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🌟 Exciting News from SBI! 🌟 State Bank of India (SBI) has just launched a revolutionary digital solution for MSMEs' Invoice Financing - "MSME Sahaj - End to End Digital Invoice Financing". With MSME Sahaj, MSME loans can now be facilitated with an incredibly fast turn-around-time. This web-based solution ensures the entire process, from loan application, documentation, to disbursement, is completed within just 15 minutes, entirely without manual intervention. 🕒 ✨ Key Highlights: 👉 Fully Automated Process: From applying for the loan to its closure on the due date. 👉Quick Access to Finance: Customers can avail finance against their GST-registered sales invoices of up to ₹1 lakh in under 15 minutes. 👉On Tap Credit: Perfect for Micro SME units needing short-term credit for working capital. 👉Available on YONO: Accessible to existing customers through SBI’s YONO application. 👉Catering to Sole Proprietorships: Even non-credit customers with satisfactory current accounts can benefit. Dinesh Khara, Chairman of SBI, emphasized, "SBI is committed to setting new industry benchmarks by introducing Digital Solutions in SME Business Loans. MSME Sahaj is crafted with the vision of providing MSME units faster and easier finance using digital mode with a self-initiated end-to-end journey. This innovation reduces human intervention and enhances the ease of doing business." MSME Sahaj is a testament to SBI’s dedication to integrating innovation and customer-centric approaches to revolutionize the MSME lending landscape. Deleverage Technologies Dhruv Suri #MSME #DigitalFinance #InvoiceFinancing #SBI #Innovation #Fintech #BusinessLoans #DigitalTransformation #MSMESahaj

Please join in today for the upcoming CareEdge Webinar titled ‘Navigating the MSME Financing Landscape: Trends, Challenges, and Road Ahead’ at 4 PM. Registration link: https://lnkd.in/dJuHCXPb The guest speakers for the webinar are: Mr. Rahul Priyadarshi, Chief General Manager, SIDBI(Small Industries Development Bank of India) Mr. Sanjay Agarwal, Chief Executive Officer and Whole-time Director, Ambit Finvest Private Limited Mr. Narayan Barasia, Chief Finance Officer, SBFC Finance Limited Mr. Prabakaran S, Executive Vice President, RBL Bank   The session will be moderated by Sanjay Agarwal, Senior Director, and Jitendra Meghrajani, Assistant Director will make a presentation. With an overall ~64 million MSMEs in India, the sector has encountered and overcome challenges from events such as demonetisation, Covid-19, GST implementation and consequent consolidation. However, MSME lending still confronts barriers including insufficient data, collateral, and limited formal credit histories. A new wave of digital solutions is emerging, treating “information” itself as a form of collateral. This, along with a growing economy and supportive government initiatives, is poised to propel MSME lending forward. Besides Banks, NBFCs specializing in small-ticket MSME loans stand to benefit significantly from this growth trajectory, with anticipated stabilization of delinquency rates. CareEdge Ratings invites you to a webinar to discuss these developments featuring a panel of industry experts.   Following are the key points of discussion: ➡ Large lending opportunity to MSMEs ➡ Growing share of NBFC in MSME lending ➡ Profitability & asset quality trends for small ticket size MSME NBFCs ➡ CareEdge Ratings outlook on the sector   #CareEdgeInsights #CareEdgeAt30 #CareEdgeWebinars #MSME

In a recent interview with YourStory Media, our CEO, Mr. Nirav Choksi, highlighted the challenges hindering India's MSME sector growth. Traditional banking practices often overlook the immediate needs of these enterprises, leaving them struggling to access capital. Nirav further emphasized cash-flow-backed lending as a game-changer for MSMEs, offering tailored solutions that bridge the credit gap and fuel their rapid expansion. 𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞: https://bit.ly/49LPHH4 Our latest Report, "𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐒𝐮𝐬𝐭𝐞𝐧𝐚𝐧𝐜𝐞 𝐟𝐨𝐫 𝐒𝐌𝐄𝐬: 𝐍𝐚𝐯𝐢𝐠𝐚𝐭𝐢𝐧𝐠 𝐖𝐨𝐫𝐤𝐢𝐧𝐠 𝐂𝐚𝐩𝐢𝐭𝐚𝐥," dives deep into this transformative approach, advocating for innovative and data-driven transaction-based credit services. With MSMEs facing 1.5X longer cash conversion cycles than corporate players, actionable strategies are imperative for financial sustainability. Explore our report for exclusive insights. 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐲𝐨𝐮𝐫 𝐑𝐞𝐩𝐨𝐫𝐭: https://bit.ly/48Ar7In #MSMEgrowth #WorkingCapital #CashFlowBackedLending #CashFlowSolutions #LendingTrends #Fintech

