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Home Business

SIDBI and TransUnion CIBIL launch MSMESaksham

by Gujarat Journal Team
July 30, 2020
in Business
Reading Time: 3 mins read
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In order to support the revival of India’s economy and strengthen Micro, Small and Medium Enterprises (MSMEs), Small Industries Development Bank of India (SIDBI) in association with TransUnion CIBIL has launched MSMESaksham – a comprehensive financial education and knowledge platform for MSMEs. This unique one-stop knowledge portal will guide MSMEs seeking seamless and quick access to finance while also supporting entrepreneurs towards managing their credit obligations.

MSMESaksham aims to guide MSMEs across their credit lifecycle, from availing credit to start and grow their businesses, to managing credit lines to sustain and build structural strength of the business, as well as ensuring timely closures and renewals of credit facilities. Focused on two key pillars of financial knowledge and access to credit, MSMESaksham leverages SIDBI’s extensive network of MSMEs as well as information and insights from TransUnion CIBIL to create an educational ecosystem that can help build structurally strong MSMEs.

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SIDBI and TransUnion CIBIL launch MSMESaksham
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Speaking at the launch of MSMESaksham, Shri Mohammad Mustafa, IAS, Chairman and Managing Director, SIDBI said, “As MSMEs are gearing up to emerge out of present challenges, we realize our crucial role of being harbinger of reliable and trustworthy information and seamless credit access. SIDBI is happy to partner with TransUnion CIBIL in empowering MSMEs by making them financially aware and loan-ready so that timely and affordable financial support is realized. This aligns with our Mission Swavalamban wherein we are targeting youths to imbibe entrepreneurship culture. MSMESaksham being a digital platform aims to facilitate and strengthencredit information availability for MSMEs, pan India.The large-scale credit infusion to MSMEs under the Emergency Credit Line Guarantee Scheme (ECLGS) of AtmaNirbharBharat program is a very promising opportunity for MSMEs to access financial support for bouncing back and taking next leap confidently.”

Shri Rajesh Kumar, Managing Director and CEO of TransUnion CIBILsaid, “Empowering MSMEs is vital for economic resurgence and we are committed to supporting the credit industry, government and the MSMEs themselves with insights and solutions to enable them to transact with confidence. While we are supporting banks and credit institutions with solutions to drive faster and digitalized access to credit for MSMEs, we are also extending guidance and enabling access to CIBIL Rank and commercial credit report for the MSMEs. With the launch of MSMESaksham, we strengthen our commitment to empower MSMEs and help develop a productive ecosystem conducive for resurgence and sustained growth of the sector.MSMESaksham is a single destination for MSMEs to access a wealth of helpful financial information and tools –Government schemes and interventions, access to their CIBIL Rank and Score, loan offers from banks and above all a comprehensive knowledge hub encompassing business insights and learning modules about credit and creditworthiness.”

The COVID-19 pandemic has further been detrimental to MSME businesses with newer hurdles like reduced cash flows and a dip in market demand. Credible access to guidance on maintaining financial discipline is critical to help MSMEsachieve long term stability and sustained business growth. Managing credit well and building a good CIBIL Rank is essential towards creating a structurally strong business.

Highlights of MSMESaksham:

  1. Available in two languages – English and Hindi        
  2. Consolidated list of all Government of India and State government schemes and interventions launched to help MSMEs
  3. Knowledge hub with informative articles, how-to infographics and videos, and business insights to help entrepreneurs and business owners start or grow their businesses
  4. Business insights and MSME resources showcase credit trends and regional insights
  5. A seamless credit journey with all the necessary tools:
  6. CIBIL Score & CIBIL Rank to help MSME owners understand their company’s credit profile
  7. Special loan offers for MSMEs
  • Help Centre and events calendar with frequently asked questions about credit and CIBIL Score and CIBIL Rank, MSME news snippets and the latest announcements

 For more information, please visit https://www.msmesaksham.com

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