growing digital needs of MSMEs across various sectors, Elynker has quickly expanded its reach. The company now offers a comprehensive one-stop solution designed to support businesses of all sizes in building their digital presence, optimizing operations, and connecting with new opportunities.

“We’ve seen first-hand how small businesses struggle to keep pace with the demands of the digital economy,” said Allison Hendricks, CEO and Founder of Elynker. “Our platform is dedicated to bridging that gap by providing MSMEs with the tools they need to establish a robust online presence, manage day-to-day operations more efficiently, and tap into new markets. We believe in empowering these businesses to succeed in an increasingly competitive environment.”

Elynker’s services include digital portfolio creation, social media management, e-commerce platform integration, and support for website development. Businesses can also access AI-driven tools for streamlining operations, as well as resources for networking and collaboration. Additionally, Elynker offers services such as loyalty program implementation, recruitment support, credit solutions, and access to coworking spaces, ensuring that MSMEs are fully equipped to thrive.

As Elynker sets its sights on the future, the company is confident in its ability to become a key player in the digital services space for MSMEs. Over the next two years, Elynker projects revenue of INR 14 Crores, driven by an aggressive growth strategy that includes scaling user acquisition through targeted marketing campaigns, strategic partnerships, and enhanced service offerings.

Elynker’s vision is to build a seamless and inclusive digital ecosystem that supports the growth of small businesses across India. The company aims to become the go-to platform for MSMEs seeking a comprehensive solution for their digital needs. By fostering long-term relationships with its clients and continuously adapting to their evolving needs, Elynker is positioning itself as a trusted partner in the growth journey of businesses nationwide.

For more information, visit www.elynker.com

About Elynker

Elynker is a versatile digital platform dedicated to empowering Micro, Small, and Medium Enterprises (MSMEs) and entrepreneurs by providing essential digital services. With a focus on bridging the gap between traditional business practices and modern digital needs, Elynker offers a wide range of services including digital portfolio creation, e-commerce management, and AI-powered business tools. Elynker is committed to creating a seamless digital ecosystem where businesses can thrive in today’s competitive market.

In a strategic move to augment its global presence, Primus Partners Pvt. Ltd. - India’s leading home-grown consultancy firm - today announced the opening of its new office in UAE. The strategic decision highlights Primus Partners’ commitment to providing its service delivery and engagement in major Middle Eastern markets. 

Nilaya Varma, Co-founder & CEO of Primus Partners

The UAE office will be established as a wholly-owned subsidiary of Primus Partners India, marking a significant step in expanding its footprint into international jurisdictions under the aegis of Mr. Nader Haffar as Director. With over 30 years of experience in professional services and management consulting across global, regional, and local markets, Mr. Haffar brings a wealth of knowledge and expertise to his role.

The establishment of the new office aligns with the recent MoUs (Memoranda of Understanding) signed between India and the UAE, covering crucial areas such as bilateral trade, energy cooperation, infrastructure development, cultural exchange and people-to-people initiatives. Furthermore, the recent enactment of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) has created a robust framework for future collaboration between the two nations.

Honourable Prime Minister Modi’s 7th visit to the UAE has been instrumental in laying the groundwork for these significant trade interventions. As of FY2022-23, the UAE was India’s third-largest trading partner and second-largest export destination. India is the UAE’s second-largest trading partner, with bilateral trade reaching US$85 billion. These developments are poised to drive the two countries towards the ambitious goal of US$100 billion in bilateral trade, potentially achieving this milestone well before 2030.

Nilaya Varma, Co-founder & CEO of Primus Partners, stated, “Expanding into Dubai represents a pivotal step in our strategic vision to forge deeper, more impactful partnerships in the region. As UAE increasingly asserts its role as a major player in the global economy, we see tremendous potential to drive innovative solutions and thought leadership within this market. This expansion enhances our ability to deliver tailored, high-value services to clients and positions us to capitalize on emerging opportunities across segments. Moving ahead, the focus will be on leveraging our presence to spearhead transformative projects and solidify our role as a leading advisor in the region.”

Nader Haffar, Director of Primus UAE, commented, “Our new office in UAE will play a vital role in steering key regional projects. By leveraging initiatives such as IMMEC and I2U2, we are not only contributing to global trade dynamics but also positioning ourselves to spearhead innovations that address critical areas such as infrastructure and sustainable development. Our objective is to harness these opportunities to create lasting economic and environmental impacts.”

Davinder Sandhu, Co-founder & Chairperson of Primus Partners, added, “With our recent office launch in Chennai marking a major milestone, expanding into UAE and KSA represents the next strategic step in this journey. Both countries are leading a new era of economic collaboration and innovation. This expansion is more than just a geographical move as it places us at the epicentre of transformative projects that will drive sustainable development and economic progress across the region. We will leverage our expertise to contribute meaningfully to the dynamic growth of the Middle East.”

In the past two years, Primus Partners has doubled its workforce, showcasing a commitment to excellence and innovation. The launch of the new office in UAE marks a strategic growth milestone, paving its path for future advancements. With robust expertise in key policy areas, the new establishment will strengthen its thought leadership, enabling the firm to leverage its expanded capabilities. Together with its new partner, the firm will drive transformative change and shape the future of consultancy across critical sectors.

MOU Signing Ceremony between SATYA MicroCapital & M-SWASTH for launching Free-of-Cost Telemedicine & E-Clinic Service

Telemedicine Service will help SATYA’s clients, and their respective family members to easily connect with a network of general physicians and specialist doctors remotely over a call through their registered mobile numbers for their non-emergency medical needs along with acquiring general information related to any disease.

On the other hand, e-Clinic is essentially launched for providing affordable healthcare consultation services to people in remote areas and will be operated by a Community Health Facilitator (CHF). The CHF will take a note of all medical parameters of the patient visiting the clinic and will then facilitate a video-call or voice call via a Laptop/Tablet Doctors. Once the consultation process is completed, automatic follow-up will also take place through a cloud based digital application, which will also maintain medical records of the patients. Through this initiative of SATYA & M-SWASTH, people will be able to receive completely free of cost Digital OPD and Healthcare facilities through extensive network of experienced MBBS Doctors.

Sharing his thoughts, Mr. Vivek Tiwari (MD, CEO & CIO - SATYA MicroCapital Limited) stated, “Our aim is to empower people and for this, we realize the importance of basic health services. Health is undoubtedly considered as an elementary aspect of one’s good life quality. This collaboration with M-SWASTH has the potential to revolutionize healthcare accessibility for marginalized populations, offering them quality medical care regardless of their financial constraints. We are certain that this service will reach more than 1 crore people living at the bottom of the pyramid in the coming two years. Additionally, this also signifies a significant step towards addressing healthcare disparities and improving overall health outcomes. We at SATYA feel proud that by embracing technology and removing financial barriers, this collaboration will not only empower individuals to take charge of their health and well-being but will also ultimately contribute to a more equitable and inclusive healthcare system.”

Mr. Neeraj Maheshwari (CEO - M-SWASTH) said, “We are excited to collaborate with SATYA MicroCapital to address the healthcare needs of underserved communities. This partnership is a significant step towards making quality medical care accessible and affordable for all, ensuring 'Sanrakshan Swasthaya Suraksha'—good health for everyone, regardless of their circumstances. It’s a big day for us as we take this monumental step towards a healthier future for everyone.”

About SATYA MicroCapital Limited
Established in October 2016, and headquartered in the capital city of New Delhi, SATYA initiated the course of its operational journey in January 2017. With the foremost and fundamental goal of empowering rural women, both digitally and financially, SATYA has come a long way since its incorporation. Since then, the company has registered an impressive growth by achieving an Assets Under Management (AUM) value of more than Rs. 6,000 Crores. The organization’s firm belief in modern technology and its potential to increase efficiency, reduce risks, and enhance overall customer experience is apparent in its adoption of the most cutting-edge innovations to power its operations. SATYA has established its terrestrial footprints via an operational network of 650+ branches in nearly 55,000 villages across 25 states.

At present, SATYA is furnishing its affordable micro credit services to more than 18 lakhs women entrepreneurs from rural and semi-urban areas who are excluded from traditional banking channels. SATYA is integrally concentrated towards building their financial capacity and ability to grow to financial self-sufficiency. The taskforce of more than 7000+ employees are playing an intrinsic role in SATYA’s ongoing growth trajectory. In addition to yielding financial aid to unbanked sections of the population, SATYA MicroCapital consistently associates with institutions of the same wavelength to disseminate the importance of digital and financial literacy in rural areas.

