New Delhi, Apr 3 (KNN) Eyeing at making the process of obtaining credit for the Micro, Small and Medium Enterprises (MSMEs), Small Industries Development Bank of India (SIDBI) hinted at introducing a ‘Contactless loan platform’ soon.

SIDBI made the announcement during the bank’s foundation day event on Monday.

Also during the event, Chairman and managing Director of SIDBI Mohammad Mustafa launched various initiatives including the MSME contact program.

Mustafa in a press statement urged SIDBI officers to get closer to the micro, small and medium enterprises and understand their problems and challenges.  He further urged them to leave no stone unturned to facilitate ease of doing business for the MSMEs.

SIDBI further said that the bank has introduced a series of steps to enhance direct credit to the MSMEs. The bank also highlighted CRISIDEX that was launched recently to gauge MSME aspirations, pulse and health tracker for the sector.

In a bid to explore the concerns of MSMEs and also to build a strengthened relationship, Small Industries Development Bank of India (SIDBI) deputed over 175 officials to go and spend a day at small industries to observe them and absorb first-hand experience. Under the proposed program, the officials visited their micro and small enterprises clients across the country in 23 states and over 80 districts. (KNN/DA)