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Aditya Birla Finance launches Udyog Plus for MSMEs, offers paperless loans of up to Rs 10 lakh loan
The MSME sector played a pivotal role in driving Delhi NCR’s economy by achieving economic growth of 9.8 per cent in the fiscal year 2023 and employing more than two million people.
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Delhi NCR is the largest among union territories in terms of registered MSME.
Written By: ZeeBiz WebTeam
Updated: Thu, Aug 24, 2023
09:24 PM IST
09:24 PM IST
New Delhi, ZeeBiz WebDesk
Aditya Birla Finance Ltd. (ABFL) has launched Udyog Plus - a B2B digital platform that offers a wide range of financial solutions, including financing, protection, investments, advisory and value-added services for the MSME sector of Delhi and National Capital Region (NCR). Through Udyog Plus, ABFL aims to facilitate the growth and development of MSMEs in the national capital and nearby areas. It aims to empower MSMEs with wholly seamless and paperless financial support.
Udyog Plus is an open marketplace that can be accessed through the financing section of the Aditya Birla Capital website by both existing and new customers of ABFL.
Paperless loan of up to Rs 10 lakh
MSMEs in Delhi NCR can now avail of business loans of up to Rs 10 lakh through a completely paperless digital journey of Udyog Plus. In addition to unsecured business loans, the entire ecosystem of MSMEs, including promoters, owners and employees, can enjoy various other services offered by Udyog Plus, such as customised secured lending, insurance, investment solutions, etc.
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Udyog Plus integrated with government e-commerce websites
The platform is integrated with government e-commerce websites via Open Credit Enablement Network (OCEN) and private e-commerce websites to provide credit facilities to sellers on these platforms. Aditya Birla Finance has also partnered with leading solution providers to offer a host of value-added services to MSME customers, such as free access to business networking platforms and digital commerce, including corporate travel solutions, zero balance bank account, accounting, payroll, and tax filing tools and specialized knowledge content hub.
According to ABFL, it has a strong presence in the MSME segment with around 50 per cent of its total loan book comprising of business loans. Also, ABFL has achieved a 37 per cent year-on-year growth in this segment. Through the launch of Udyog Plus, ABFL aims to simplify the credit landscape by digitizing the Business loan journey for the MSMEs, leading to instant loan disbursals.
“We are excited to present Udyog Plus for our MSME customers in Delhi NCR, which will empower them to achieve new horizons of success. Delhi NCR is now home to more than 9 Lakh MSMEs, providing employment for a significant number of individuals. Through this platform, we aim to further strengthen ABFL’s foothold in the MSME segment and provide them with a wide range of solutions throughout their business life cycle and encourage the entrepreneurial spirit of Delhi NCR,” Rakesh Singh, MD & CEO Aditya Birla Finance Ltd., said.
The MSME sector played a pivotal role in driving Delhi NCR’s economy by achieving economic growth of 9.8 per cent in the fiscal year 2023 and employing more than two million people. Delhi NCR is the largest among union territories in terms of registered MSME.
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