About M-SWASTH

M-SWASTH provides comprehensive health coverage, focusing on low-income and emerging middle-class populations, aligning with our vision of Digital Health Inclusion for All. M-Swasth offers a full range of cost-effective digital health products that benefit customers throughout their health journey. Our high-tech yet high-touch business model serves both online (web, apps) and offline (feature phones, GSM-based) service models.

Our offerings include E-Clinics which runs on phygital model operated by qualified nursing staff (ANM/GNM) with key vital tests. These E-Clinics enable video consultations by our in-house team of qualified doctors (minimum MBBS), basic health vital checks, and provide Schedule O medicines in remote locations, making healthcare accessible to village residents. We are present in 520 districts, 22 states and have established 3000+ E-Clinics to date.

With over 95 lakhs and 50 lakh doctor consultations, 60% of them are women, M-SWASTH is committed to ensuring healthcare is a right for all.

Importance of Cash Flow Management in MSMEs

Why Cash Flow Management Matters for MSMEs

Cash flow refers to the movement of cash in and out of a business. Positive cash flow indicates a healthy business, while negative cash flow can lead to financial strain. Here's why cash flow management is crucial for MSMEs:

• Ensures Business Continuity: Unexpected expenses or delays in receiving payments can disrupt operations. Strong cash flow management safeguards against such disruptions, allowing MSMEs to meet their financial obligations and continue functioning smoothly.

• Facilitates Growth: Growth often requires investments in inventory, equipment, or marketing. By managing cash flow effectively, MSMEs can identify surplus funds for strategic investments, propelling business expansion.

• Improves Creditworthiness: Financial institutions assess a business's health based on its cash flow. Demonstrating consistent positive cash flow strengthens an MSME's creditworthiness, making it easier to secure loans for future needs.

• Enables Informed Decision-Making: Cash flow analysis provides valuable insights into a business's financial performance. This allows MSME owners to make data-driven decisions regarding pricing, inventory management, and resource allocation.

Empowering MSMEs with loans to solve their rising challenges in Cash Flow Management

Shriram Finance recognizes the importance of cash flow management for MSMEs and offers a suite of solutions designed to empower them:

• Working Capital Loans: These loans provide immediate access to funds, bridging the gap between receivables and payables, ensuring smooth cash flow.

• Inventory Financing: This solution unlocks the value of inventory, allowing MSMEs to purchase raw materials or stock up on in-demand products without straining their cash flow.

• Financial Advisory Services: Our experienced team provides guidance on cash flow management best practices, helping MSME owners develop customized strategies for optimizing their cash flow.

Shriram Finance’s Commitment to MSME Success

At Shriram Finance, we are committed to supporting the growth and prosperity of MSMEs. By promoting effective cash flow management practices and offering tailored financial solutions, we empower them to navigate financial challenges, seize opportunities, and achieve long-term success.

To explore the various offerings of Shriram Finance, kindly visit www.shriramfinance.in/working-capital-loan or contact 18001034959 for assistance

About Shriram Finance

Shriram Finance Limited is a leading diversified financial services company in India, offering a wide range of financial products and services across consumer, wholesale, and business finance segments. The company has a strong presence pan India with network of 3,082 branches and an employee strength of 74,645 servicing to 83.97 lakhs of customers. With a focus on financial inclusion and customer-centricity, Shriram Finance continues to empower individuals and businesses to achieve their financial goals.

Tally Solutions announces fourth edition of MSME Honors

The nominations will be open for all businesses with an annual turnover less that INR 250 crores and a valid GSTIN number. The entries can be submitted by interested businesses or people who know such businesses via this link: Tally Salutes Small & Medium Businesses | International MSME Day 2024 (tallysolutions.com) by May 31^st.

Over the last three edition ‘MSME Honours’ received around 8,000 nominations across 100 cities, of which nearly 1000 entries were from women led ventures. The fourth edition is likely to expect around 10,000 nominations by MSME owners and the winners will be felicitated on the occasion of International MSME Day celebrated on June 27^th, 2024. In addition to India, the initiative will also invite participation from other regions like the United Arab Emirates, the Kingdom of Saudi Arabia, Bangladesh, Nepal, and Kenya. The categories of MSME Honours 2024 include:

• Wonder Women: Recognizing women who have overcome challenges to establish thriving businesses, inspiring others in the process.

• Business Maestro: Celebrating seasoned professionals whose expertise and resilience serve as guiding beacons for aspiring entrepreneurs, laying the groundwork for enduring success.

• NewGen Icon: Highlighting startups as dynamic leaders in the business landscape, pioneering fresh solutions to age-old challenges and carving out new paths for growth.

• Tech Transformer: Honoring businesses at the forefront of technological advancement, leveraging digital tools to drive efficiency and effectiveness in their operations.

• Champion of Cause: Acknowledging champions who prioritize the global well-being of MSMEs, making significant contributions towards fostering a more sustainable and inclusive business environment.

Speaking on this initiative, Ms. Jayati Singh, Chief Marketing Officer, Tally Solutions, said, “We are thrilled to announce the launch of the fourth edition of ‘MSME Honours’ and aim to bring forth remarkable MSME stories, irrespective of size, geography, or business type. Over the years, we have taken several efforts to augment the MSME economy. This initiative is our humble endeavour to celebrate the relentless efforts and contributions of these businesses, spotlighting their stories of innovation and growth at a hyper-local level and share their stories as an inspiration for others. We have felicitated close to 400 winners across all editions in India, UAE, KSA, Bangladesh, Nepal, Indonesia and west Africa and we are optimistic of a greater participation this year as well.”

The nomination entries will be judged by an esteemed panel comprising of experts from the field of technology, MSME domain and media.

About Tally Solutions 

Tally Solutions Pvt. Ltd. is a pioneer in the business software products industry. Since its inception in 1986, Tally's simple yet powerful products have been revolutionizing the way businesses run. Having delivered path-breaking technology consistently for more than 3 decades, Tally symbolizes unmatched innovation and leadership. With over 2.5 million customer licenses activated worldwide, it caters to more than 7 million users across industries in over 100 countries. The brand has one of the largest partner ecosystems in the country with more than 28,000 partners associated with the company directly to provide a seamless and delightful customer experience. 

Kinara Capital ranked on the Financial Times-Statista list of 500 High-Growth Companies in Asia-Pacific 2024
 

This is the 5th consecutive year for Kinara Capital to be positioned along with other independent companies that are contributing to Asia’s economic growth. The rigorous criteria for the FT500 ranking, including a minimum CAGR of 15.1%, highlight the selectivity of this recognition. Compliance with these criteria further validates Kinara Capital’s position as a key player in India’s, as well as Asia's economic growth arc.
 

Reflecting on this milestone, Hardika Shah, Founder & CEO of Kinara Capital, expressed profound gratitude and stated, “We are honored to rank on the FT500 listing for the 5th consecutive year. At Kinara Capital, we have led with an impact-oriented sustainable growth mindset from the beginning. Our determined focus, combined with strong unit economics, has led to us consistently delivering value to all our stakeholders. Asia is tilting the world’s economic fulcrum with rapid economic growth, which makes the FT500 ranking even more superlative. We at Kinara Capital are immensely humbled by this merit-based recognition.”
 

With a combination of technology-led processes and doorstep customer service, Kinara Capital is leading MSME financial inclusion. The company's fast and flexible approach to financing is perfectly positioned to support small business entrepreneurs. To date, Kinara Capital has cumulatively disbursed INR 6,700 crores across more than 1 lakh collateral-free business loans. With its multilingual myKinara App, MSME business owners can start the process from their smartphones and check their eligibility instantly without uploading any documents. Kinara Capital provides collateral-free business loans in the range of Rs. 1 lakh to Rs. 30 lakhs to over 300 MSME sub-sectors across Manufacturing, Trading, and Services sectors. 
 

The FT500 ranking by Financial Times, with data analysis by Statista, is based on extensive research and review of several parameters, including verification of any company-provided data. Kinara Capital is recognized for its consistent and sustainable growth year on year. From India, Kinara Capital is one of the only 71 independent companies ranked on FT500 this year.