SBI's digital transformation is revolutionizing SME financing with its "SME Digital Business Loans" initiative! State Bank of India is leading the way by digitising its operations, eliminating manual processes and accelerating the loan approvals. SMEs seeking loans up to ₹50 lakhs no longer need to submit financial statements, as data and technology would help in sanctioning. MSME advances are crucial for the bank’s growth, with a 20% increase in this segment. As of March 2024, the outstanding credit to MSME borrowers reached ₹4 lakh crore. This marks the 2nd pillar and 1st tier of SBI's digital transformation, streamlining operations and enhancing efficiency by eliminating the need for manual credit underwriting, thus providing robust support to the MSME sector. #FantasticFriday #industryreadiness #readyforbeyondcovid19world  #trusttheprocess #YouVersion2Point0 #DigitalTransformation #Finance #Banking #FinTech

Announcing the speakers for the upcoming CareEdge Webinar titled ‘Navigating the MSME Financing Landscape: Trends, Challenges, and Road Ahead’ at 4 PM on March 07, 2024. Registration link: https://lnkd.in/dJuHCXPb The guest speakers for the webinar are: Mr. Rahul Priyadarshi, Chief General Manager, SIDBI(Small Industries Development Bank of India) Mr. Sanjay Agarwal, Chief Executive Officer and Whole-time Director, Ambit Finvest Private Limited Mr. Narayan Barasia, Chief Finance Officer, SBFC Finance Limited The session will be moderated by Sanjay Agarwal, Senior Director, and Jitendra Meghrajani, Assistant Director will make a presentation. With an overall ~64 million MSMEs in India, the sector has encountered and overcome challenges from events such as demonetisation, Covid-19, GST implementation and consequent consolidation. However, MSME lending still confronts barriers including insufficient data, collateral, and limited formal credit histories. A new wave of digital solutions is emerging, treating “information” itself as a form of collateral. This, along with a growing economy and supportive government initiatives, is poised to propel MSME lending forward. Besides Banks, NBFCs specializing in small-ticket MSME loans stand to benefit significantly from this growth trajectory, with anticipated stabilization of delinquency rates. CareEdge Ratings invites you to a webinar to discuss these developments featuring a panel of industry experts.   Following are the key points of discussion: ➡ Large lending opportunity to MSMEs ➡ Growing share of NBFC in MSME lending ➡ Profitability & asset quality trends for small ticket size MSME NBFCs ➡ CareEdge Ratings outlook on the sector   #CareEdgeInsights #CareEdgeAt30 #CareEdgeWebinars #MSME

🚀 Breaking News: State Bank of India Redefines MSME Loans with 45-Minute Approval! SBI introduces 'SME Digital Business Loans' for lightning-fast loan approvals. Recognizing the critical role of small and medium-sized businesses (MSMEs) in our growth strategy, SBI eliminates cumbersome credit checks and long approval processes. Experience a new era of simplicity and speed in business lending, especially for loans under Rs 50 lakh. No more financial statements required—just transaction history and GST returns for assessment. Powered by real-time data including income tax returns and bank statements, SBI's advanced credit assessment engine can approve loans in an astounding 10 seconds, entirely automated. #loan #SBI #MSME #finance #trendingnews

