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<ul><li><cmsannotation type="cmsannotation" annotationid="about" comment="event_nav" text="About the Summit"><span data-til="noop">About the Summit</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="themes" comment="event_nav" text="Themes"><span data-til="noop">Themes</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="who_will_attend" comment="event_nav" text="Who will Attend"><span data-til="noop">Who will Attend</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="agenda" comment="event_nav" text="Agenda"><span data-til="noop">Agenda</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="why_attend" comment="event_nav" text="Why attend"><span data-til="noop">Why attend</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="videos" comment="event_nav" text="videos"><span data-til="noop">videos</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="contactus" comment="event_nav" text="Contact us"><span data-til="noop">Contact us</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="insights" comment="event_nav" text="Insights"><span data-til="noop">Insights</span></cmsannotation></li></ul><cmsannotation type="cmsannotation" annotationid="video" comment="top_panel" text="https://slike-i.akamaized.net/3q/m9/3n3qm9l66u/720p_1600.mp4"><span data-til="noop">https://slike-i.akamaized.net/3q/m9/3n3qm9l66u/720p_1600.mp4</span></cmsannotation><br /><cmsannotation type="cmsannotation" annotationid="About the Summit" comment="about_title" text="About the Summit"><span data-til="noop">About the Summit</span></cmsannotation><br /><cmsannotation type="cmsannotation" annotationid="Description" comment="about_desc" text="The collective might of the 6.3 crore Micro, small, and medium enterprises (MSMEs) can not be overstated. They are the load-bearing pillar of the Indian, and have steadily marked their path to recovery post the pandemic. While a lot can be attributed to the government’s policy push and innovative financing solutions, technology and digital transformation has also been a game-changer. Tech has helped MSMEs resolve issues, discover new markets, deal with regulatory compliances and navigate logistical challenges to drive meaningful business growth.India’s journey towards a five trillion economy is going to be powered by these engines of innovation!At Business Insider India, we seek to highlight not just the potential, but the need for renewed thinking to supercharge the country’s MSME sector. MSME Exchange aims to provide a platform for businesses, regulators, industry leaders, experts to come together and share ideas, talk about challenges and solutions that will transform the MSME sector for decades to come."><span data-til="noop">The collective might of the 6.3 crore Micro, small, and medium enterprises (MSMEs) can not be overstated. They are the load-bearing pillar of the Indian, and have steadily marked their path to recovery post the pandemic. While a lot can be attributed to the government’s policy push and innovative financing solutions, technology and digital transformation has also been a game-changer. Tech has helped MSMEs resolve issues, discover new markets, deal with regulatory compliances and navigate logistical challenges to drive meaningful business growth.<br />India’s journey towards a five trillion economy is going to be powered by these engines of innovation!<br />At Business Insider India, we seek to highlight not just the potential, but the need for renewed thinking to supercharge the country’s <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword> sector. <keyword id="4106334" type="General" weightage="20" keywordseo="msme-exchange" source="Orion">MSME Exchange</keyword> aims to provide a platform for businesses, regulators, industry leaders, experts to come together and share ideas, talk about challenges and solutions that will transform the MSME sector for decades to come.</span></cmsannotation><br /><br /><cmsannotation type="cmsannotation" annotationid="who_all_attend" comment="wwa_title" text="Who will Attend"><span data-til="noop">Who will Attend</span></cmsannotation><br /><ol><li>                    <div type="image" title="MSME investors, venture capitalists, leaders from financial institutions, think tanks and consultants" msid="101167223" hostid="261"></div></li><li>                    <div type="image" title="Ministers, Government representatives, leaders from industry bodies" msid="101167231" hostid="261"></div></li><li>                    <div type="image" title="MSME champions &amp;amp; stars in the making - startups, innovators and entrepreneurs" msid="101167252" hostid="261"></div></li><li>                    <div type="image" title="Business leaders, owners and promoters across sectors" msid="101167300" hostid="261"></div></li></ol><cmsannotation type="cmsannotation" annotationid="themes" comment="themes_title" text="Themes"><span data-til="noop">Themes</span></cmsannotation><table class="redcator-table-advance"><tbody><tr><td>Policy</td><td>FOSTERING MSMES</td><td><ol><li>Building the right environment for MSMEs to thrive.</li><li>Deliberations on policy issues, and industry-first solutions.</li><li>Creating the ecosystem for entrepreneurship in the MSME space</li></ol></td></tr><tr><td>Finance</td><td>NEED FOR INNOVATIVE FINANCING</td><td><ol><li>Making capital affordable and accessible for MSMEs across the value chain</li><li>Direction for regulation to help strengthen MSME financing</li><li>Technology as an aid for improved financing</li></ol></td></tr><tr><td>Technology</td><td>BRAVING THE DIGITAL WORLD</td><td><ol><li>Is digital transformation the answer to challenges faced by small businesses?</li><li>SaaS and MSMEs - Using innovative business models to foster digital innovation</li><li>Hear from the best in business about tech solutions for empowering and building a competitive MSME landscape</li></ol></td></tr><tr><td>Marketing</td><td>BRAND BUILDING FOR SMES</td><td><ol><li>Omni-channel marketing for MSMEs and synergising online and offline brand building </li><li>Building customer loyalty through engagement. Adding a personal connection to marketing</li></ol></td></tr><tr><td>Social e-commerce</td><td>UNLOCKING MSMEs POTENTIAL</td><td><ol><li>From interaction to transaction - unlocking e-commece potential for Indian MSMEs</li><li>Sell and earn: Making e-commerce simple and easy for new entrepreneurs</li></ol></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>   <br /><div type="embedgroup"><title>Videos</title> <div type="Youtube" id="W-ZBi_vVA-g" title="Promoting MSME Growth And Ease Of Doing Business" thumbUrl="https://i.ytimg.com/vi/W-ZBi_vVA-g/mqdefault.jpg"></div><payload><![CDATA[videos_top]]></payload></div><div type="embedgroup"><title>Videos</title> <div type="Youtube" id="W3LmGX6rfCY" title="Innovative Financing For MSMEs" thumbUrl="https://i.ytimg.com/vi/W3LmGX6rfCY/mqdefault.jpg"></div> <div type="Youtube" id="R2Dkr8KoOew" title="Tech Solutions Solving For MSME Problems" thumbUrl="https://i.ytimg.com/vi/R2Dkr8KoOew/mqdefault.jpg"></div> <div type="Youtube" id="iZAUFoKjkPc" title="MSMEs: The Backbone Of Indian Economy" thumbUrl="https://i.ytimg.com/vi/iZAUFoKjkPc/mqdefault.jpg"></div> <div type="Youtube" id="X4YJlFWiWQI" title="Empowering Women-Led MSMEs" thumbUrl="https://i.ytimg.com/vi/X4YJlFWiWQI/mqdefault.jpg"></div> <div type="Youtube" id="tWROVASCMoI" title="Empowering Small Businesses (MSMEs &amp;amp;amp;amp; Sustainability)" thumbUrl="https://i.ytimg.com/vi/tWROVASCMoI/mqdefault.jpg"></div><payload><![CDATA[videos_list]]></payload></div><br /><div type="embedgroup"><title>Agenda</title> <div type="Article" hostid="261" msid="101167582" title="Day 1" rank="1.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="101454766" title="Day 2" rank="2.0" mstype="2" mssubtype="0"></div><payload><![CDATA[agenda]]></payload></div><br /><div type="embedgroup"><title>Why Attend</title> <div type="image" title="Understand the challenges and opportunities that prevail in the Indian MSME landscape" rank="1.0" mstype="3" mssubtype="0" msid="101159833" hostid="261"></div> <div type="image" title="Engage with expert speakers, industry captains, lenders, entrepreneurs and gain insights into their journeys and the road ahead" rank="2.0" mstype="3" mssubtype="0" msid="101159819" hostid="261"></div> <div type="image" title="Listen, learn from the brightest minds working to find real life solutions – the thinking that we need to supercharge the backbone of India’s economy - MSMEs" rank="3.0" mstype="3" mssubtype="0" msid="101159803" hostid="261"></div><payload><![CDATA[why_attend]]></payload></div><br /><bulletContentEmbed name="Contact us" columns="1"><bulletContentHeading name="Contact us_head"></columnHeadThumb>Contact us</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Contact us_body"><bulletContentRow name="Contact us_9517658605537691"><bulletContentRowHeading><bulletContentRowHead col="1">Become a Partner</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><strong>Maninder Kumar - Head, Brand Partnerships<br /></strong><a href="mailto:maninder@businessinsider.in"><strong>Maninder Kumar</strong></a></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[contactus]]></payload></bulletContentEmbed><br /><div type="embedgroup"><title>Previous Edition Speakers</title> <div type="image" title="Sudarshan Chari" rank="1.0" mstype="3" mssubtype="0" msid="101215842" hostid="261"></div> <div type="image" title="Rahul Kothari" rank="2.0" mstype="3" mssubtype="0" msid="101215804" hostid="261"></div> <div type="image" title="Sameer Jain" rank="3.0" mstype="3" mssubtype="0" msid="101215759" hostid="261"></div> <div type="image" title="Ankur Warikoo" rank="4.0" mstype="3" mssubtype="0" msid="101215670" hostid="261"></div> <div type="image" title="T Koshy" rank="5.0" mstype="3" mssubtype="0" msid="101215630" hostid="261"></div> <div type="image" title="Rajnish Kumar" rank="6.0" mstype="3" mssubtype="0" msid="101215599" hostid="261"></div><payload><![CDATA[past_speakers]]></payload></div><br /><br /><div type="embedgroup"><title>Insights</title> <div type="Article" hostid="261" msid="96728596" title="The IPO momentum will continue in 2023 at least for small IPOs: Prime Database" rank="1.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="96618323" title="Small is the new big: SME IPOs double in 2022, while mainboard IPOs halve" rank="2.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92055240" title="This startup has a solution for other startups suffering from funding slowdown" rank="3.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92485293" title="MSMEs can aid waste management in India but need more hand holding" rank="4.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="93027479" title="Financial Institutions Turning Towards MSME Lending" rank="5.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92598320" title="MSMEs run on promoter’s savings and need insurance as much as other businesses" rank="6.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92848620" title="Fintechs are helping Indian MSMEs with their biggest challenge — data and the lack of it" rank="7.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="92994870" title="Aditya Birla group to spend ₹2,000 crore on an MSME e-commerce venture" rank="8.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="93138395" title="India’s newly digitized MSMEs need offline marketing as much as online" rank="9.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="93323188" title="This startup is building infrastructure to automate and ease the process of giving out small biz loans" rank="10.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="93457388" title="MSME credit demand jumps 60% from pre-pandemic levels – a sign of rebound in economic activity" rank="11.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="94304823" title="IIT Guwahati starts incubation centre to help its students turn entrepreneurs" rank="12.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="95780667" title="Over 50% of microbusinesses had no mechanisms to cushion Covid impact, Road to Recovery report says" rank="13.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="95142442" title="Women-led Kinara Capital raises Rs 200 cr to empower MSMEs in India" rank="14.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="95575042" title="Union Bank, Tata Power Renewable join hands to help MSMEs switch to solar" rank="15.0" mstype="2" mssubtype="0"></div><payload><![CDATA[insights]]></payload></div><br />