About Kinara Capital

Kinara Capital is a fast-growing fintech company dedicated to the financial inclusion of small business entrepreneurs in India. Kinara Capital has disbursed over 1 lakh collateral-free business loans, thereby propelling vast financial inclusion within India’s MSME sector. Kinara’s visionary Founder & CEO Hardika Shah leads with a women-majority management team and has raised the bar for gender inclusivity with its HerVikas program for women entrepreneurs. The company is qualified as a Systemically Important NBFC by the Reserve Bank of India (RBI) and is a debt-listed entity on the Bombay Stock Exchange (BSE). Founded in 2011, and headquartered in Bengaluru, Kinara Capital has 133 branches serving MSMEs across 100+ cities in India with a workforce of 2,000+ employees.

Visit kinaracapital.com for more information and follow us on LinkedIn.

SIDBI - Celebrating 34 Years of Empowering Entrepreneurs
 

Established under the SIDBI Act of 1989, SIDBI has continuously evolved to meet the dynamic needs of the MSME sector, playing a pivotal role in driving economic growth, generating employment opportunities, and fostering inclusive development across India.
 

Over the past three decades, SIDBI has successfully implemented various initiatives and schemes aimed at providing financial assistance, capacity building, and technological support to MSMEs. These initiatives have not only facilitated access to credit but have also enhanced the competitiveness and sustainability of MSMEs, thereby contributing significantly to the country's socio-economic progress. In celebrating 34 years of unwavering commitment, SIDBI acknowledges the invaluable support and collaboration of its stakeholders, including the Government of India, state governments, partner financial institutions, industry associations, and, most importantly, the MSME community.
 

To mark the occasion, a celebration was held on 2^nd April 2024, marking the virtual assembly of SIDBI officials from pan India. During the event, Shri S. Ramann, CMD, SIDBI, expressed his gratitude, emphasizing the institution's dedication to fostering the growth of MSMEs as a crucial driver of India's economic prosperity. Mr. Ramann stated, "As we commemorate this significant milestone, we renew our pledge to empower MSMEs and champion entrepreneurship for India's economic advancement." He highlighted the importance of formalizing informal entities and announced increased resources allocated to initiatives such as PRAAYAS and the innovative digital platform, GST SAHAY.
 

Shri Sivasubramanian Ramann, CMD, SIDBI
 

Furthermore, Shri. Ramann underscored SIDBI's successful engagement with FinTech companies and reiterated the institution's unwavering support for smaller entities grappling with high interest rates. In addition to CMD’s remarks, Shri Sudatta Mandal, DMD, celebrated SIDBI's achievement of surpassing a balance sheet milestone of Rs. 5.2 lakh crore. He emphasized the institution's commitment to streamlining credit delivery processes for exponential growth.
 

Shri. Prakash Kumar, DMD, elaborated on SIDBI's evolving role under the Development Financial Institution (DFI) banner, praising visionary leadership for guiding its transformation. The event featured insightful presentations from department heads of various verticals, including Digital Initiatives, NBFC, Partner Lending, Green Climate Finance, and Programmes for Development and Impact.
 

Looking ahead, SIDBI remains resolute in its mission to catalyze MSME growth, nurture entrepreneurship, and contribute to building a robust and resilient Indian economy.

About Small Industries Development Bank of India (SIDBI)

SIDBI is the Principal Financial Institution for Promotion, Financing and Development of the MSME sector. SIDBI has been playing a significant role in developing the financial services for MSME sector through various interventions including Refinance to Banks, Credit Guarantee programs, Development of the MFI sector, Contribution to Venture capital/AIF funds, MSME ratings, promoting digital lending ecosystem, etc. The Bank has proactively been working towards Energy Efficiency (EE) in MSMEs since 2005-06 using support of multilateral institutions like World Bank, ADB, GiZ, FCDO, JICA, AFD, KfW etc. for energy efficient projects. Furthermore, SIDBI has been touching the lives of citizens across various strata of society through its integrated, innovative, and inclusive approach. Be it traditional, domestic small entrepreneurs, bottom-of-the-pyramid entrepreneurs, to high-end knowledge-based entrepreneurs, SIDBI has directly or indirectly impacted the lives of Micro and Small Enterprises (MSEs) through various credit and developmental measures.
 

This innovative tool is designed to address the distinctive challenges faced by small, medium, and large establishments in managing their First Mile Dispatches through Digitization, with a focus on operational efficiency. By streamlining operations and fostering growth across all enterprise segments, Blue Dart aims to transform the way businesses handle their shipments.

Blue Dart will integrate the cutting-edge software platform offered by eShipz.com into its existing logistics infrastructure. This integration will provide access to advanced dispatch tools, ensuring seamless connectivity with sales platforms, marketplaces, order management systems, warehouse management systems, and enterprise resource planning systems of shippers.

On the offering, Balfour Manuel, Managing Director, Blue Dart, says, “Through this platform, we aim to enhance the capabilities of both MSMEs and large enterprises, enabling them to optimize their supply chain processes and gain a competitive edge in their respective industries. We are dedicated to supporting the growth and success of MSMEs, not only in India but also in enabling them to go global."

On the partnership, Shivadeep Mahadi, Co-Founder & CMO of eShipz.com, added, "Our partnership with Blue Dart aligns perfectly with our mission to empower businesses through technology."

One of the Blue Dart’s key USPs is its unparalleled reach, boasting access to over 56,000+ locations across the nation and with DHL Group spanning 220 countries and territories worldwide.

About Blue Dart Express Ltd.

Blue Dart Express Ltd., South Asia's premier express air and integrated transportation & distribution company, offers secure and reliable delivery of consignments to over 56,000+ locations in India. Blue Dart is a provider of choice for its stakeholders due to its customer centric approach and aims to further strengthen this partnership. As part of DHL Group’s DHL eCommerce division, Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and territories, and offers an entire spectrum of distribution services including air express, freight forwarding, supply chain solutions, customs clearance etc.

The Blue Dart team drives market leadership through its motivated people, dedicated air and ground capacity, cutting-edge technology, wide range of innovative, vertical specific products and value-added services to deliver unmatched standards of service quality to its customers. Blue Dart's market leadership is further validated by its position as the nation’s most innovative and awarded express logistics company for exhibiting reliability, superior brand experience and sustainability which include recognition as one of ‘India's Best Companies to Work For’ by The Great Place to Work® Institute, India, ranked amongst ‘Best Multinational Workplaces in Asia’ by The Great Place to Work® Institute, Asia, voted a ‘Superbrand’ and ‘Reader’s Digest Most Trusted Brand’, listed as one of Fortune 500’s ‘India's Largest Corporations’ and Forbes ‘India's Super 50 Companies’ to name a few. Blue Dart’s Diversity and Inclusion initiatives have also led to it being recognized as one of India’s ‘Best Workplaces for Women’ in 2021 and ‘Best Organisations for Women’ in 2022 by the Economic Times.

Blue Dart fulfils its social responsibility of climate protection (GoGreen), disaster management (GoHelp) and education (GoTeach) through its GoPrograms.

Janasha Finance is on a mission to empower micro, small, and medium enterprises (MSMEs) and semi-skilled professionals who are often overlooked by traditional financial institutions. With an innovative managed marketplace for mortgage lending, LoanKuber, under which Janasha Finance operates, demonstrates a unique blend of technological innovation and social responsibility.

Championing financial inclusion, Janasha Finance has built an automated institutional co-lending platform for mortgages allowing for competitive pricing to the end customer while generating higher yields on its own NBFC balance sheet. The company has created hybrid acquisition channels that include a digital connector platform, lead generation platform, and low-cost branches that reduce customer acquisition costs by up to 30 percent. Currently present across NCR, the company aims to expand its AUM to INR 220 crores by FY25.

The company employs data mining and analytics to unlock the economic value of semi-urban and rural properties in order to improve financial health. Janasha aims to provide access to formal credit for small business owners through unlocking the value of their self-occupied properties. The company underwrites mortgage loans between INR 3 lakhs – INR 10 lakhs, primarily for business expansion. 

Janasha Finance was incepted in 2018 by Saurabh Nagpal, an alumnus of IIT Delhi & Saumya Nagpal, an alumnus of IIM Bangalore, with a mission to serve the underserved MSMEs at the bottom of the pyramid, who lack access to formal mortgage finance. 

Speaking on the funding, Saurabh Nagpal, Founder & CEO, LoanKuber said, “The fresh infusion of funds not only fuels our growth but also reaffirms our mission to enable mortgage lending for our low-income communities. Leveraging the power of data mining and analytics, we unlock the economic value of semi/urban rural properties, driving financial well-being for the Next Half Billion. With this financing, we're well positioned to accelerate our efforts towards building  a more inclusive financial landscape."

