New Delhi, Dec 29 (KNN) The Small Industries Development Bank of India (SIDBI) has launched ‘Udyami Mitra’ portal (www.udyamimitra.in) to improve accessibility of Credit for the MSMEs.

Under the portal entrepreneurs can apply for loan without physically visiting bank branches. It also has facility for uploading all necessary documents.

Through the portal the MSMEs can seek handholding support for getting finance. They can also select and apply for preferred banks.

Through the portal, the MSMEs can select from over 1 lakh bank branches, track their application status and avail multiple loan benefits.

According to industry body FOSMI, the Reserve Bank of India (RBI) has also advised the banks to sensitize their bank branches about adopting ‘Udyami Portal’ for centralized processing and surveillance of loan application from MSMEs.

As the portal in an appreciable initiative by the Banks and the Government to bring transparency in processing of loans, MSME fraternity should start trying the portal for submission of loan applications and follow up the processing. (KNN Bureau)