SIDBI has partnered with ___________ to connect the informal rural microenterprises with the formal financial sector to help them digitise their business activities, and access formal credit.

Solution

Small Industries Development Bank of India has entered into a partnership with the Indian Post Payments Bank (IPPB), a division of the Indian Post. The partnership aims to connect the informal rural microenterprises with the formal financial sector to help them digitise their business activities, and access formal credit. IPPB will support SIDBI’s customers to adopt digitisation through its merchant onboarding systems and help provide UPI and QR-based solutions, etc. Furthermore, upskilling the Dak Sevaks in supporting credit facilities to micro-enterprises will also be undertaken by the partnership.