“We are committed to empower the  underserved  MSMEs, and plan to onboard 5,000 MSMEs over the next 18 months as a part of our expansion strategy. In the process we are also eyeing to deliver a profit of INR 8-10 crores in FY25 for our shareholders,” he further added.

Jayesh Shah of Mavuca Capital Advisors said, “We are excited to support Janasha Finance in their mission to revolutionize mortgage lending to underserved communities. There is a pressing need for innovative solutions to address the gap in access to financial services. Janasha Finance is not just filling a gap in the market; it's rewriting the narrative of financial services for underserved communities.”

Previously, the company has raised US$4 million in funding. The Series A round was announced in early 2023 with participation from Inflection Point Ventures, Auxano Accolade Holdings, LetsVenture, PS1 Ventures, Mavuca Capital, Angellist and marquee angel investors, including Prashant Tandon of 1Mg, Pankaj Vermani of Clovia, Ramit Sethi and Vishal Gupta of TA Associates. Prior to that, it raised a pre-Series A round in 2021 from IPV, LetsVenture, AngelList India, and Accolade.

About Janasha Finance

Janasha Finance is a RBI registered NBFC, founded in 2018 by Saurabh Nagpal and Saumya Nagpal under the brand name of LoanKuber. 

Janasha Finance provides mortgage finance to the un-banked/underserved sections of society which is not effectively served by the formal finance system and is known in the market by the name of LoanKuber. Its customers are micro enterprises (Kirana Stores, small Shop owners, Small Manufacturing Units) in peri-urban areas across NCR who lack access to formal income. It provides mortgage loans from INR 3-8 lakh to MSMEs and semi-skilled professionals. 

LoanKuber is an automated platform, enabling mortgage lending to micro-SMEs against owned residential collateral. LoanKuber, through its automated platform, makes mortgage lending more accessible and affordable for micro, small, and medium-sized businesses in India, particularly in the National Capital Region, by using technology to streamline processes and collaborating with larger financial institutions.

For more information, visit www.loankuber.com.

Initiated in 2014, The Spirit of Manufacturing Awards resonate with the Indian government's "Make In India" initiative, aiming to celebrate advancements in the manufacturing sector and inspire young innovators to refine their skills under effective leadership and with adequate resources. This endeavor seeks to propel these innovators onto a path of rapid growth by providing them with essential resources and mentorship to accelerate their progress.
 

Power2SME and TiE Delhi-NCR Announce the Winners of Spirit of Manufacturing Awards 2024
 

As a process, all the applications undergo pre-screening before assessment, leading to a final selection of 20 contestants. Winners are determined based on presentations to a Jury of business experts and industry veterans, evaluating criteria such as execution strategy, competitive advantage, management depth, sales and marketing strategy, and financial viability.
 

Mr. R Narayan, Founder, and CEO of Power2SME, said, “India's ascent as a global hub for entrepreneurship owes much to its pioneering innovations, empowering start-ups and SMEs. Key government initiatives like 'Make in India' and 'Skill India' have significantly bolstered manufacturers and small businesses. The Spirit of Manufacturing Awards, now in its tenth season, remains steadfast in its mission to laud exceptional ideas, products, and entrepreneurs in the Indian manufacturing sector. This initiative underscores the vast potential inherent in India's manufacturing landscape. Year after year, we pledge to spotlight and honor the ingenuity driving progress in this vital industry.”
 

Geetika Dayal, Executive Director, TiE Delhi NCR, opined, “We are immensely proud of our association with Power2SME spanning a decade. The prestigious Spirit of Manufacturing Awards have been dedicated to celebrating and honoring the remarkable achievements of startups in the manufacturing domain. The Awards have encouraged and empowered innovative business ideas by providing a platform to showcase their exceptional propositions. TiE Delhi-NCR will continue reaching out to such startups nationally & providing them centrestage to build for The New Bharat."
 

The winners were awarded across 4 categories based on the innovative skills and the tangible impact showcased. The categories included Social Impact, Young Entrepreneur, IT Adoption & Innovation, Woman Entrepreneur of the Year, and Special Jury Award.
 

About Power2SME

Headquartered in Gurugram, Power2SME is an Embedded Finance Company, focused on SMEs. It has over 5 branches spread across Mumbai, Chennai, Kolkata, Ahmedabad, and Pune. Having started its operations in 2012, Power2SME with its mission 'Empower SMEs to enable the India growth story' has a proven track record of enabling small businesses and enterprises to enhance their overall productivity and achieve measurable business value through its offerings. Power2SME plays a crucial role in financing the SMEs along with sourcing input raw materials at the most economical price points in varied categories like Chemicals, Inks, Paints, Metals, Polymers, and more. This helps SMEs focus on their core business of accelerating growth, both in terms of revenue and development.

Know more: www.power2sme.com | Linkedin: in.linkedin.com/company/power2sme.
 

About TiE Delhi-NCR

TiE Delhi-NCR is among the most active and vibrant chapters across the vast TiE network. In the last two decades, it has continuously taken the lead in creating an increasingly positive ecosystem for entrepreneurs and investors. With a strong mentor support base, marquee events and focused workshops throughout the year it has Delhi TiE Delhi-NCR conducts a wide range of programs to help entrepreneurs. These include TiEcon, India Internet Day, Sustainability Summit, HR Summit, TiE Institute, TiE Young Entrepreneurs along with Special Interest Groups (SIGs) across sectors.

For more details and registration www.tiecon-delhi.org.

Kinara Capital, India’s fast-growing fintech driving MSME financial inclusion, today announced a new INR 500 crores fund and expanded benefits to mark the 5th year anniversary of its HerVikas program for women entrepreneurs. The new benefits aim to encourage more women-owned MSME startups to experience the gains of early access to formal credit by providing them with catalytic capital.

HerVikas program drives vast financial inclusion of women entrepreneurs leading to improved income generation and new job creation

HerVikas will automatically provide qualifying women entrepreneurs with 1% interest rate discount on collateral-free business loans, a 60-day repayment holiday, and a 50% reduction in loan processing fees. In addition to providing bias-free credit decisioning with AI/ML powered myKinara App, HerVikas will also be extended to newly registered MSME startups in the Manufacturing and Trading sectors who may qualify within one month of its business registration. HerVikas is aimed at empowering more women entrepreneurs to pursue establishing their business goals with lowered costs and without immediate loan repayment concerns.

Hardika Shah, Founder & CEO, Kinara Capital, said, “Every year, we are inspired by our own HerVikas customers who are collectively breaking the glass ceiling. And, now in the 5th year of this program, we are proudly committing our largest allocation to date of INR 500 crores in FY25 and introducing new benefits aimed at empowering more women-owned MSME startups to thrive. By easing access to credit, and enhancing it further with reduced charges and delayed repayment, we are confident that the HerVikas program will empower even more women entrepreneurs to strengthen their business growth.”

Kinara Capital has disbursed over INR 700 crores to date under the HerVikas program in collateral-free business loans. With the additional allocation of INR 500 crores, HerVikas disbursements will exceed INR 1,200+ crores by FY25.
 

Since the rollout of the HerVikas program, it has been a transformational force supporting 5,800 women MSME entrepreneurs across 100+ cities in India. The further impact of HerVikas program has led to over 31,000+ jobs supported in local economies, of which over 5,500+ are new jobs created by women entrepreneurs. Overall, the support through HerVikas has led to a cumulative post-loan net income generation of around INR 187 crores with women entrepreneurs experiencing an average of 16% increase in their proprietor salary from their businesses.

Kinara Capital has addressed the core challenges faced by women entrepreneurs by introducing a collateral-free, bias-free approach to business loan availability. The strategic implementation of AI/ML via its multilingual myKinara App removes human bias from credit-decisioning thus benefiting women entrepreneurs who routinely face discrimination when it comes to loan approvals, tenor and interest rate. No separate application is required by women entrepreneurs to qualify for HerVikas collateral-free business loans, available in the range of INR 1 to INR 30 lakhs. All of the HerVikas program benefits from Kinara Capital are applied automatically via its myKinara App which offers a fast 1-minute eligibility check and can take an applicant from inquiry-to-decisioning within 24-hours.

About Kinara Capital

Kinara Capital is a fast-growing fintech company dedicated to financial inclusion of small business entrepreneurs in India. Kinara Capital has disbursed over INR 6,500 crores to date across 1 lakh collateral-free business loans, thereby propelling vast financial inclusion within India’s MSME sector. Kinara’s visionary Founder & CEO Hardika Shah leads with a women-majority management team and has raised the bar for gender inclusivity with its HerVikas program for women entrepreneurs. The company is qualified as a Systemically Important NBFC by the Reserve Bank of India (RBI) and is a debt-listed entity on the Bombay Stock Exchange (BSE). Founded in 2011, and headquartered in Bengaluru, Kinara Capital has 133 branches serving MSMEs across 100+ cities in India with a workforce of 2,000+ employees.