MSME Season 4

<ul><li><cmsannotation type="cmsannotation" annotationid="about" comment="event_nav" text="About"><span data-til="noop">About</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="themes" comment="event_nav" text="Themes"><span data-til="noop">Themes</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="who_will_attend" comment="event_nav" text="Who will Attend"><span data-til="noop">Who will Attend</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="agenda" comment="event_nav" text="Agenda"><span data-til="noop">Agenda</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="why_attend" comment="event_nav" text="Why Attend"><span data-til="noop">Why Attend</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="videos" comment="event_nav" text="Videos"><span data-til="noop">Videos</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="partners" comment="event_nav" text="Partners"><span data-til="noop">Partners</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="contactus" comment="event_nav" text="Contact us"><span data-til="noop">Contact us</span></cmsannotation></li><li><cmsannotation type="cmsannotation" annotationid="insights" comment="event_nav" text="Insights"><span data-til="noop">Insights</span></cmsannotation></li></ul><cmsannotation type="cmsannotation" annotationid="video" comment="top_panel" text="https://slike-i.akamaized.net/3q/m9/3n3qm9l66u/720p_1600.mp4"><span data-til="noop">https://slike-i.akamaized.net/3q/m9/3n3qm9l66u/720p_1600.mp4</span></cmsannotation><br /><cmsannotation type="cmsannotation" annotationid="About the Summit" comment="about_title" text="About the Summit"><span data-til="noop">About the Summit</span></cmsannotation><br /><cmsannotation type="cmsannotation" annotationid="Description" comment="about_desc" text="Micro, small, and medium enterprises (MSMEs) are a critical cog of the Indian economy, and have steadily marked their path to recovery post-pandemic. While a lot can be attributed to the government’s policy push and innovative financing solutions, technology and the rise of social commerce has been the real game-changer – helping them resolve issues, discover new markets, deal with regulatory compliances and navigate logistical challenges to drive meaningful business growth.India’s journey towards a five trillion economy is going to be powered by these engines of innovation! At BI India, we seek to highlight not just the potential, but the need for renewed thinking to supercharge the country’s MSME sector. Spread over two days in January, MSME Exchange aims to provide a platform for businesses, regulators, industry leaders, experts to come together and share ideas, talk about challenges and solutions that will transform the MSME sector for decades to come."><span data-til="noop">Micro, small, and medium enterprises (MSMEs) are a critical cog of the Indian economy, and have steadily marked their path to recovery post-pandemic. While a lot can be attributed to the government’s policy push and innovative financing solutions, technology and the rise of social commerce has been the real game-changer – helping them resolve issues, discover new markets, deal with regulatory compliances and navigate logistical challenges to drive meaningful business growth.<br />India’s journey towards a five trillion economy is going to be powered by these engines of innovation! At BI India, we seek to highlight not just the potential, but the need for renewed thinking to supercharge the country’s <keyword id="6358354" type="General" weightage="20" keywordseo="MSME" source="Orion">MSME</keyword> sector. Spread over two days in January, <keyword id="4106334" type="General" weightage="100" keywordseo="msme-exchange" source="Orion">MSME Exchange</keyword> aims to provide a platform for businesses, regulators, industry leaders, experts to come together and share ideas, talk about challenges and solutions that will transform the MSME sector for decades to come.</span></cmsannotation><br /><br /><cmsannotation type="cmsannotation" annotationid="who_all_attend" comment="wwa_title" text="Who will attend"><span data-til="noop">Who will attend</span></cmsannotation><br /><ol><li>              <div type="image" title="Government ministers, industry bodies and policy makers, leaders from finance and tech institutions" msid="100847530" hostid="261"></div></li><li>            <div type="image" title="Business leaders, owners and promoters across MSME sectors" msid="100847513" hostid="261"></div></li><li>            <div type="image" title="MSME champions &amp;amp; stars in the making - startups, innovators and entrepreneurs" msid="100847589" hostid="261"></div></li><li>            <div type="image" title="MSME champions &amp;amp; stars in the making - startups, innovators and entrepreneurs" msid="100847655" hostid="261"></div><br /></li><li><div type="image" title="ABCD" msid="101166861" hostid="261" sizebytes="108450"></div></li></ol><cmsannotation type="cmsannotation" annotationid="Themes" comment="themes_title" text="Themes"><span data-til="noop">Themes</span></cmsannotation><br /><table class="redcator-table-advance"><tbody><tr><td>Policy</td><td>Fostering MSMEs</td><td><ol><li>Fostering MSMEs small businesses are the growth engine for India’s economy.</li><li>Recent policy measures have made it easier for these enterprises to not just grow, but thrive.</li><li>We shine the spotlight on the thinking for the next decade - what needs to be done to achieve government’s $5 trillions dream.</li></ol></td></tr><tr><td>Finance</td><td>Need for Innovative Financing</td><td><ol><li>Expensive access to capital remains a major challenge for MSMEs</li><li>How can small businesses overcome this hurdle?</li><li> We discuss initiatives and solutions to solve the most critical need of the sector - funding!</li></ol></td></tr><tr><td>Technology</td><td>Braving the digital world</td><td><ol><li>Is digital transformation the answer to challenges faced by small businesses?</li><li>How can MSMEs transform and grow more?</li><li>Hear from the best in business about tech solutions for empowering and building a competitive MSME landscape</li></ol></td></tr><tr><td>Marketing</td><td>Brand Building for SMEs</td><td><ol><li>Is digital transformation the answer to challenges faced by small businesses?</li><li>How can MSMEs transform and grow more?</li><li>Hear from the best in business about tech solutions for empowering and building a competitive MSME landscape</li></ol></td></tr><tr><td>Policy</td><td>Unlocking MSMEs Potential</td><td><ol><li>Is digital transformation the answer to challenges faced by small businesses?</li><li>How can MSMEs transform and grow more?</li><li>Hear from the best in business about tech solutions for empowering and building a competitive MSME landscape</li></ol></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br /><div type="embedgroup"><title>Videos</title> <div type="Youtube" id="X4YJlFWiWQI" title="Empowering Women-Led MSMEs" thumbUrl="https://i.ytimg.com/vi/X4YJlFWiWQI/mqdefault.jpg"></div><payload><![CDATA[videos_top]]></payload></div><br /><div type="embedgroup"><title>Videos</title> <div type="Youtube" id="W-ZBi_vVA-g" title="Promoting MSME Growth And Ease Of Doing Business" thumbUrl="https://i.ytimg.com/vi/W-ZBi_vVA-g/mqdefault.jpg"></div> <div type="Youtube" id="7q1LidC8UcE" title="Beyond The BoardRoom with Anish Tawakley" thumbUrl="https://i.ytimg.com/vi/7q1LidC8UcE/mqdefault.jpg"></div> <div type="Youtube" id="tWROVASCMoI" title="Empowering Small Businesses (MSMEs &amp;amp;amp; Sustainability)" thumbUrl="https://i.ytimg.com/vi/tWROVASCMoI/mqdefault.jpg"></div> <div type="Youtube" id="R2Dkr8KoOew" title="Tech Solutions Solving For MSME Problems" thumbUrl="https://i.ytimg.com/vi/R2Dkr8KoOew/mqdefault.jpg"></div> <div type="Youtube" id="iZAUFoKjkPc" title="MSMEs: The Backbone Of Indian Economy" thumbUrl="https://i.ytimg.com/vi/iZAUFoKjkPc/mqdefault.jpg"></div> <div type="Youtube" id="X4YJlFWiWQI" title="Empowering