MSMEs Kiranas – Bada Business

Paytm to Double Loan Disbursement for MSMEs From Rs 550 Crore in Last Fiscal Year to Rs 1,000 Crore by March 2021

New Delhi, November 9: In a major boost to the micro- and small and medium enterprises (MSMEs), financial services platform Paytm on Monday announced to double its loan disbursements for the MSMEs from Rs 550 crore in last fiscal year to Rs 1,000 crore by March 2021. The firm said that it has company expanded collateral-free loans of up to Rs 5,00,000 at a low-interest rate and unique daily EMI product customised for micro-merchants.

Paytm continues to lead the offline payments (P2M) segment with over 50 percent market share by offering all digital payment methods. Bhavesh Gupta, CEO, Paytm Lending was quoted by IANS saying that with the firm’s collateral-free instant loans, it is trying to help kirana stores and other small business owners who have been left behind by the traditional banking sector and do not have easy access to loans and credit.

According to a report by IANS, the company informed that the recently launched Paytm All-in-One Android POS device has enabled over two lakh MSMEs to accept all payment modes. The company said it will continue to offer collateral-free loans under the ‘Merchant Lending Programme’ in Paytm for Business app. The firm said it has digitised the entire process starting from the loan application, approval to disbursal with no additional documents required in partnership with NBFCs and banks.

Rrports inform that in the last financial year, the company processed loans worth Rs 550 crore, benefiting over a lakh merchant partner. “Going forward, we will especially focus on EDC merchants and provide higher loan amounts based on their EDC transactions,” Gupta said.

Flipkart Wholesale Launches Business-to-Business Platform for MSMEs and Kiranas

Bengaluru, September 3: E-commerce platform giant Flipkart has recently launched operations of its digital business-to-business marketplace, aiming to connect local manufacturers with retailers. With the launch of Flipkart Wholesale’s B2B platform, Flipkart aims to bring the entire wholesale marketplace at their fingertips.

Issuing a statement, Senior Vice President and Head of Flipkart Wholesale — Adarsh Menon — said, “With the strong capability within the group in B2B, we will focus on meeting the needs of kiranas and MSMEs by providing these small businesses a wide selection at significant value, powered by technology to make their lives easier.”

Adding more, he said, “Whether in grocery, general merchandise or fashion, these businesses will have one-stop access to an extensive selection of products with attractive schemes and incentives.” Menon stated that Flipkart Wholesale is currently available for fashion retailers, especially footwear and apparel, in Gurugram, Delhi and Bengaluru. However, Flipkart is planning to expand the platform to Mumbai as well.

Meanwhile, Head of Flipkart Wholesale stated that e-commerce is planning to the new platform to 20 more cities and in categories such as home and kitchen and grocery by December 2020. It is also aiming to rope in over 300 strategic partners and has over two lakh listings in two months.

Apart from this, the business-to-business (B2B) platform will enable the onboarding of 50 brands and over 250 local manufacturers in the coming days. Through this platform, kiranas, resellers and MSMEs will have access to the easy credit facility. The company statement said that platform, will provide a wide range of assured quality products, micro-market level B2B and B2C insights from the Flipkart ecosystem and an easy order tracking facility.