Visit kinaracapital.com for more information and follow us on LinkedIn.

This press release may contain projections and other forward-looking statements regarding future events or future financial performance. These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. Given business risks and uncertainties, undue reliance on these forward-looking statements should not be placed. Actual events or results may differ materially from those contained in the projections or forward-looking statements.

In their latest report titled, "India’s Turn To Lead By 2047", Primus Partners has unveiled findings that paint an optimistic picture of India’s journey towards becoming a developed nation by 2047. The report, which synthesizes insights from 33 experts and the perspectives of Indians across 25 states, underscores a complex landscape of hope, ambition, and apprehension as the country navigates its socio-economic trajectory.

The report, with a foreword by Amitabh Kant, unveils compelling insights garnered from a diverse range of respondents across 25 Indian states and union territories, shaping the vision for "New India". Among the key findings, citizens believe in India's emergence as one of the largest economies, self-reliant, and leading in the new world order. Amongst the surveyed people, 16% of respondents across geographies envision a developed India as one of the largest economies globally and one with a higher GDP per capita.

“Backed by civilizational ethos and confidence, the nation is on a mission to constructively reform itself and harness its strengths. India seeks to propel itself toward a future that not only uplifts its own people but resonates with the betterment of all humanity—because when India grows, the world grows,” – Amitabh Kant, G20 Sherpa, Former CEO NITI Aayog.

It further goes on to outline the nation's developmental aspirations and the hurdles it must overcome. A robust 70% of respondents express confidence in the vision of Viksit Bharat, anticipating India's emergence as a global leader by 2047. This optimism is mirrored in the 63% who envision India as a powerhouse in global trade, technology, and economy.

The survey also sheds light on public engagement with governmental visions for the future, revealing that 42% of respondents are already familiar with the government's plans for 2047. This level of awareness suggests a significant portion of the population is engaged and interested in the country's developmental direction. However, on the other side of the spectrum, 27% of respondents believe rural India remains disconnected from urban centres, pointing to a critical need for improvement in connectivity and infrastructure to bridge this divide.

The complexity of India's aspirations is further illustrated by the diverse expectations of its population. While aspirations for luxury living, global connectivity, and technological advancement drive the middle class, pressing challenges remain. Security concerns and gender equality emerge as significant issues, with 10% of the surveyed population viewing lack of security as a threat and 18% highlighting concerns over women's safety.

Primus Partners’ survey methodology, employing a mix of qualitative and quantitative analysis across 24 personas and 2047 interviews, ensures a comprehensive view of trends and perspectives across different demographics. This detailed approach reveals not only the nation's collective vision but also the nuanced apprehensions about the rapidly evolving job market, exacerbated by technological advancements like AI.

"The survey aimed to bring to the forefront the voices from the ground, particularly those less talked about, to create a document centred on inclusivity. The report goes beyond just capturing the hopes, challenges, and aspirations of Bharat; it includes expert insights on the pathways forward. There are plans to develop more detailed roadmaps for each area in the future," – Nilaya Varma, CEO & Co-founder, Primus Partners.

The report concludes with a call to action, urging policymakers, industry leaders, and the public to engage in a constructive dialogue about the future of work in an AI-driven economy. It advocates for upskilling and reskilling initiatives as essential strategies to mitigate the perceived threat of AI on employment, ensuring that India’s workforce remains competitive and adaptable in the face of technological change.

As India stands on the cusp of a transformative era, "India’s Turn To Lead By 2047" offers a critical reflection on the hopes and challenges that define its path toward development. By highlighting the apprehension towards AI among job seekers, the report underscores the urgent need for a balanced approach to technological adoption—one that harmonizes innovation with job creation and inclusivity. It not only serves as a roadmap for navigating the complex socio-economic landscape of India but also as a catalyst for national discourse on crafting a future that leverages technology for growth while ensuring no one is left behind.

Annexure

The "INDIA’S TURN TO LEAD BY 2047" report includes contributions from over 30 experts, each bringing their unique expertise to form a comprehensive roadmap for India's Amrit Kaal. The roadmap is an essential part of the document wherein the experts delve into observations, suggestions, and commentaries on all the elements that the surveys have identified for each of the personas.

The list of contributors includes notable figures such as Amitabh Kant, G20 Sherpa; Dr. Charan Singh, CEO and Founder Director, EGROW Foundation; Baba Kalyani, Chairman and Managing Director, Bharat Forge Limited; Guneet Monga, Film Producer; Dr. Anil Agrawal, Member of Parliament; Dr. Fauzia Khan, Member of Parliament, Rajya Sabha; Richard Rekhy, Former CEO, KPMG India; retired and existing civil servants, prominent members of industry, academia, and others.

In his foreword, Amitabh Kant talks about how Aatmanirbhar Bharat in 2047 will drive the New World Order. He outlines India's transformative journey post-independence towards becoming a developed nation by 2047, highlighting significant economic reforms, digitization, and investment in clean energy as pivotal to this goal. The foreword emphasizes India's role on the global stage, with a focus on sustainable growth and innovation, aiming to lead by example in the new world order.

Baba Kalyani outlines how Manufacturing will still be the core sector providing jobs in 2047. His vision emphasizes India's leap towards a USD 30 trillion economy by 2047, with a strong focus on innovation and intellectual property (IP) driving the manufacturing sector's fifteen-fold growth. He advocates for harnessing India's demographic dividend and digitization while prioritizing technological advancements and IP creation to establish India as a global manufacturing leader.

Richard Rekhy envisions how India will emerge as a significant soft power on the global stage in 2047. He emphasizes India's transformation into a global soft power, driven by its rich cultural heritage, secular ethos, and contributions in areas like cinema, yoga, Ayurveda, and foreign policy. He envisions India leveraging this soft power by 2047 to shape global perceptions and foster a spirit of innovation, harmony, and global citizenship, underlining the nation's role as a leader and healer on the world stage.

Guneet Monga underscores the pivotal role of Indian cinema in shaping societal views on gender and women, highlighting its continued importance in promoting equality and diversity. She emphasizes the industry's journey towards inclusivity, both on-screen and behind the scenes, as crucial for reflecting and fostering societal progress toward a more equitable India by 2047.

Included in the report are over 33 thought pieces that tackle the issues highlighted by the persona surveys. These thought pieces outline solutions to a range of challenges India must address on its path to becoming a developed nation. Among these challenges are the need for enhanced skill development, ensuring timely delivery of justice, empowering women farmers, transitioning India from a product market to a product nation, improving access to quality healthcare and education, doubling farmers' incomes, and improving infrastructure and rural-urban connectivity, among others.

• To reward the shareholders of the company on crossing of monumental milestone of Rs. 10,000 Crore in consolidated AUM, the board recommended the issue of Bonus Shares in the proportion of 2:1 i.e. 2 (Two) new fully paid-up bonus equity share of Rs. 10/- (Rupees Ten only) each for every 1 (One) existing fully paid-up equity share of Rs. 10/- (Rupees Ten only) each held by the shareholders of the Company as on the Record Date.

• To fuel the next level of the growth of the company, the board passed an enabling resolution to raise funds for an aggregate amount not exceeding Rs. 700 Crores in one or more tranches by way of a Qualified Institutions Placement (QIP), in accordance with the relevant provisions of applicable law,subject to approval of the Company’s shareholders and receipt of applicable regulatory approvals.

MAS Financial Services Limited

Commenting on board meeting outcome, Mr. Kamlesh Gandhi - Founder, Chairman & Managing Director, MAS Financial said, “The board of directors of the company is delighted and unanimously recommends the issuance of Bonus Shares to reward the shareholders of the company. While the capital base of the company remains very strong, the enabling resolution to raise capital is to further strengthen the balance sheet and fuel the next level of growth. Team MAS remains committed to its mission of excellence through endeavors.”

Incepted back in 1995, MAS is registered as non-banking financial company with the Reserve Bank of India. With a plethora of retail finance options in its arsenal, MAS is focused on fulfilling the requirements of lower income and middle-income groups of the society. The company offers Financial Services for Micro Enterprises Loans, SME Loans, Home Loans, Two-Wheeler Loans, Used Car Loans, and Commercial Vehicle Loans to satisfy their varied needs. The focus remains on the vast lower income and middle-income groups of the society, spread across urban, semi urban and rural areas, and including formal and informal sector.