Women-Led MSMEs" thumbUrl="https://i.ytimg.com/vi/X4YJlFWiWQI/mqdefault.jpg"></div><payload><![CDATA[videos_list]]></payload></div><br /><bulletContentEmbed name="Our Partners" columns="1"><bulletContentHeading name="Our Partners_head"></columnHeadThumb>Our Partners</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Our Partners_body"><bulletContentRow name="Our Partners_9112182092463035"><bulletContentRowHeading><bulletContentRowHead col="1">Community Partners</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><div type="image" title="NASSCOM" msid="100844386" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://www.businessinsider.in/msme-exchange-2023&amp;quot;&amp;gt;NASSCOM&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div><br />                              <div type="image" title="BSE" msid="100844419" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://www.bseindia.com/&amp;quot; target=&amp;quot;_blank&amp;quot;&amp;gt;BSE&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div><br />                              <div type="image" title="BNI" msid="100844462" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://www.bni.com/&amp;quot; target=&amp;quot;_blank&amp;quot;&amp;gt;BNI&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div>                              <div type="image" title="Book My Show" msid="100844481" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://in.bookmyshow.com/&amp;quot; target=&amp;quot;_blank&amp;quot;&amp;gt;BookMyShow&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div></bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="Our Partners_4392347801648051"><bulletContentRowHeading><bulletContentRowHead col="1">Knowledge Partners</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><div type="image" title="NASSCOM" msid="100844386" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://www.businessinsider.in/msme-exchange-2023&amp;quot;&amp;gt;NASSCOM&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div><br />                              <div type="image" title="BSE" msid="100844419" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://www.bseindia.com/&amp;quot; target=&amp;quot;_blank&amp;quot;&amp;gt;BSE&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div><br />                              <div type="image" title="BNI" msid="100844462" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://www.bni.com/&amp;quot; target=&amp;quot;_blank&amp;quot;&amp;gt;BNI&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div>                              <div type="image" title="Book My Show" msid="100844481" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;a href=&amp;quot;https://in.bookmyshow.com/&amp;quot; target=&amp;quot;_blank&amp;quot;&amp;gt;BookMyShow&amp;lt;/a&amp;gt;&amp;lt;/p&amp;gt;"></div></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[partners]]></payload></bulletContentEmbed><br /><div type="embedgroup"><title>Agenda</title> <div type="Article" hostid="261" msid="100132907" title="Day 1, January 18, 2023" rank="1.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="100478979" title="Day 2,  January 19, 2023" rank="2.0" mstype="2" mssubtype="0"></div><payload><![CDATA[agenda]]></payload></div><br /><br /><div type="embedgroup"><title>Why Attend</title> <div type="image" title="Listen, learn from the brightest minds working to find real life solutions – the thinking that we need to supercharge the backbone of India’s economy - MSMEs" rank="1.0" mstype="3" mssubtype="0" msid="100154004" hostid="261"></div> <div type="image" title="Engage with expert speakers, industry captains, lenders, entrepreneurs and gain insights into their journeys and the road ahead" rank="2.0" mstype="3" mssubtype="0" msid="100153996" hostid="261"></div> <div type="image" title="Listen, learn from the brightest minds working to find real life solutions – the thinking that we need to supercharge the backbone of India’s economy - MSMEs" rank="3.0" mstype="3" mssubtype="0" msid="100153980" hostid="261"></div><payload><![CDATA[why_attend]]></payload></div><br /><br /><br /><br /><bulletContentEmbed name="Become a partner" columns="1"><bulletContentHeading name="Become a partner_head"></columnHeadThumb>Contact Us</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="Become a partner_body"><bulletContentRow name="Become a partner_5009022282610344"><bulletContentRowHeading><bulletContentRowHead col="1">Become a Partner</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1"><strong>Maninder Kumar - Head, Brand Partnerships<br /></strong><a href="mailto:maninder@businessinsider.in"><strong>Maninder Kumar</strong></a></bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody><payload><![CDATA[contactus]]></payload></bulletContentEmbed><br /><div type="embedgroup"><title>Previous Edition Speakers</title> <div type="image" title="Anjali Byce" rank="1.0" mstype="3" mssubtype="0" msid="100270113" hostid="261"></div> <div type="image" title="Karan Virwani" rank="2.0" mstype="3" mssubtype="0" msid="100270087" hostid="261"></div> <div type="image" title="Anurag Malik" rank="3.0" mstype="3" mssubtype="0" msid="100269915" hostid="261"></div> <div type="image" title="Varun Duggirala" rank="4.0" mstype="3" mssubtype="0" msid="100269900" hostid="261"></div> <div type="image" title="Anjali Byce" rank="5.0" mstype="3" mssubtype="0" msid="100269887" hostid="261"></div> <div type="image" title="Karan Virwani" rank="6.0" mstype="3" mssubtype="0" msid="100269868" hostid="261"></div> <div type="image" title="Karishma Mehta" rank="7.0" mstype="3" mssubtype="0" msid="100269837" hostid="261"></div> <div type="image" title="Anurag Malik" rank="8.0" mstype="3" mssubtype="0" msid="100269570" hostid="261"></div> <div type="image" title="Dr Marcus Ranney" rank="9.0" mstype="3" mssubtype="0" msid="100269555" hostid="261"></div><payload><![CDATA[past_speakers]]></payload></div><br /><div type="embedgroup"><title>Insights</title> <div type="Slideshow" msid="100267652" hostid="261" title="Oppo F23 5G vs OnePlus Nord CE 3 Lite – which is a better phone under ₹25,000?" rank="1.0" mstype="8" mssubtype="0"></div> <div type="Slideshow" msid="74956107" hostid="261" title="100 online courses from Coursera are $0 now through May 31 - here&amp;#39;s a list of all the classes open for free enrollment" rank="2.0" mstype="8" mssubtype="0"></div> <div type="Article" hostid="261" msid="94960866" title="Maggi maker Nestlé India’s net profit grows 8.3% to ₹668 crore in Q2" rank="3.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="96956814" title="Nifty50 set to clock 10% increase in profit in Q3; banks likely to outperform" rank="4.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="100278747" title="IndianOil posts 69% drop in its standalone net profit for 2022-23" rank="5.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="70638299" title="Mukesh Ambani&amp;amp;#39;s speech at the Reliance Industries AGM had ten big takeaways" rank="6.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="100275046" title="Here’s a diesel variant that can not only save ₹1 lakh a year but can also help clean your engine" rank="7.0" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="100273939" title="Jio-bp joint venture launches additive-laced premium diesel" rank="8.0" mstype="2" mssubtype="0"></div><payload><![CDATA[insights]]></payload></div><br />

MSME Exchange 2023

<cmsannotation type="cmsannotation" annotationid="Who will attend" comment="black_heading" text="Who will attend"><span data-til="noop">Who will attend</span></cmsannotation><br /><ol><li>Business leaders, owners and promoters across MSME sectors</li><li>Government ministers, industry bodies and policy makers, leaders from finance and tech institutions</li><li>MSME investors, venture capitalists, leaders from financial institutions, think tanks and consultants</li><li>MSME champions &amp; stars in the making - startups, innovators and entrepreneurs</li></ol><br />

