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The MoU for the partnership was signed in the presence of Shri M. Nagaraju, IAS, Secretary, Department of Financial Services (DFS), who graced the occasion as Chief Guest. Shri Manoj Ayyappan, JS, DFS, Shri Manoj Mittal, CMD SIDBI, Shri Lalit Tyagi and Shri Lal Singh, Executive Directors, Bank of Baroda and other senior leadership from Banks and FIs participated in the ceremony.

Key areas of partnership under the MoU include:

• Joint Financing for MSMEs: Credit delivery support through combined strengths of SIDBI’s MSME focus and Bank of Baroda’s wide branch network.
• Working Capital Enablement: Operationalisation of BOB’s Working Capital Platform for SIDBI-sanctioned borrowers to ensure seamless, tech-enabled Working Capital support.
• Startup Financing: Structured support for startups through coordinated interventions—SIDBI’s Venture Debt Programme, and Bank of Baroda’s Startup Banking solutions, including financial products, advisory, and customised offerings.
• Export Promotion: Enabling MSMEs and high-growth startups to benefit from Bank of Baroda’s global network, offering export-related banking support, market access insights, and international banking solutions.
• Cluster and Innovation Support: Joint programs for MSME clusters, incubators, accelerators, and startup ecosystems across the country.

Shri M. Nagaraju, IAS, Secretary, DFS, while delivering the keynote address said “This partnership brings together the strengths of a dedicated MSME development institution and a large commercial bank to build a stronger credit ecosystem for MSMEs and startups. By combining SIDBI’s innovative financing models with Bank of Baroda’s national and international reach, this MoU will help enterprises—both traditional and new-age—access timely working capital, scale operations, and integrate into global value chains.”

Shri Manoj Ayyappan, Joint Secretary, DFS, said “The SIDBI–Bank of Baroda partnership marks an important step in strengthening India’s MSME and startup ecosystem. By bringing together SIDBI’s developmental expertise and Bank of Baroda’s strong national and global presence, this collaboration will significantly enhance access to timely and affordable credit.

Shri Manoj Mittal, CMD, SIDBI, said “For 35 years, SIDBI has shaped the MSME and startup financing landscape through direct, indirect and digital interventions. This MoU deepens our ability to jointly support MSMEs as well as high-potential startups through venture debt, digital credit, and coordinated working capital solutions. We see this as a powerful opportunity to accelerate India’s enterprise growth narrative.”

Shri Lalit Tyagi, Executive Director, Bank of Baroda, said: “Bank of Baroda is committed to supporting MSMEs and the emerging startup ecosystem. Through this partnership, we will strengthen joint financing, enhance digital credit enablement, and expand specialised banking solutions for startups. Our global presence will further help MSMEs, and startups tap export opportunities.”

Shri Lal Singh, Executive Director, Bank of Baroda delivering the vote of thanks, appreciated the efforts put in by both the teams and congratulated all stakeholders for the anticipated value creation for all parties involved, especially the customers.

During the event, the Secretary, DFS also handed over the sanction letters under the SIDBI-BOB MoU to MSME customers.

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The MoU was formally signed recently, by Mr. Sanjay Rautela, Chief General Manager, NSIC, and Mr. Chandra Shekhar Arya, General Manager – Priority Sector, IDBI Bank, at the bank’s Head Office in Mumbai.

The signing ceremony was held in the presence of Dr. Subhransu Acharya, CMD, NSIC, and Shri Gaurav Gulati, Director (Finance), NSIC, along with senior officials from both organizations.

Through this partnership, IDBI Bank will provide credit support to MSME projects at various locations across India, including key industrial hubs and clusters where its

branches operate. This collaboration aims to streamline the credit facilitation process and serve as a platform for referring MSME clients interested in availing of IDBI Bank’s loan products.

The MoU marks a significant step in strengthening the MSME ecosystem by ensuring timely financial support to enterprises, thereby fostering entrepreneurship and economic growth.

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Bengaluru, 09^th July 2025 – DBS Bank India Limited (DBIL) has waived prepayment and foreclosure charges for all Micro, Small, and Medium Enterprises (MSMEs) borrowers registered with UDYAM, making it easier for businesses to access credit and manage cash flow. Announced on MSME Day, this move reflects the bank’s continued commitment to supporting India’s MSMEs. The waiver is effective going forward and applies to both new and existing active borrowers.

This proactive step aims to enhance borrower flexibility and aligns with regulatory guidance focused on improving transparency in lending. It also addresses a persistent challenge faced by many MSMEs—where foreclosure charges have often deterred early repayment or refinancing, restricting their ability to optimise cash flow management.

Commenting on the development, Sudarshan Chari, Managing Director, and Head – SME Banking, DBS Bank India, said, “Access to flexible and affordable credit remains a critical need for micro, small and medium enterprises. By waiving prepayment and foreclosure charges, we are addressing a common challenge that often limits financial agility. This change enables businesses to repay loans early without penalty and reallocate funds towards immediate priorities or critical areas like inventory, technology, and expansion. It aligns with our broader efforts to support MSMEs with need-based solutions that strengthen their resilience and unlock long-term growth.”

DBS Bank India is committed to empowering enterprises across the value chain, supporting their growth at every stage. Its SME banking proposition offers a robust suite of solutions tailored to meet the diverse requirements of entrepreneurs, combining innovative offerings with deep regional expertise.