#BudgetBoostsMSMEecosystem #EasyCreditFlowtoMSMEs #ProFinTechRecommendationEngine As we all know, Government has launched a series of initiatives in the Budget 2024-25 to support MSMEs who employ 20.55 crore people (Source for this data : the Udyam Registration Portal and Udyam Assist Platform). In FY2023-24, 7.44 crore jobs were registered compared to 3.49 crore in FY2021-22. Various Govt initiatives including PMEGP have strengthened employment in this significant sector. Some of the key steps taken by Govt to simplify credit flow to MSMEs : 1. Collateral free loan up to a limit of Rs. 500 lakh to MSEs with guarantee coverage up to 85% for various categories of loan through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) under Credit Guarantee Scheme. 2. In Special Mention Account (SMA) status, MSMEs will have access to credit backed by a government-promoted guarantee fund, protecting them from slipping into NPA status. 3. Launch of Udyam Assist Platform (UAP) to bring the Informal Micro Enterprises (IMEs) under the formal ambit for availing the benefit under Priority Sector Lending (PSL). 4. Schedule Commercial Banks (SCBs) have been mandated not to accept collateral security in the case of loans up to ₹10 lakh extended to units in MSE category. 5. Banks will do computation of working capital requirement of MSE units on the basis of simplified method of minimum 20% of the projected annual turnover of the unit for borrowal limits up to ₹ 5 crore. 6. Banks will lead the development of a new credit assessment model based on the #digitalfootprints of MSMEs, moving beyond traditional asset or turnover criteria (This is where FinTecs like #ProFinTech who bring in rigorous Alternative credit scoring covering >700 data points and the dynamism of business at the enterprise's end, would play a far bigger supporting + complementing role). 7. Greater financial flexibility through #MUDRA Loans - Entrepreneurs who have successfully repaid previous Mudra Loans under the Tarun category, will now have loan limit doubled from Rs. 10 lakhs to Rs. 20 lakhs. 8. The SIDBI, the primary financial institution for the MSME sector, will expand its network with 24 new branches opening this year itself, thus increasing its reach to 168 out of 242 major MSME clusters across India. 9. This budget also proposed reducing the turnover threshold for mandatory onboarding on the Trade Receivables Discounting System (#TReDS) platform from Rs. 500 crores to Rs. 250 crores. This will improve the scope for MSMEs to unlock working capital by converting trade receivables into cash. 10. DPI applications planned to be developed for MSMEs for GST, regulatory compliance, and return filing will ease compliance and the process of book-keeping for Micro enterprises. #BudgetBoostsMSMEecosystem #EasyCreditFlowtoMSMEs #ProFinTechRecommendationEngine

The Praetura Group lending businesses have trebled their loanbook in three years to over £400m. The Praetura Commercial Finance team have also secured £200m asset-based lending securitisation with Barclays to help more SMEs with their funding needs.   The funding makes Praetura the only specialist finance company in the UK to have two separate securitisation facilities in place for both sales finance and asset finance from two major institutional banks, following the asset finance securitisation facility of £160m from NatWest.   Our Fund The Gap report found that almost three-fifths (59%) of UK businesses say access to capital has decreased in the last five years, and that 43% report that it is one of the biggest challenges they face. Working with forward thinking institutions, such as Barclays UK, means we can bring down barriers to capital for thousands of UK businesses.    Thanks to everyone who's supported us along the way, we look forward to working with you more in the coming years.    #assetfinance #assetbasedlending #alternativefinance #smefinance #abl #commercialfinance #growthfinance

The Praetura Group lending businesses have trebled their loanbook in three years to over £400m. The Praetura Commercial Finance team have also secured £200m asset-based lending securitisation with Barclays to help more SMEs with their funding needs.   The funding makes Praetura the only specialist finance company in the UK to have two separate securitisation facilities in place for both sales finance and asset finance from two major institutional banks, following the asset finance securitisation facility of £160m from NatWest.   Our Fund The Gap report found that almost three-fifths (59%) of UK businesses say access to capital has decreased in the last five years, and that 43% report that it is one of the biggest challenges they face. Working with forward thinking institutions, such as Barclays UK, means we can bring down barriers to capital for thousands of UK businesses.    Thanks to everyone who's supported us along the way, we look forward to working with you more in the coming years.    #assetfinance #assetbasedlending #alternativefinance #smefinance #abl #commercialfinance #growthfinance

The Unified Lending Interface (ULI) announced recently by the #RBI holds transformative potential to bridge the #gap in #credit access for no-file and thin-file clients, individuals often excluded due to limited or no #credit #history. By leveraging #alternativedata sources like digital payment histories and #utilitybills, ULI offers to create a more #inclusivelending ecosystem, driving #India toward its vision of #ViksitBharat. ULI can not only democratise access to credit but also enhance the #efficiency of the #lendingprocess, reducing #costs and fostering #competition among lenders. However, its success will depend on addressing key challenges, including #dataprivacy, #financialliteracy, and #collaboration across the financial ecosystem. #Socialimpact of improved and increased credit access to currently not served or under served #consumers would depend on the ability of financing sector to bring #productinnovation using ULI. Ram Rastogi 🇮🇳 & I write in CNBC-TV18 - “Can thin-file become credit success stories” https://lnkd.in/dBTRf6jT #ULI #ThinFileCredit #FinancialInclusion #ViksitBharat #CreditAccess #FintechInnovation #DigitalLending #InclusiveFinance #RuralCredit #NoFileClients #EconomicGrowth #MSME #ResponsibleLending #AlternativeData #FinancialLiteracy #DataPrivacy #Fintech #FinancialEmpowerment #EquitableGrowth #SocioEconomicDevelopment National Payments Corporation Of India (NPCI) Reserve Bank of India (RBI) Reserve Bank Innovation Hub (RBIH)