Who will attend

The <keyword id="4106334" type="General" weightage="20" keywordseo="msme-exchange" source="Orion">MSME Exchange</keyword> is back with a bang! Business Insider India has worked all year to line up the best speakers from around the country to curate the best summit experience for you. The third season of The <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword> Exchange 2023 decodes India's progress toward a five trillion dollar economy. And the topics shortlisted for this year will address all things MSME--the past, the present and the future--over a span of two days.<br /><br />Top industry leaders , investors, government officials, policymakers, and representatives from the financial and tech sectors will be present at the MSME Exchange. The speakers will impart inspirational speeches, motivating insights, and business-related teachings. MSME Exchange 2023 intends to offer a venue for companies, regulators, business leaders, and experts to interact, share ideas, and discuss problems and potential solutions that will influence the MSME sector for decades to come.<br /><br />This exchange is expected to bring in all the news, stories, anecdotes, knowledge, information and wisdom from India’s small and medium businesses and educate us about the on-ground realities and challenges they faced as they built successful enterprises. Held on January 18–19, 2023, this virtual summit will focus on celebrating the thriving stories of small and medium enterprises and discussing the way forward.<br /><strong>[Register here: <a href="https://www.businessinsider.in/msme-exchange-2023">https://www.businessinsider.in/msme-exchange-2023</a>]</strong><br />These speakers are the heart and soul of the Summit experience. Get ready for inspiration like you've never seen before from some of the top industry stakeholders: <br /><br /><ul><li>Rajnish Kumar, Former Chairman of SBI &amp; Chairman, BharatPe<br /></li><li>T Koshy, CEO, ONDC<br /></li><li>Ankur Warikoo, Entrepreneur, Educator &amp; Content Creator<br /></li><li>Bharat Sethi, Founder &amp; CEO, Rage Coffee<br /></li><li>Sivasubramanian Ramann, Chairman, SIDBI<br /></li><li>Archana Vohra- Director, Small and Medium Business (India), Meta<br /></li><li>Ajay Thakur, Head - Bombay Stock Exchange SME &amp; Startups<br /></li></ul>Find all the answers you need to build a successful <keyword id="6359222" type="General" weightage="20" keywordseo="small-business" source="Orion">small business</keyword> -<br /><ol><li>The policies set in place to foster MSMEs</li><li>The need for innovative financing</li><li>The perks of digital transformation</li><li>The need for branding and ways those brands can become success stories</li></ol>This isn’t your typical, boring conference. It is your chance to reach your ultimate potential, strengthen your purpose and leave with a new passion to take on your dreams and goals.<br /><br />Join us in this virtual event by registering at the link here: <a href="https://www.businessinsider.in/msme-exchange-2023">https://www.businessinsider.in/msme-exchange-2023</a><br />

One week to go! The MSME Exchange 2023: Bigger and better

MSMEs lie at the heart of India Inc and play an integral part in our <keyword id="47276" type="General" weightage="20" keywordseo="economic-growth" source="Orion">economic growth</keyword>. In the recent few years, we have seen small businesses stay resilient in the face of a pandemic, thanks to the government’s policy push and initiatives. Over the last two decades, the government has come up with several regulatory measures to make it easier for these enterprises to not just grow but thrive. The <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword>D Act of 2006 has been modified suitably in 2020 to take into account the changed market realities and the growing importance of these manufacturing and services companies. But there is no denying that technological progress, innovative financing solutions and the rise of social commerce have altered the MSME landscape.<br /><br />While the policy push has certainly helped the sector and its entities when it comes to innovative financing solutions for these entities, a real game changer has been technology and e-commerce platforms that have helped resolve many of the issues faced by these entities to discover new markets, deal with regulatory compliances and navigate logistics issues such that they can focus only on their business growth. India’s journey towards a five trillion economy is going to be powered by many small, micro and medium enterprises who now have the runway to take flight and big tech partners that are wind beneath their wings.<br /><br />At Business Insider India, we are back with the third edition of <keyword id="4106334" type="General" weightage="20" keywordseo="msme-exchange" source="Orion">MSME Exchange</keyword> – India’s leading MSME summit, powered by our knowledge partners NASSCOM &amp; BSE SME Council. Spread over two days in January (18-19), this summit aims to provide a platform for businesses, regulators, industry leaders, experts to come together and share ideas, explore critical issues and bring to light solutions that will transform the sector for the decades to come. <br /><br /><strong>[Register here: </strong><a href="https://www.businessinsider.in/msme-exchange-2023">https://www.businessinsider.in/msme-exchange-2023</a><strong>]</strong> <br /><br />Be it a story of a reseller on a social commerce platform or a seller on the world’s largest online retailer who built his export business from nothing, we seek to bring the stories of these small champions and shine the spotlight on all that has been done and needs to be done to achieve the government’s target of achieving $1 trillion in exports through India’s MSMEs. <br /><br />Core pillars that form the crux of this event – policy, finance, technology, social e-commerce and marketing – the fundamental need for any <keyword id="6359222" type="General" weightage="20" keywordseo="small-business" source="Orion">small business</keyword> to foster sustainable growth in the sector. The virtual event will be attended by policy makers, entrepreneurs, MSME champions, investors and business leaders.<br /><br /><strong>Speakers include:</strong><br /><ul><li>Rajnish Kumar, Former SBI Chairman</li><li>Ankur Warikoo, Educator &amp; Content Creator; Co-founder &amp; Board member, Nearbuy</li><li>Bharat Sethi, Founder &amp; CEO, Rage Coffee</li><li>T Koshy, CEO, ONDC</li><li>Anil Bhardwaj, Secy General, FISME</li><li>Ajay Thakur, Head - BSE SME &amp; Startups</li><li>Kishor Kharat, Former MD &amp; CEO at Indian Bank and IDBI Bank</li><li>Jinand Shah, MD, Online PSB Loans</li><li>Vipul Sharma, Founder &amp; CEO, Chqbook</li></ul><strong>Register here now to stay updated about the event details:</strong> <a href="https://www.businessinsider.in/msme-exchange-2023"><strong>https://www.businessinsider.in/msme-exchange-2023</strong></a>

Small businesses, big ideas: MSME Exchange is back with its third edition

MSME Exchange 2021: Tech for all

<ul><li><keyword id="8188441" type="General" weightage="20" keywordseo="u-gro" source="Orion">U GRO</keyword> Capital is looking to disburse loans worth ₹2,000 crore by March 2023 with their new alliance with <keyword id="14257101" type="General" weightage="20" keywordseo="yubi" source="Orion">Yubi</keyword>.</li><li>Separately, the company has an off-book asset under management (AUM) of ₹3,600 crore that they plan to double in the same time frame.</li><li>The lender believes that the alliance would make their partnership with banks much simpler.</li></ul>Lending company U GRO Capital on Wednesday announced a strategic alliance with debt marketplace Yubi (formerly known as CredAvenue) in an attempt to give out small business loans worth ₹2,000 crore to MSMEs by the end of this fiscal year. Separately, the company has an off-book asset under management (AUM) of ₹3,600 crore that they plan to double in the same time frame.<br /><br />The strategic alliance comes with two partnership deals to achieve this target set for the deal. First, between the companies’ co-lending platforms Yubi-Co.Lend and GRO-Xstream. Second, between Yubi's supply chain financing vertical Yubi Flow and U GRO’s offer for end retailers GRO-Line.<br /><br />Shachindra Nath, vice chairperson and managing director of U GRO Capital, in a conversation with Business Insider India noted that Yubi is building a market infrastructure, where they are integrating multiple banks and lenders together to make the co-lending process smoother. <br /><br />He noted that this integration would allow lenders like U GRO to directly transfer all major data of the customer to the co-lending banks, digitizing the entire process.<br /><br />This partnership would actually allow the lending company to enhance their existing co-lending partnership with banks, he added.<br /><br />“Today if I am doing ₹50 crore co-lending with a particular bank. Increasing from ₹50 crore to ₹100 crore is very difficult because banks have to put more people in and we have to put more people in between… If your bank is taking two hours or three hours to process a particular loan case, it will [now] only take five minutes,” Nath added. <br /><br /><cmsannotation type="cmsannotation" annotationid="The Yubi partnership can help U GRO enhance its co-lending partnerships" comment="subhead" text="The Yubi partnership can help U GRO enhance its co-lending partnerships"><span data-til="noop">The Yubi partnership can help U GRO enhance its co-lending partnerships</span></cmsannotation><br /><br />Notably, a co-lending arrangement usually involves two entities — a non-banking finance company (NBFC) and a bank. The NBFC is the front for underwriting a loan, but a majority of that loan is actually facilitated by large financial institutions like a traditional bank. <br /><br />In this case, U GRO being an NBFC, onboards small business owners as borrowers based on several metrics. The company itself only finances 20% of the loan amount, while the rest is financed by traditional banks like State Bank of India and Yes Bank. Any profit, interest or loss is incurred by these two entities in the 20:80 ratio. <br /><br />“It is only 20% of the loan on my (U GRO’s) book. The balance is gone to SBI or any other partner bank, but U GRO would service that loan for the next five-six years. Customer is unimpacted,” Nath explained, emphasizing that this model is globally known as Lending-as-a-Service (LaaS).<br /><br />Nath noted that they are underwriting loans through their tech platform that majorly runs on data points with less human intervention. The banks, on the other hand, access the same loan manually which requires a lot of manpower and time. Therefore, the integration with a tech platform like Yubi would enable their banks to access these loans much faster with the same capacity. <br /><br />“We, at Yubi, are working towards accelerating financial inclusion in the country through a technology-driven credit infrastructure that powers discovery, execution and fulfillment. We are elated to partner with U GRO Capital with a shared vision to bridge the <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword> credit gap in India by providing credit access to the unserved and underserved sectors in the country,” Gaurav Kumar, founder and CEO of Yubi, said in a statement. <br /><br /><strong>SEE ALSO</strong><br /><a href="https://www.businessinsider.in/finance/news/the-worst-of-the-rupees-decline-might-be-over-as-market-expects-us-fed-to-dial-down-pace-of-hikes/articleshow/93290895.cms">The worst of the rupee's decline might be over as market expects US Fed to dial down pace of hikes</a><br /><a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/markets-on-a-wait-and-watch-mode-as-they-await-cues-from-rbi/articleshow/93290015.cms">Markets on a wait and watch mode as they await cues from RBI</a><br /><a href="https://www.businessinsider.in/business/auto/news/as-new-cars-get-pricier-pre-owned-bmws-audis-and-porsches-get-more-attractive/articleshow/93275786.cms">As new cars get pricier, pre-owned BMWs, Audis and Porsches get more attractive</a><br />