With its online account opening feature, entrepreneurs can set up current accounts quickly and seamlessly, eliminating the need for cumbersome paperwork. The bank also provides hassle-free business loans, enabling faster access to finance for growth and working capital needs. Through award-winning foreign exchange solutions and API-led banking integration, DBS Bank India helps businesses enhance operational efficiency, automate workflows, and respond swiftly to market opportunities.

DBS IDEAL, the bank’s mobile-enabled corporate banking platform, allows businesses to manage payments, monitor cash flows, and track transactions in real time. Additionally, the integration with Tally ERP enables connected accounting, allowing SMEs to automatically reconcile records and maintain better control over their financial reporting.

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Bengaluru, July 01, 2025; IndusInd Bank today announced that it has introduced ‘INDIE for Business’, a comprehensive digital banking platform designed to transform how the micro, small, and medium enterprises (MSMEs) manage their finances. Crafted for business owners who seek a seamless and intuitive experience, the platform offers a unified interface that brings together all banking needs – across payments, loans, collections, and account insights – into a single platform. INDIE for Business empowers entrepreneurs with greater control, efficiency, and transparency, helping them focus on growing their enterprise while this digital platform takes care of their financial operations. The platform is accessible via mobile application (android & iOS) and web browser.

Through INDIE for Business, IndusInd Bank aims to reach over 60 million enterprises within India’s MSME segment, offering a powerful suite of features tailored to their evolving needs. The platform incorporates several industry-first features, such as a 360° view of all business accounts, real-time tracking of loan balances, EMIs and due dates, digital self-onboarding, along with seamless profile switching for entrepreneurs managing multiple entities. Businesses can also make bulk payments for salaries and vendors, pay GST, income tax, and customs duties directly from the platform, and authorize transactions on-the-go using a digital approval workflow with role-based access for sub-users like accountants or finance staff, providing added operational flexibility while upholding a secure and structured framework.

Ms. Charu Sachdeva Mathur, Head – Digital Banking & Strategy (Existing Business), IndusInd Bank, said, “At IndusInd Bank, we believe that the MSME sector is the backbone of India’s economic growth. INDIE for Business will empower the MSMEs with a digital-first, intuitive platform that simplifies banking and gives them complete financial control. The platform is designed to address key challenges including account management, tracking loans, making tax payments, or collecting dues. As the sector evolves, we believe INDIE for Business will be instrumental in accelerating their growth and supporting India’s digital economy vision.”

INDIE for Business offers a fully paperless onboarding process, allowing MSMEs to register instantly using Aadhaar, debit card, or net banking credentials. The platform will enable businesses to accept payments via POS, QR codes, and payment links, making collections simpler and more accessible. The platform also aims to transform cross-border payments with its instant and paperless solutions. INDIE for Business was recently recognized as the Best Digital Platform for Business Banking at Finnoviti Awards 2025.

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Bengaluru, 01 July, 2024 – DBS Bank India has announced its partnership with Receivables Exchange of India Limited (RXIL), the first RBI-licensed exchange platform under the Trade Receivables electronic Discounting System (TReDS). While the bank already offers post-shipment financing on the TReDS platform, it is now launching a pre-shipment financing solution that will empower Indian SMEs with an additional way of availing trade finance in a credit-light manner. By using alternative trade lending data from RXIL to build better borrower profiles, the bank will be able to support the supplier’s entire trade cycle, from sourcing raw materials to delivering the end product to the customer. This offering will be particularly relevant for MSMEs and SMEs across India, enabling them to enhance cash flows to fulfill orders even before goods are delivered to buyers.

MSMEs contributed 45.56% of total exports from April-September ‘23 as per the Ministry of External Affairs report[1]. Despite their sizeable share in trade flows, MSMEs often face challenges establishing favourable payment and credit terms with buyers, managing outflows, and obtaining the documentation required by formal lenders. With the new DBS solution, MSMEs on TReDS will now be empowered through a transparent, simplified process to secure funding against purchase orders from buyers, thereby streamlining cash flows.

Divyesh Dalal, Managing Director & Head – Global Transaction Services, SME & Institutional Liability Business, DBS Bank India, said, “The collaboration with RXIL underscores our commitment to supporting the MSME sector and broadening their access to finance. The structure enables us to significantly reduce the time required for credit decisioning and linked documentation, which will greatly benefit time-strapped business owners. DBS Bank India will be the first bank to partner with RXIL to offer end-to-end supplier financing by harnessing platform data to perform credit assessment and sanction limits. The partnership leverages our digital capabilities to facilitate working capital financing for MSME suppliers by helping them unlock value in their operating flows.”

Ketan Gaikwad, Managing Director & CEO of RXIL, said, “RXIL is at the forefront of driving change in the landscape of trade finance. This collaboration holds immense potential in revolutionising pre-shipment financing for MSMEs through a trusted partner like DBS Bank India. Our shared vision entails leveraging a data-driven approach to assist MSMEs in streamlining operations, enhancing liquidity, and facilitating their trade journey as they expand their business. Additionally, this collaboration promises to alleviate the working capital challenges faced by MSMEs, offering tailored solutions to enhance their financial stability and propel their growth trajectory. By leveraging innovative financing mechanisms, we aim to empower MSMEs with the resources they need to thrive in today’s dynamic trade landscape.”

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

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

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

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

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

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No doubt there is a long road to traverse but it is also beyond doubt that with entrepreneurship, innovation and agility at its core, the MSME sector can not only play a vital role in making India a US$5 trillion economy in the next five years but can also become a growth engine.

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