Tide, the UK's leading business financial platform, has reached a significant milestone by onboarding more than 200,000 SMEs (members) in India since its market entry just over a year ago. Tide’s rapid growth in India since December 2022 shows how SMEs are leapfrogging to digitise their finances.
 

Fintech Tide onboards 200,000 SMEs within one year of market entry in India
 

Tide takes a member-first approach, focusing on removing the pain points for small businesses, starting with the Tide account and card. Tide is increasingly providing a range of products which are localised to SMEs in India. Members can anticipate features on the Tide app, including Khata, Bank Transfers, ATM withdrawals, Bill Payments and more in 2024.
 

The company plans to launch a credit marketplace platform for its members. Tide will help connect small businesses with the right set of lenders, streamlining the process of accessing credit and significantly reducing the time involved. This solution is designed to empower small businesses, offering them efficient and easy access to formal credit.
 

Tide believes that India represents a unique business opportunity, with a large untapped market going beyond the official count of 64 million small businesses.
 

India is undergoing a transformation in digital finance, bringing in a remarkable evolution of the ecosystem, fuelled by the government’s Digital India initiative. Millions more SMEs, a long under-served segment, have entered the formal economy in recent years, and are accessing credit as a result.
 

With a focus on saving businesses time and money, by digitising finance and admin, Tide is doubling down on onboarding, aiming at bringing 500,000 SMEs onto the platform by the end of 2024, so they can benefit from digital and financial services.
 

Gurjodhpal Singh, CEO, Tide in India, said, “Tide’s array of digital solutions help remove the pain points for entrepreneurs, making it much easier for them to do business. This frees them up to focus on growing their ventures and fulfilling their aspirations. We are delighted to provide small businesses with convenient, secure and efficient access to financial services, empowering their introduction into India’s rapidly expanding formal economy. By joining Tide, our members also create a financial footprint for themselves, which will drive greater and longer-term access to formal channels of credit, to help them power their businesses. As we celebrate this incredible achievement, we also want to renew our pledge to supporting SMEs, contributing to their socio-economic growth, and to relentlessly bringing solutions tailored to their evolving needs.”
 

With its commitment to protecting its members and restricting unauthorized access to the platform, Tide adopts a compliance-first approach. The fintech has onboarded members with a robust identity verification to formalize only genuine entrepreneurs. The company ensured a digitally secure environment for its members, ahead of India’s Digital Personal Data Protection Act 2023, putting the onus on businesses to safeguard users’ data.
 

Tide’s member-base reveals Gen Z and younger Millennials form 70% of members in the 18-30 age group. Tide is enjoying rapid adoption across key regions in India, including Uttar Pradesh, West Bengal, Maharashtra, Bihar, Rajasthan, Madhya Pradesh, and Odisha, among others. Close to 70% of the members on the platform are mom & pop stores, freelancers/solopreneurs, including a variety of professional consultants, grocery stores, repair shops and food & beverage outlets.
 

Looking ahead to reaching half a million members, Tide plans to further expand into Tier 2 and 3 cities, across a range of businesses. Tide is also advancing its Women in Business programme, with a goal to empower 500,000 women entrepreneurs in India by 2027.
 

Overall, Tide continues to grow rapidly, in terms of member numbers and revenue. Tide is developing many new products and services, to provide seamless connection between different financial and accounting services, as it seeks to simplify the challenges of running a small business.
 

In the UK, Tide has more than 10% market share, or 1 in 10 small businesses, typically 1-10 people, use Tide. Small businesses in the UK find its mobile app convenient and cost effective, and are able to carry out accounting, administration, payroll, banking, and other financial services on the go.

Unipe - Payroll Finance

"In the dynamic landscape of India's financial markets, the need for contextual lending products has never been more pronounced. Unipe's innovative payroll finance solution isn't just a remedy for current challenges; it's a testament to the essential role of tailored financial solutions in fostering growth and stability in today's diverse and evolving economic environment," says Anupam Acharya, Co-founder & CEO at Unipe.

Are you ready to transform your business and empower your workforce with Unipe's revolutionary payroll finance solution? Connect us at anupam@unipe.money to unlock prosperity for your company and its employees. Don't miss the opportunity to be a part of the financial inclusion revolution in India!

On May 23rd and 24th, QL One, Asia’s largest training and coaching company hosted PROFICORN 2023 in Bangalore

The event featured a panel of six iconic speakers, including Nithin Kamath, founder of Zerodha; Prashant Pitti of EaseMyTrip; Bhavesh Bhatia of Sunrise Candles; Rajesh Dembla of Zoozle; and Raghunandan and Siddhant Kamath of Naturals Ice Cream. These leaders shared their invaluable experiences and insights, offering inspiration and guidance to the enthusiastic audience.

PROFICORN 2023 also spotlighted the success stories of nine MSMEs within the QL One community, demonstrating the impact of effective business strategies and resilience. These narratives highlighted journeys through challenges such as the pandemic, family business transitions, and starting from scratch, underscoring the perseverance and ingenuity inherent in the MSME sector.

The event's highlight was the Business Success Awards, a clean and credible attempt to recognize 30 MSMEs across three categories based on their revenue growth. These awards were a testament to the tangible achievements of businesses post-engagement with QL One.

Additionally, the founders of QL One, Rajiv Talreja and Karan Hasija, announced the launch of the QL ONE App. This app offers functionalities like business growth training, networking, a business bazaar, and funding opportunities, all tailored to support MSMEs. The event also marked the unveiling of the Business Success Magazine, dedicated to sharing the stories of impactful MSMEs.

Eminent personalities in the training and coaching industry praised QL One's contributions to the MSME sector. Sidharth Rajsekar and Surendran Jayasekar acknowledged QL One's significant role in filling a crucial industry gap.

PROFICORN 2023 concluded on a high note, with attendees expressing that such recognition and support for MSMEs were long overdue. The event not only celebrated the successes but also reinforced the commitment to ongoing support and recognition for MSMEs, with plans for an even grander PROFICORN in December.

QL One returns with edition 2 of PROFICORN on 20th and 21st December 2023 with more icons, business journeys, awards and initiatives.

Thiru. T.M. Anbarasan, Hon’ble Minister for MSME, launched ‘Startup Thamizha’, Tamil Nadu's first Business Pitch Reality TV show, which aims to identify 50 promising startups from across the state and to facilitate funding for their ventures from reputed entrepreneurs, and angel investors.
 

MSME Minister Thiru. T.M. Anbarasan Launches ‘Startup Thamizha’ Reality TV Show for a Wide Range of Startups

Startup Thamizha has already generated a funding commitment to the tune of Rs. 200 crore from reputed entrepreneurs and angel investors. Refex Group has committed to invest Rs. 100 crore, while Dr. Velumani of Thyrocare and Pontaq are investing Rs. 50 crore and Rs. 25 crore respectively. Besides, Native Lead Angels is bringing in Rs. 10 crore – and the rest comes from other investors.

A novel initiative of StartupTN, the Government of Tamil Nadu’s nodal agency for Startup and innovation, the show will have three seasons. The first season is set to go into production by February 2024, and will be telecast on a popular Tamil TV channel. The show will be produced and managed by Brand Avatar, Blue Koi, and Refex Capital.

The launch event witnessed the special addresses by Tmt. Archana Patnaik, I.A.S., Secretary to Government, MSME Department, Mr. V. Arun Roy, I.A.S., Secretary to Government, Industries Department, and Mr. V. Vishnu, I.A.S., MD & CEO of Guidance Tamil Nadu. Thiru. Sivarajah Ramanathan, Mission Director & CEO, StartupTN, set the tone for the initiative and the event. Dr. A. Velumani, Founder, Thyrocare, delivered the keynote address. Among the dignitaries who took part in the event were Mr. Hemachandran L., Founder & CEO, Brand Avatar, Mr. Balachandar R., Founder, Blue Koi, and Mr. Dinesh Kumar Agarwal, Group CEO, Refex Group.

Commenting about the initiative, Mr. Sivarajah Ramanathan said, “Startup Thamizha exemplifies the collective commitment of the Tamil Nadu Government through StartupTN in fostering a thriving startup ecosystem, fostering economic growth and realising the Hon’ble Chief Minister's vision for a prosperous Tamil Nadu. A pioneering initiative, the Startup Thamizha platform aims to augment a conducive ecosystem for grassroots level, impact, and women entrepreneurship and to bring together founders, investors, mentors and support system partners for a synergised growth.”