This startup is building infrastructure to automate and ease the process of giving out small biz loans

It is widely acknowledged that the micro, small and medium enterprises (<keyword id="6358354" type="General" weightage="20" keywordseo="MSME" source="Orion">MSME</keyword>) sector has become the central nerve of <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>’s economy in these past few decades. The glaring asymmetry between the MSMEs that require credit and those that receive it has also not gone unnoticed. NBFCs have become a pivotal part of the mechanism in closing this gap, by widening the reach of financial services thereby enhancing MSMEs’ resilience.<br /><br />NBFCs are slowly but surely gaining a foothold in the Indian financial system. They are the <a href="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/01AR101017F2969F6115EB4B5992BD73976F9A905D.PDF">biggest</a> receivers of funds on a net basis, even surpassing banks. The double-digit growth in credit that NBFCs accomplished while banks were facing a decline in credit as a result of asset quality stress, should be an indicator of their central role as credit providers in India’s financial system. Within the MSME lending segment, NBFCs have <a href="https://www.statista.com/statistics/1243029/india-market-share-of-lenders-for-msme/">witnessed</a> a stable 13% market share (as of 2020). NBFCs are increasingly preferred by borrowers owing to their increased ability to reach remote areas and in making quicker decisions, providing prompt services and having expertise in niche segments.<br /><br />According to the <keyword id="247408" type="General" weightage="80" keywordseo="world-bank-programme" source="Orion">World Bank Programme</keyword> <a href="https://www.financialexpress.com/budget/msme-eodb-budget-2022-rs-6000-crore-ramp-programme-for-msmes-to-be-rolled-out-in-five-years-says-fm-sitharaman/2422280/">appraisal</a> document for the Raising and Accelerating MSME Performance (RAMP) programme, over 40% of MSMEs lack access to formal sources of finance. As a result of lacking proper accounting systems, updated financials, and proper documentation, a large number of MSMEs borrowers are excluded from the traditional lending ecosystem. From the perspective of larger lenders, thin-file customers often require a greater degree of support and hand-holding. This combination of smaller ticket size geographical dispersion of such MSMEs makes it economically not viable to serve these markets.<br /><br />For India to step confidently into the future, servicing the credit needs of India's 60 million MSMEs without any access to formal credit is paramount. Digitally-led NBFCs remain key in this mission as in their case. They are expanding access to credit through credit models like the cash flow based model. This makes such NBFCs the go-to lenders for borrowers who have the means but are disqualified as per the traditional credit assessment process. There is an evolution of partnership models between NBFCs leveraging their distribution strength and superior customer underwriting with larger banks that have cheaper capital and better risk management processes. Such access to credit is further augmented by digital lenders that have built efficient and scalable outreach to credit-starved MSMEs. The data driven credit models such digital lenders use allow better risk calibration. This is demonstrated by the improving credit performance of these lenders after the Covid-induced stress.<br /><cmsannotation type="cmsannotation" annotationid="Online NBFCs and digital SME lending: Key step towards universal credit access" comment="subhead" text="Online NBFCs and digital SME lending: Key step towards universal credit access"><span data-til="noop">Online NBFCs and digital SME lending: Key step towards universal credit access</span></cmsannotation><br />Online NBFCs are taking this aim of reach and access one step ahead through tech-enabled solutions. They have widened the scope of what credit could be, and enabled the reach of credit to underserved customers across different parts of the country. Leveraging alternate data sets, innovative approaches to credit underwriting and offering customised products with a lower turn-around time have also made digital lenders more suitable in enabling access to credit to the MSME borrowers. They are displaying a new confidence in lending to small businesses through varied approaches. One such approach is ‘ecosystem-based lending’. Accessing business loans that are digitised end-to-end is logistically easier for MSMEs that are in tier 3 &amp; 4 cities and may not have the same bank branch options that bigger cities do. The ecosystem based approach to lending involves partnering with digital ecosystems such as Amazon, Google Pay, Zomato and leveraging the information about the MSMEs available with these technology platforms. The approach also allows usage of segment-specific indicators around revenue, customer ratings/reviews, and transaction business volume to arrive at a composite credit model.<br /><br />Thus, proprietors in small towns can seamlessly access credit that was previously available to them in only physical bank branches that are flush with liquidity but inaccessible to MSME borrowers. This access has further been enhanced through solutions like E-NACH, CKYC/OKYC, E-Sign, Video Sign. The alternate data sets digital lenders use for credit modelling sidestep the need for collateral and documentation that many MSMEs may not have. This is how an ‘ecosystem-based’ approach to lending takes accessibility one step further.<br /><br />There is still much distance to be covered in terms of completely closing the MSME <keyword id="7804914" type="General" weightage="20" keywordseo="Credit-gap" source="Orion">credit gap</keyword>. The onus falls on start-ups and the innovation ecosystem to create digital tools and strategies that leverage MSMEs digital footprints and ecosystems. Regardless, in terms of reaching the fringes of the financial system, NBFCS (both online and offline) are rightfully giving credit where credit is due. <br /><br /><em><strong>The author is the founder and chief executive officer (CEO) of online lending firm </strong></em><em><strong>Indifi Technologies.<br /></strong></em><br /><strong><em>Disclaimer: The opinions expressed are of the author and do not necessarily reflect the views of the Business Insider India.</em></strong><br />

