MSMEs demand digital lending solutions from Narendra Modi in budget 2019

Ahead of budget 2019, MSMEs are demanding security to the digital transaction they would be doing as more and more online lending platforms are required.

MSMEs demand digital lending solutions from Narendra Modi in budget 2019
MSMEs say increase in digital lending sector in the union budget 2019 from Naendra Modi government would do the needful. Photo source: Pixabay
By Asit Manohar
Updated: Thu, Jan 31, 2019
04:47 pm
New Delhi, ZeeBiz WebDesk
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On account of digitisation disrupting the Indian ecosystem, especially the SMEs and MSMEs, the sector have demanded from the Narendra Modi government to give a focused road map to secure their transactions and businesses online. They said increase in digital lending sector would do the needful and budget 2019 is the perfect platform for this. 

Sampad Swain, Co-Founder & CEO, Instamojo told, "With digitization disrupting the Indian ecosystem in multiple dimensions, one can expect a hike in the rate of digital adoption by MSMEs, when given the right amount of funds and focus to secure their transactions and businesses online. This involves an increase in investment in the digital lending sector, to help lending platforms fuel the growth of digital SMEs and MSMEs. At Instamojo, we support MSMEs that want to go digital and enable safe and secure payments for all their transactions."

See Zee Business video below:

The Instamojo co-founder went on to add that MSMEs continue to remain hopeful of a reduction in the GST rates and the benefit of tax holidays. This initiative can largely be beneficial to MSMEs, who are bound by the limited access to funds for business operations.

Speaking on digital security helping MSMEs Pankaj Verma, Head — SME at SBI General Insurance told, "There should be an online digital platform where a SME or MSME can plug in for loans meant for business purposes should also be considered in the union budget 2019 as it would help MSMEs and SMEs to save time which they devote while moving from pillar to post to get their loan approved."

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