Aspiring entrepreneurs who are interested in being a part of this transformative journey can visit www.startupthamizha.tv and register their names. The applying startups will undergo a rigorous five-stage screening process, engaging industry experts, investors and key ecosystem members. From this pool, 50 startups will be shortlisted, each poised for mentorship and training on presenting their ideas on mainstream television to primetime audiences.

Indian branding guru & Indian branding pioneer - Shailendra Shivakumar 

A brand is a name, term, design, symbol or any other characteristics that differentiates one’s goods or services from other sellers. Brands are all around us. They are used in business, marketing, and advertising for recognition and more importantly to create and increase value in the customer’s mind. Brand names are sometimes very unique to easily distinguish from generic brands.

Today in India, many small business owners face a variety of challenges that may halt their growth or success. These challenges can range from complex economic, regulatory, social and infrastructural factors. One of the biggest challenges faced by small businesses in India is competition with international giants. With giants such as Amazon, Uber, McDonalds penetrating the Indian economy, small scale businesses are struggling to find ways to stay afloat.

Most businesses do not realise how to tackle the problem. Most businesses fail to exercise the advantage of franchise, as they fail to duplicate and standardise their business processes and practices in other parts and areas. Hence, the brand of their business never gets heard.

Therefore, having a brand allows businesses to successfully differentiate themselves from competition. Most entrepreneurs believe that building a brand is more important than building a business. Brand is also about building and pushing the boundaries of a culture within the business. A brand is defined not by the increase in capital but the increase in reach with people. 

Indian Brand Day is an initiative created by BIRTH MARQUE. This “International Indian Brand Day” honours every Indian entrepreneur and founder who initiated and worked endlessly to build their brands from scratch in and around the world. November 10th is a day to be proud and celebrate the success of vision-driven individuals. 

Any founder or entrepreneur from India is entitled to celebrate this auspicious day in memory of their achievements. All Indian brands from small business to big business are entitled to celebrate “Indian Brand Day”.

The top digital marketing agency in Chennai, BIRTH MARQUE, is pleased to support you in building your brand on this special day. They honour the effort of creative, diligent and aspiring Indian entrepreneurs who have made their mark in the business world. 

A bold initiative “Nangulam Brands Dhan” from BIRTH MARQUE. This initiative is all about supporting and empowering small scale businesses all over India. On Nangulam Brands Dhan youtube channel, you can find videos of small scale business owners voicing out their concerns and way of life. This is to highlight their side of the stories and help them be a part something bigger, more specifically to give their voice a platform. 

BIRTH MARQUE is more than just a name; they give brands an identity. From one of the top advertising agencies in Chennai the Founder and CEO of BIRTH MARQUE, Shailendra Shivakumar is a very focused individual, who creates brand identity strategies and stories to propel brands to the next level. He is driven, creative, disciplined and aspirational with more than 13+ years experience in the industry. He is an Indian Branding Pioneer that stands with entrepreneurs, founders and small scale business owners.

MARQUERS believe in constantly supporting brands and ambitious entrepreneurs to win their races. They work globally! They value their clients! Most importantly they help achieve the vision and mission of the brands. BIRTH MARQUE, the top Tvc advertising agency in Chennai creates and nurtures successful brands internationally! 

Another key driving factor for the surge in expected spending is business travel, as 72% of businesses are expecting to increase spend on travel, entertainment, and expenses. Business and professional services also seem to be a key consideration with 68% Indian businesses expecting to spend more on it for the rest of the year. An impressive 88% of businesses feel optimistic about the future success of their company for the year ahead, well above the global Trendex average of 77%.

Manish Kapoor, Vice President and Head, Global Commercial Services (GCS), American Express Banking Corp., India said, “It's noteworthy that a substantial 84% of Indian businesses have taken steps to partially automate payments to their suppliers, with an impressive 39% achieving full automation of their payment processes. As the business landscape becomes increasingly competitive, the need to adopt smarter and more efficient payment solutions becomes paramount. For example, corporate cards, with their offering of extended payment terms, rewards on B2B expenditures, and seamless payment convenience, can make their spends more rewarding and efficient, effectively earning as they spend."

The survey further reveals that an overwhelming 92% of Indian businesses consider improving security around payments as a top priority. A large share of Indian businesses (90%) also agrees that managing cash flow and working capital has gained greater significance over the past year. Automation in payments is rising with 84% of Indian businesses having at least partially automated payments to suppliers, while 39% have fully automated their payment processes.

Business Spend Priorities

Technology takes the lead

• When it comes to spending priorities, technology emerges as the top category, with 88% of businesses planning to allocate more funds to technological advancements.

• Among the reasons driving this trend are the desire to improve payment speed and effectiveness (71%), enhance productivity (69%), and cater to customer demands for more digital products (63%).

Advertising & Marketing

• 79% of businesses are eager to increase their investments in advertising & marketing to explore new marketing channels (69%), target international markets (58%), and promote new products and services (58%).

Travel, entertainment, and expenses

• Of the 72% of businesses expecting to increase spend on travel, entertainment, and expenses, a top reason is businesses attending more industry events (68%) to network, gain industry insights, and explore potential partnerships.

• Moreover, businesses are increasing the amount of domestic business travel (63%) and international business travel (60%) to expand their reach, establish global connections, and seize new opportunities.

Business and professional services

• The most selected reason for higher business and professional services spending expectations is that companies are anticipating increased spending on IT and technology consultancy services (61%) to leverage technological advancements effectively.

• Many respondents are seeking increased accountancy/financial advice (59%) to navigate financial challenges and potential restructuring. 67% of the businesses spending more on business and professional services say that this is due to a rise in IT and technology consultancy, the top sub-category.

Automation in Payments

• The survey shows that 84% of Indian businesses have at least partially automated payments to suppliers, while 39% have fully automated their payment processes.

• Of those businesses that said that their payment processes were mostly or fully automated, 58% say that they have seen faster and more accurate invoicing. Furthermore, 54% reported it has reduced human error.

• 86% of Indian businesses say that they either plan to start automating or increase the level of automation for receiving payments from customers. Furthermore, 83% intend to increase their current level of automation of payments made to suppliers.

• For Indian businesses which haven’t automated all of their payments, 34% said they are seeking a partner to help them automate the business payments processes.

Survey Methodology

Trendex: B2B edition, commissioned by American Express with the Centre for Economics and Business Research (Cebr) was run by Opinium research. The sample for this year’s survey included 513 senior decision makers in India with responsibility over at least three categories of expenditure. The businesses surveyed across sectors and industries included sole enterprises, micro businesses, small and medium businesses as well as large businesses.

For further information about CEBR please visit www.cebr.com.

The event featured in-depth discussions on several critical topics within the lending industry, such as the potential of Decentralized Finance (DeFi), challenges faced by digital aggregators, strategies for optimizing collections that currently witness strong influence of FLDG. The experts also highlighted the need for aggregators to strike a balance between growth and compliance, while also promoting financial literacy and responsible collections practices. The need for an entity to address privacy concerns and navigate the complexities and foster collaborative dialogue between the regulatory bodies and the fintech ecosystem.

The 6th successful edition of the Frontiers of Digital Finance Roundtable was marked by the experiences and vision shared by various industry leaders including spokespeople from PwC India, AWS, Khatabook,and Ninjacart among others. The discussion centred around the opportunities and implications of digital aggregators in enhancing financial literacy and inclusion.

"We are thrilled to have hosted the Frontiers of Digital Finance Roundtable in Bengaluru," said Vineet Tyagi, Head of India Operations and Global CTO at Biz2X. He added, “The event provided a vital forum where industry leaders came together to delve deep into the dynamic landscape of digital lending. The Frontiers of Digital Finance Rountable provides the industry leaders a platform to exchange thoughts and discuss the vital role of aggregators in enhancing consumer financial health. This promotes financial literacy, and also fosters inclusion, that addresses the challenge of balancing growth with compliance in the ever-evolving regulatory landscape. It also optimizes collections management strategies, that reflects our commitment to industry innovation & collaboration for a more technologically advanced financial ecosystem.”