OPINION: Why NBFCs remain key to closing the MSME credit gap

<ul><li>The Government of <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> is working on an initiative to <keyword id="11536969" type="UNKNOWN" weightage="20" keywordseo="reduce-compliance">reduce compliance</keyword> burden on MSMEs across states.</li><li>Jayesh Ranjan, Principal Sec., I&amp;C and IT Depts, <keyword id="68884" type="LOCATION" weightage="20" keywordseo="Telangana">Telangana</keyword> government highlights Telangana ranks third in Ease of Doing Business ranking in the country.</li><li>With the help of government initiative, Punjab has already removed 493 compliances in one day.</li></ul>In March 2021, while addressing a webinar on the production linked incentives (PLI) scheme through video conferencing, Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> said, ”Our effort is to reduce 6,000 compliances burden on entities at the state and central level to boost domestic manufacturing.” <br /><br />Human resources firm <keyword id="133742" type="COMPANY" weightage="20" keywordseo="TeamLease">Teamlease</keyword>, which is consulting the government of India as well as states in this project, said that Punjab and Telangana have made some good progress in this regard.<br /><br />“The government is undertaking a massive exercise to reduce compliance burden on MSMEs. It has engaged Teamlease to study laws under which compliance has to be carried out by companies. Some of the laws are really outdated. In fact, this issue has been raised in front of the Prime Minister as well,” said Jayesh Ranjan, the information technology (IT) secretary of Telangana, while speaking at Business Insider’s MSME Exchange, a virtual event dedicated to small businesses.<br /><br />Overall, the Teamlease team has identified over 69,233 compliances active in the country from which 43,696. Further, there are 1,536 acts and 6,618 filings active in the country for businesses. <br /><br />Teamlease is working with 29 states, out of which only Punjab has been able to execute some reduction in compliances. It has removed 493 compliances in one day. Next state that will execute some reduction in compliances is expected to be Telangana. <br /><br />For most businesses, labour laws constitute more than half of the compliance burden. Labour laws are a set of compliances that set the tone for the treatment of the labour force in the workplace like child labour laws. Non-compliance with the laws can lead to punitive action towards the company. <br /><br />Let’s look into sector-wise classification in compliances:<br /><br /><br /><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sector<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Acts<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Compliances<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Filings<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Industry specific<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">484<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">17,966<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1,262<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Labour<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">463<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">35,542<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3,048<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Commercial<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">189<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6,928<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">472<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Finance &amp; Taxation<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">116<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3,284<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">990<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">General<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">109<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2,065<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">122<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Environment, Health &amp; Safety<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">107<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2,922<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">231<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Secretarial<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">68<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3,526<br /><br /></td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">493<br /><br /></td></tr></tbody></table><br /> <br />Manish Sabharwal, chairman of TeamLease, said the team has been working with 29 states at a time to help them understand and reduce compliance. “The first state to actually cut down on compliance is Punjab who has removed 493 compliances in one day. And another state will be Telangana,” said Sabharwal. <br /><br />Rishi <keyword id="12857" type="COMPANY" weightage="20" keywordseo="Agrawal">Agrawal</keyword>, chief executive officer (CEO) of Avantis Regtech – a TeamLease group company explains the compliance struggle for the MSME industry:<br /><br /><ul><li>A typical MSME with more than 150 employees deals with 500-900 compliances in a year. With this, they end up spending around 80,000 to 1 lakh in a month and about 12-18 lakhs in a year just on filing several compliances like with labour laws, tax consultant and so on.</li><li>To help you with these compliances, a consultant will charge around ₹35,000 (differing as per the state and complexity of the filings).</li><li>Besides, there is hardly any digitisation in terms of filing compliances.</li><li>In addition to it, MSMEs witness sudden visits from inspection authorities which is a time consuming process. </li><li>Talking about compliances required to open a factory, Agrawal says one needs about 4,000 pages of non-objection certificates (<keyword id="48949" type="COMPANY" weightage="20" keywordseo="NOC">NOC</keyword>) and filings. </li></ul>Due to the pandemic, the process had been stalled, but sooner the states execute these recommendations, the better for businesses. <br /><br />See Also - <br /><strong><a href="https://www.businessinsider.in/tech/apps/news/one-year-of-chinese-apps-ban-indian-alternatives-take-over-tiktok/articleshow/83943865.cms">https://www.businessinsider.in/tech/apps/news/one-year-of-chinese-apps-ban-indian-alternatives-take-over-tiktok/articleshow/83943865.cms</a> <br /><a href="https://www.businessinsider.in/stock-market/news/kims-ipo-listed-in-stock-market-at-over-20-premium/articleshow/83912694.cms">KIMS IPO: Stock listed at over 20% premium, loses initial gains after soaring to ₹1059 per share</a><br /></strong><br /><br /><br /><br />

Teamlease reveals that some states in India are moving faster than others in trying to remove archaic laws

New Delhi, May 11 () The MSME Ministry on Monday said its three technology centres are producing critical parts of machines which give test results of COVID-19 in less than one hour.<p>The centres of Bhubaneshwar, Jamshedpur and Kolkata are manufacturing critical parts of Real Time Quantitative Micro PCR System for AMTZ, Vishakhapatnam, a machine that can give COVID 19 test results in less than 1 hour. </p><p> Normally test result takes minimum 24 hours.</p><p>"These machines are compact and may be taken for testing Anywhere, Anytime, Real-time. The teams of the Technology Centers are working in 2/3 shifts to supply components for 600 Testing machines," an official statement said. </p> As many as 150 Testing Machine components have already been supplied to AMTZ. The stainless steel components having an accuracy of 5 micron are being manufactured on the best machines of the world, the statement added.  RSN  MRMR

MSME Ministry tech centres manufacturing critical parts of COVID-19 test machine

The world loves jargon. In this case, it’s the latest one and much touted new kid on the block in the lending segment -- ‘Buy Now Pay Later’ (<keyword id="9522245" type="General" weightage="80" keywordseo="bnpl" source="Orion">BNPL</keyword>). It sure is not a coincidence that almost every Indian business media has written about this topic in the past few weeks, accelerated by the PR [public relations] blitzkrieg of the lending players, and some of their (potential) advertising spends being a motivator too.<br /><br />Is BNPL much ado about nothing ? Is this lending practice contemporary or is it just the newly coined terminology ? Isn’t the practice the same as the credit system we saw even as early as a few decades ago; the one that our old-fashioned uneducated mom-n-pop kirana store owner gave us as an option -- to buy through the month, and pay as a lump sum later in the subsequent month? His cost of such funding-the-customer was built into expenses (from his sales margins). He did not have any calculator or computer to store CRM [customer relationship management] or any customer database. The only cloud he knew and that existed then was the one above in the skies. There were not even landlines available (easily), let alone the PoS [point of sale] solutions. And more importantly, his customers rarely defaulted in repayments.<br /><br />So why is this sudden chatter about BNPL now? Why is so much private-capital chasing fintech BNPL players globally? Why are the banks, which loved their own credit cards, suddenly pushing for BNPL products too? Why is merchant acquisition becoming the hottest skill in the financial services sector?<br /><br />For a country with over 1.3 billion population, there are only 30 million unique credit card holders in <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> (about 3% of total banked population). This huge gap is the actual business opportunity to provide BNPL solutions for various consumer segments. More importantly, the younger consumers seem to prefer BNPL, instead of credit cards (their high interest charges are seen as a deterrent). It’s then no-guess why apart from the purely digitally-led fintech players in India, traditional banks too have entered this vertical.<br /><br />The success of BNPL in the Indian context can be attributed to the fact that it offers formal credit in an easy-to-access way. It is also known as point-of-sale loans. In general, the retailer/merchant pays the BNPL provider a low single-digit percentage of the transaction value. This is equally a product promotion push to increase revenues. The banks and highly-funded fintechs have an advantage with cost of funding, while the banks have that historic funding-cost-advantage, techfins and fintechs (which have large capital to sign off) use the might of their large capital to acquire consumers; and to change consumer behaviour over a long period of time, by using their capital, even if debt markets are as shallow and as conflicted as our market (structurally in absence of deep domestic debt market, banks being a large proportion lender as well as provider of debt to non-banks is the conflict of interest). Hopefully the regulator would indicate their view on this subject, just to align the industry players in terms of regulatory thinking, before this segment grows fast, so that any business model steering could be done by the industry in time, saving precious capital, consumption trends and regulatory worries, if any.<br /><br /><strong>Can BNPL be inclusive ?</strong><br /><br />With more keypad literate Indians than literate Indians now, wide availability of mobile services along the length and breadth of the country and lower-priced internet access, digital finance has never looked better before. The pioneering efforts by India with its <keyword id="6367533" type="General" weightage="20" keywordseo="jam" source="Orion">JAM</keyword> trinity [JanDhan-Aadhaar-Mobile] to bring banking access with secured identity and digital to every citizen is a global first. The initiatives such as ‘Digital India’, ‘Make in India’, ‘Startup India’ have inspired many youngsters to develop innovative ideas to solve real-life-consumer-issues. <br /><br />The basics of financial inclusion is to make sure that the consumers have access and choice of products that suit their needs. The brick and mortar distribution of conventional finance has not reached the nook and corner of the country. Digital channels have started making access to finance, especially credit, as easy as searching for something on Google and language no bar. The COVID lockdown fast-paced the digital adoption in almost all consumer segments, including those who were not digitally-led before. Online banking, app usage, and online commerce increased at a rapid pace. Many of these consumer behaviour would have become a habit and won’t make consumers go back to non-digital pre-covid behaviour. All these also helped in the BNPL growth in the past few months, spurred by a plethora of merchant offers across product categories.<br /><br />The larger opportunity set could be using BNPL products for livelihood-enhancing business-productivity needs. This could mean looking at business users like the gig economy and small and medium-sized enterprises (SMEs) stakeholders. Will we see lending players offering BNPL to <keyword id="12386350" type="General" weightage="20" keywordseo="sme-/-msme-/-psl" source="Orion">SME / MSME / PSL</keyword> segments with a win-win proposition ?<br /><br /><strong>It is only about “ity”s</strong> <br /><br />If extending credit is filtered on the basis of consumption, the risk parameters and its consequent lending would differ. Consumption itself is not a bad aspect. Responsible consumption is an ideal expectation from lenders. But lenders can’t judge consumer behaviour, but can very well decide if they want to lend to such consumers’ consumption patterns.<br /><br /><ul><li>Vanity consumption : Financing done for products bought or services used to give instant gratification. (Eg: Botox facial uplift treatment, bridal makeup. ) The challenge for this category of purchase is that the end-use is for “wants” and not “needs”. Absolute critics would even call it “unwanted wants”!<br /></li><li>Sanity consumption : Financing done for products or service acquisition now, by customers who anyways have that affordability-capability but using it more for cash-flow management. (Eg: Consumer electronics, holidays, etc.) While these purchases using BNPL could be well within the budget of the buyer, studies have shown that the objectivity to stick to a financial wellness goal could be shaken, if the BNPL offers are tempting enough to buy yet another product or service. It would be beneficial for the industry at large to come together to build-in the concept of financial wellness assistance for its users<em>. </em>This would help the users conform to their financial plan and not to have any undue credit exposure that hurts their credit scores. And such hand-holding would go a long way in building consumer trust and to reposition BNPL as a safe practice.<br /></li><li>Reality consumption : Anything that can add value to the real economy borrowers, be it for individuals or businesses, and done with responsible finance framework and responsible-credit behaviour would be long-term positive-trust-accretion to the overall industry. (Eg: business or livelihood enhancement loans)<br /></li></ul><strong>Not eating itself for lunch<br /></strong><br />While BNPL surely is the flavour of the season, rational product development and prudent growth would build consumer trust. Valuations alone can’t drive up consumer trust, while they might drive up short-term public hype. Industry players have to build a profitable business model and sustainable service delivery (expectations), as they launch and/or scale BNPL products. If lending is driven well with adequate technology to understand risks, coupled with relevant merchant-partnerships on-the-ground, this can be a good source of financing for the consumers. Reckless lending through BNPL just to grow the AUM [assets under management] or to showcase the business pass-through that could drive-up potential valuations, will ensure that at some point that music will stop. Then that silence will be eerie.<br /><br />With so many conversations and coverage, hopefully BNPL should <em>not</em> become the next four-letter foul-word in the financial world. The better 4-letter-words that the financial sector does well to remember: “Lend”, “tech”, “risk”, “care”. If the industry does not offer improved socio-economic impact with BNPL, it might as well be called ‘Banal Nouveau Product (for) Lending’.<br /><br />After all, there is no free lunch. Someone has to pay for it! <br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tech-mahindras-attrition-rate-is-nearly-twice-that-of-tcs/articleshow/87259727.cms">Tech Mahindra's attrition rate is nearly twice that of TCS</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/all-bitcoin-price-estimates-for-2021/articleshow/87259108.cms"><strong>Bitcoin’s rally is far from over — these analysts are betting on the world’s largest cryptocurrency to more than double in value by the end of year</strong></a>

