SIDBI to launch app-based 'invoice financing' loans platform 'GST Sahay' for MSMEs: CGM

Patna, Sep 28 (PTI) With an aim to enhance the economic and financial sustainability of micro, small and medium enterprises (MSME), the Small Industries Development Bank of India (SIDBI) is in the process of launching an app-based 'invoice financing' loans platform 'GST Sahay', an official said.

This was announced by SIDBI, Chief General Manager (CGM), Rahul Priyadarshi at a customer outreach programme here on Wednesday.

"The MSMEs are vital for the economic growth and development of India. They (MSMEs) create jobs and contribute enormously to the socio-economic development of the country. Although several measures for the MSMEs have been taken in the past few years by the government, the crunch in working capital credit is one of the major issues for them. Now, SIDBI is in the process of launching an app-based 'invoice financing' loans platform for them," he said.