Putting forth his views while moderating the roundtable, Anit Shanker, Partner - BFSI Market, PwC India, said, “In the ever-evolving landscape of digital lending, the FDF Conference by Biz2X has been an exceptional platform for aggregators and industry leaders to convene and deliberate on critical themes. Our discussions on DeFi's potential, the role of aggregators in enhancing financial literacy, compliance challenges, and collections optimization will foster innovation to drive financial inclusion. The collective wisdom and expertise of our esteemed participants have set the stage for a more inclusive and responsible digital lending ecosystem. As we move forward, I look forward to continuing to collaborate, innovate, and pave the way for a future where technology and finance converge to empower individuals and businesses alike.“

Vishnu Ranganathan, Associate Director partnership and Alliances, Simpl, speaker at the conference, lauded the initiative stating, “This has been an absolutely incredible experience to have connected with numerous industry leaders. I had the opportunity to gain insights on the opportunities and challenges of the industry. On a personal note, I am eagerly looking forward to witnessing the ongoing evolution of this landscape. Such initiatives serve as a direction, guiding the industry towards a more enabled Indian lending ecosystem.”

Launched in June 2022, the Biz2X Maadhyam platform, offers end to end solution to enhance the customizable lending experience and reduces the credit gap & bring in financial inclusion among the small and mid-size businesses. Biz2X solutions not only reduces operational expense, but accelerates lending growth by significantly improving client experience, reducing total turnaround time and equipping the relationship managers with powerful monitoring insights and alerts.

As part of its ongoing efforts to drive innovation in the industry, Biz2X plans to organise similar events every month in Delhi and other cities.

Fintech Unicorn slice merges with North East Small Finance Bank

Accelerating Financial Inclusion and Technological Integration

This merger, pending requisite shareholders' consent and other regulatory approvals, brings together slice’s digital prowess and NESFB’s grassroots banking foundation. The combined entity supercharges its commitment to financial accessibility and will bring an unparalleled digital banking experience to its customers.

This merger is also emblematic of RBI’s unwavering commitment to fostering innovation and promoting digital financial inclusion.

Commenting on the merger, Rajan Bajaj, Founder & CEO, slice, said, “We’re grateful to the RBI for entrusting us with this immense responsibility. At slice, our unyielding devotion to customers and robust risk management have set us apart. This approach allows us to serve a wider audience, including those often overlooked, while also building a deep emotional connection with our customers. We will further strengthen our risk underwriting through the use of technology and data, and always keep customers at the heart of our decisions. We see this as an opportunity to build a highly inclusive and responsible bank, offering an unparalleled experience, underpinned by robust risk management and strong governance.”

Ms. Rupali Kalita, MD & CEO, NESFB, added, "This alliance with slice marks an exciting expansion of our reach and enhancement of our services. Dedicated to supporting the underserved, our collaboration is bolstered by slice’s innovative technology and a keen emphasis on customer experience. Meanwhile, we will continue to fortify the bank governance, with continuous improvements in compliance, risk management, and leadership. Together, we strive to deliver accessible and exceptional services, fostering inclusive and responsible banking for all.”

NESFB will continue its dedicated service to North East India, merging technology with deep community understanding to offer top-tier financial services to the region. This synergy of technology and empathy will not only bolster their enduring promise to the North East but also facilitate the extension of financial inclusion across the nation.

Customers of both entities will have a broader range of products, omnichannel offerings, and a seamless experience in the future. In the upcoming months, there will be an integration process with both entities working diligently to ensure a smooth transition for all customers.

This merger is a significant step forward in enhancing financial inclusivity using cutting-edge tech solutions, driving innovation, and setting new benchmarks in the industry.

About slice: slice, feel easy with money.

slice is India’s leading consumer payments and credit company focused on providing financial services to Indians. Trusted by 15 million Indians, slice is a market leader in this rapidly growing segment. The company aims to build a smart, innovative, and transparent financial platform that is loved by its consumers. slice app brings a fast and simple way to make payments and access credit through its cornerstone products: slice account, slice UPI, and slice borrow.

slice’s purpose is to make the world better at using money and time, with a major focus on providing the best consumer experience.

Backed by leading investors such as Tiger Global, Insight Partners, Advent International, Blume Ventures, and Gunosy Capital, slice has cumulatively raised $290mn in its series A, B, and C rounds.

For more information, please visit www.sliceit.com.

About North East Small Finance Bank: your doorstep banker.

NESFB stands as the sole small financial bank in the North-Eastern region of India, boasting an extensive network of branches spanning across 9 states. As a preferred banking institution, NESFB offers a comprehensive suite of financial services, encompassing bank accounts, deposits, cards, loans, and mutual funds. NESFB is committed to meeting the diverse financial requirements of individuals by delivering well-suited financial products and services promptly, conveniently, and responsibly. Leveraging doorstep banking and cutting-edge technology, NESFB plays a pivotal role in fostering sustainable growth within the broader community.

For more information, please visit nesfb.com/index.

NSIC offices across the country carried out Shram Daan activity in public places

Employees from all field offices enthusiastically participated at their respective locations and collected plastic waste, litter and debris, segregated and handed it over to the local Municipal team. Motivating employees to adopt cleanliness and hygiene as a way of life, Shri Gaurav Gulati, Director (Finance), NSIC stated that NSIC is committed to vision of clean and beautiful India and has been an active participant of Swachh Bharat Mission. On this occasion, Shri Gaurav Gulati, Director (Fin) NSIC along with Shri P. Ravi Kumar, CGM & Shri Manoj Lal, CGM, NSIC planted saplings marking NSIC efforts in creating a calm and healthy environment. The Trees ensure that we have fresh air to breath and mitigate climate change and each one must make a effort in this direction.

About NSIC

The National Small Industries Corporation Ltd. (NSIC), is an ISO 9001-2015 certified Government of India Enterprise under Ministry of Micro, Small and Medium Enterprises (MSME). NSIC has been working to promote, aid and foster the growth of micro, small and medium enterprises in the country. 

NSIC operates through countrywide network of offices and Technical Centres in the Country. In addition, NSIC has set up Training cum Incubation Centre managed by professional manpower.NSIC facilitates Micro, Small and Medium Enterprises with a set of specially tailored scheme to enhance their competitiveness. NSIC provides integrated support services under Marketing, Technology, Finance and other Support Services. 

For more information, please visit www.nsic.co.in or www.nsicspronline.com.

SATYA backed by SMBC Bank via USD 60Mn debt funding

The infusion of debt funding will engender an advancement in scaling up SATYA’s operational model while continuing to formulate innovative credit offerings, expanding product portfolio, providing complete end-to-end business processes for its esteemed clients. The funding will also be leveraged towards catalysing financial inclusion amongst women micro entrepreneurs and shaping a new paradigm of women empowerment through microfinance.

Mr. Vivek Tiwari, MD & CEO of SATYA MicroCapital Limited said, “Our association with SMBC Bank serves as the propelling force and motivation for SATYA to continue its mission of driving financial inclusion and empowering women entrepreneurs across India. The level of trust SMBC Bank has bestowed in our business model will form the helm of our expansion goals. SATYA’s business model is eventually gaining impetus across global landscape. Moving forth, SATYA will stay ardently committed to creating sustainable impact and enabling brighter future for countless households at the bottom of the pyramid.”

About SATYA MicroCapital Limited

Established in October 2016, and headquartered in the capital city of New Delhi, SATYA initiated the course of its operational journey in January 2017. With the foremost and fundamental goal of empowering rural women, digitally - socially - financially, SATYA has come a long way since its incorporation. Since then, the company has registered an impressive growth by achieving Assets Under Management (AUM) of nearly INR 5000 crore. With a network of more than 500 branches spanning over 50,000 villages across 25 states, SATYA is harnessing technology as a catalyst for inducing progressive change in the lives of its clients, where it has consistently integrated cutting-edge innovations into its operations. This in turn has resulted in SATYA emerging as one of the fastest growing highly-technology driven MFIs in the country. At present, SATYA is furnishing its affordable micro credit services to more than 15 lakh women entrepreneurs from rural and semi-urban areas who are excluded from traditional banking channels because of their low, irregular, and unpredictable income. The helm of SATYA's accessible services is to be a catalyst for the socio-economic upliftment of its clients via channelizing income growth and income generation. SATYA is integrally concentrated towards building their financial capacity and ability to boost financial self-sufficiency. The taskforce of more than 6000 employees plays an intrinsic role in SATYA's ongoing growth trajectory. In addition to yielding financial aid to unbanked sections of the population, SATYA MicroCapital consistently associates with institutions of the same wavelength to disseminate the importance of digital and financial literacy in rural areas.

Media Contact: mediarelations@satyamicrocapital.com

For More Information Visit: satyamicrocapital.com.