OPINION: The next four-letter word taking the world of finance by storm

The second wave of the COVID-19 pandemic has stopped in its tracks the green shoots of economic recovery that were visible. Simultaneously, it induced a triple crisis of disrupting the supply chain, demand, and workforce for India's fragile Micro, Small, and <keyword id="126907" type="COMPANY" weightage="20" keywordseo="Medium-Enterprises">Medium Enterprises</keyword> (<keyword id="6393272" type="UNKNOWN" weightage="20" keywordseo="MSMEs">MSMEs</keyword>), which are often cited as the backbone of the Indian Economy. <br /><br />While MSMEs were already finding it difficult to manage their cash flows including the rigorous lending criteria of banks and non-banking finance companies (NBFCs) with limited assets to use as collaterals, this disruption meant a double whammy of further delay in settling of their receivables as well as lenders becoming more risk averse. <br /><br />While the government and the Reserve Bank of India (RBI) announced a slew of measures, including the issuance of credit schemes and calling out financial institutions to adopt cash-flow-based lending, yet the transmission of these relief measures to a majority of MSMEs remains a challenge. This highlights that the crux of the problem is not the lack of schemes, rather the informal nature of MSMEs and lack of organised set of financial documents, which casts a unique challenge for lenders to assess the creditworthiness of these enterprises. <br /><br />Today, just 40% of the sector’s credit demand is met by formal credit. Add to that the information asymmetry between the data available for MSMEs vis-à-vis large and mid-sized corporates where the lenders’ tend to apply the same lens of existing credit-risk assessment processes to MSMEs to those applicable for larger corporates. This often multiplies the operating cost for lenders to serve MSMEs as compared to the return on their loans. <br /><br />Though this scenario and the increasing credit requirements of MSMEs point to a colossal credit gap of ₹ 30 lakh crore, it underscores the critical role financial technology (FinTech) companies and new-age lenders can play in supporting MSMEs to adapt to the changing reality and respond to the challenges. <br /><br /><cmsannotation type="cmsannotation" annotationid="Capitalising on creditworthiness" comment="subhead" text="Capitalising on creditworthiness"><span data-til="noop">Capitalising on creditworthiness</span></cmsannotation><br /><br />The marriage between technology and financial services provides digital lenders an opportunity to focus on making MSMEs profitable and creditworthy. Alternative sources of data, such as cash flow, utility bill payments, point-of-sale transaction records, and even information from e-accounting programs can help put in place a comprehensive model to assess MSMEs’ business health. Further, by incorporating Artificial Intelligence, Machine Learning, and analytics into these models, lenders can build a more accurate financial health model with a comprehensive credit risk profile to detect and mitigate fraud and NPA risks.<br /><br /><cmsannotation type="cmsannotation" annotationid="Unlocking cash flow and reducing days sales outstanding" comment="subhead" text="Unlocking cash flow and reducing days sales outstanding"><span data-til="noop">Unlocking cash flow and reducing days sales outstanding</span></cmsannotation><br /><br />In addition to simplifying the lending process, innovative technology leveraged by FinTechs can enable electronic invoice presentation, processing, and reconciliation that will also help in better credit monitoring. <br /><br />Considering that chasing late payments is a tiresome process that leads to locked up working capital, e-invoicing can help in significantly removing procedural delays resulting from manual processing of invoices. <br /><br />It also reduces the time required to make and receive payments, gives a real-time status of pending invoices, and helps release locked up cash flow. In addition, MSMEs can also leverage these e-invoices to avail loans instantly, as the process to verify the genuineness of invoices by lenders can be reduced significantly. <br /><br /><cmsannotation type="cmsannotation" annotationid="Financing through digital supply chain platforms" comment="subhead" text="Financing through digital supply chain platforms"><span data-til="noop">Financing through digital supply chain platforms</span></cmsannotation> <br /><br /><keyword id="168300" type="COMPANY" weightage="20" keywordseo="digitalisation">Digitalisation</keyword> of supply chains has been a game-changer for MSMEs that has enabled faster liquidity for them. While banks continue to assess creditworthiness for collateral-based lending to MSMEs, new-age lending platforms can digitally evaluate transaction data through AI-driven credit models in near real-time and offer trade financing products and services contextualised to the parties involved in the trade. <br /><br />Some platforms allow integration of their products and services into banks’ MSME platforms, which can subsequently be offered to MSME customers through digital medium. <br /><br />While no one solution can bridge the existing credit gap for MSMEs, leveraging alternative financing tools, such as e-invoice financing, peer-to-peer lending, and TReDS can go a long way in addressing this issue and create an enabling environment for MSMEs. <br /><br />Further, with the COVID-19 pandemic continuing to disrupt economic activities worldwide, FinTechs, banks, and NBFCs will have to come together to build differentiated lending models to forge the right balance for financial stability and create solutions for the credit needs of MSMEs.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-price-gmp-should-you-subscribe/articleshow/83505013.cms">Sona Comstar IPO worth ₹5,550 crore opens today – find out if this EV battery player has enough juice for a long ride</a><br /><br /><a href="https://www.businessinsider.in/business/news/why-dodla-dairy-has-no-plans-to-expand-beyond-southern-india/articleshow/83503817.cms">Here’s why Dodla Dairy has no plans to expand beyond southern India for at least the next two years even with its IPO</a><br /><br /><a href="https://www.businessinsider.in/stock-market/news/adani-group-under-sebi-scanner-on-market-manipulation/articleshow/83501698.cms">Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks</a><br /></strong><br />

Cash, capital and credit trickle down to small businesses at a frustratingly slow pace — tech can speed them up

New Delhi, Dec 11 () Tech major Intel, in association with the MSME ministry, has launched a nationwide initiative to enhance technology adoption among small and medium enterprises, according to India SME Forum.
<p> A survey conducted by the Forum across 19 states also showed that over 34 per cent of the overall 1,29,537 MSME respondents are employing digital means for communicating with employees, customers and suppliers whereas only 7 per cent have fully embraced digital technology or SAAS Solutions.
</p><p> Over half of the MSMEs highlighted several benefits including higher profitability, operational efficiency and improved customer engagement, however 70 per cent cited lack of knowledge as key barrier for wider adoption of technology.
</p><p> Major causes of low technology adoption cited in the survey are lack of understanding and guidance of business benefits, resistance to incurring upfront investment-related costs to implement technology, and lack of skilled/trained manpower to manage technology setups.
</p><p> Joint Secretary in the Ministry of MSME Alka Arora highlighted the need of technology for the development of about six crore MSMEs in India.
</p><p> "Many of them are in the micro sectors, some of them in the small, medium enterprise but today for any business to take it to the next level, technology is of prime importance," she said.
</p> "Tech platforms such as SAAS (Software as a Service) and business analytics offerings can help MSMEs connect with potential clients to grow their businesses further," she said.  RSN  RSN ANU
ANU

Intel launches initiative to boost tech adoption among SMEs

In India, the banking and financial sector has been riddled with many challenges which has either left out many citizens from the fold of financial inclusion or have greatly limited their access to funds. Slowly and steadily, however, this scenario is changing with the advent of a large number of technology-centric companies that are looking to enhance financial inclusion and make capital available to those in need.<br />
<br /> Take Paytm, <keyword id="1493568" type="UNKNOWN" weightage="20" keywordseo="PayU">PayU</keyword> or Mobikwik for instance, the leading payments platform in India which have truly altered the way country looks at basic monetary transactions. While paying one’s electricity bill or phone bill was a bother few years ago and mandated standing in long queues, today all it takes is a click on your smartphone! It has also made it possible to transfer small amounts of money to one’s friends and families in areas where banks may not be present but internet connectivity and affordable mobile devices are.<br />
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Similarly, Zerodha and Rupeevest are making the process of investing in equities and other financial products seamless and affordable with highly discounted brokerage rates. In a country where household savings are still a major challenge that the government is dealing with, these companies are enhancing the propensity of the common man to think of things like wealth creation and portfolio management. In addition, BankBazaar and PolicyBazaar offer quick and ready access to customized rate quotes on loans, credit cards, car, personal and medical insurance policies etc. They are leveraging technology to not just make fund raising easier but to also propel Indians to plan better for their future.<br />
<br /> In this scenario, where alternative lending companies are making the best use of technology infrastructure to reach out to more and more customers, both individuals and businesses, it doesn’t come as a surprise that they are disrupting the Indian financial services sector in significant ways. As per market research firm Tracxn, about $27 million was invested across alternative lending companies in India between mid-2014 and end-2015. In this same time period, about 30 companies across <keyword id="2837177" type="UNKNOWN" weightage="20" keywordseo="P2P-lending">P2P Lending</keyword> &amp; SME Lending verticals were founded. Some of the companies that have been doing formidable work in this domain include B2C loan marketplaces such as India Lends, P2P loan providers such as Faircent, and B2B online lenders such as <keyword id="2869422" type="UNKNOWN" weightage="20" keywordseo="Lendingkart">Lendingkart</keyword> Group NBFC, Capital Float and NeoGrowth.<br />
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<strong>P2P lending has become a huge phenomenon in the country with marketplace</strong>.<br />
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P2P lending is generating about $18.79 million in 2015. P2P or marketplace lending as it is often called, connects individual borrowers with individual lenders for mutual benefit. Unstructured P2P lending has been prevalent in the country since time immemorial. However, the tech-backed platforms that are emerging in this space are streamlining how things work. They are ensuring that borrowers get access to funds at reasonable rates. The potential of this space in a country as large as ours is palpable from the large number of marketplace lending platforms that have emerged off late. These include <a href="http://www.crowdfundinsider.com/2016/02/82176-brief-loanzen-nabs-funding-from-angel-network-tracxn-syndicate/" target="_blank"> LoanZen</a>, <a href="" target="_blank">Capzest</a>, KountMoney, Loanbaba, Faircent and LoanCircle which have already raised significant capital.<br />
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<strong>B2B lending</strong>, too, is at an all-time high. These marketplaces are helping India’s large MSME sector accelerate at an unprecedented rate. They are using Big Data and Analytics to evaluate a business and a potential borrower’s credit risk profile to accurately ascertain the amount of funds that can be lent. They take into account the current year’s cash flows and the business growth to analyze the ability to pay working capital loans back and to assess if loans should be renewed or not.<br />
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They have also used technology the right way to make loan application and disbursal process fast and hassle-free. These B2B alternative lending companies are truly disrupting the way Indian finance space works and therefore, this segment too has witnessed a steady spurt in numbers, both in terms of growth of start-ups in this space and in terms of investment.<br />
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Our Prime Minister, Narendra Modi, has been extremely vocal about his vision for widespread financial inclusion in the country. In fact, this vision is the cornerstone of his “Start Up India, Stand Up India” programme. The Government is going all out to solve the problem of financial inclusion with schemes like ‘<a href="http://yourstory.com/tag/jan-dhan-yojana/" target="_blank">Jan DhanYojana</a>’ and ‘<a href="http://yourstory.com/2015/01/aadhaar-hackathon-winners/" target="_blank">Aadhar</a>’ enrolment. The RBI has also given in-principle approval to many large entities to set up Payment Banks across India. Additionally, alternative lending start-ups are boosting this endeavour across the nation with the help of technology. These Fintech companies are now also looking at entering strategic partnerships with various government bodies to enable financial services pan-India with the overarching goal of banking the unbanked.<br />
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India is considered to be one of the largest markets for consumer finance with close to 70 per cent of the market being underserved by institutional lenders. Moreover, SME lending in the nation, too is a very deep vertical. Banks and NBFCs lend about $150 million to this sector yet the needs of this large and growing space remain unfulfilled. However, with the advent of tech-backed alternative lending companies, those who have hitherto been left out of the fold of financial inclusion are now fast becoming a part of it. This space is likely to see 10X growth in the near future. All stakeholders in the sector are looking forward to strategic partnerships between start-ups and established financial institutions so that together they can give the right fillip to nation’s economic and entrepreneurial growth. <br />
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(The article is authored by Harshvardhan Lunia, CEO &amp; Co-Founder, Lendingkart Technologies)<br />
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(Image: Thinkstock)<br />

Fintechs are heralding a new era for Indian banking and finance sector

New Delhi: The <keyword id="19938513" type="General" weightage="20" keywordseo="Department-of-Consumer-Affairs" source="keywords" meta.keywordsubtype="org" meta.entityname="Department of Consumer Affairs" meta.hostid="268" meta.entityid="Department of Consumer Affairs">Department of Consumer Affairs</keyword> has constituted a committee of experts to recommend a robust framework for a <keyword id="22964001" type="General" weightage="100" keywordseo="Repairability-Index" source="keywords">Repairability Index</keyword> aimed at empowering consumers and promoting <keyword id="20128078" type="General" weightage="20" keywordseo="sustainable-practices" source="keywords">sustainable practices</keyword> within the tech industry. The committee, chaired by Department of Consumer Affairs (DoCA) Additional Secretary Bharat Khera, will develop the Repairability Index to provide consumers with greater transparency on repair information for their products and foster a more sustainable technology industry. <br /><br /> The National Workshop on the Right to Repair in the <keyword id="20881182" type="General" weightage="20" keywordseo="mobile-and-electronics" source="keywords">Mobile and Electronics</keyword> Sector, convened on August 29, brought together industry stakeholders to establish a consensus on the framework for evaluating components for the Repairability Index, fostering longevity in product design and democratising access to repair information and spare parts. <br /><br /> "The framework on Repairability Index aimed to provide consumers with essential information about product repairability besides seamless access to spare parts will enable informed purchasing decisions," the DoCA said in a statement. <br /><br /> The committee, which includes representatives from the Ministry of Electronics and Information Technology (MeitY), Ministry of Micro, Small and Medium Enterprises (MSME) and industry stakeholders, is expected to submit a comprehensive report on the Repairability Index framework by November 15. <br /><br /> The key components of the proposed Repair Ecosystem include comprehensive repair information, accessible spare parts, affordable tools, modular product design and ensuring the economic feasibility of repairs for consumers. <br /><br /> "By standardising the assessment of repairability, the index will create an ecosystem where consumers can easily compare products and choose options that align with the ethos of mindful consumption and sustainability," the DoCA statement said.

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