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= Udyami Mitra =

Udyami Mitra - loan portal for MSMEs in India
It is a loan portal for micro, small and medium enterprises in India, launched by SIDBI, on behalf of the Govt. of India, to standardize the loan origination process and help micro, small and medium business enterprises get access to finance in India as one of the steps taken by the government to change the landscape of the MSMEs. MSMEs as these micro, small and medium enterprises are called, are basically Small Scale Industry and is governed by the Ministry of Micro, Small and Medium Enterprises. As per the sixth economic census published by the ministry, 58.5 million establishments were found to be in operation. 34.8 million establishments (59.48%) were found in rural areas and nearly 23.7 million establishments (40.52%) were found to be located in urban areas. These establishments historically have limited access to finance through formal banking channels. "As per Reserve Bank on India, there is a total finance requirement of INR 32.5 trillion ($650 billion) in the MSME sector, which comprises of INR 26 trillion ($ 520 Billion) of debt demand and INR 6.5 trillion ($130 Billion) of equity demand).As per provisional data for period ended March 2016, total outstanding loan of the banking system to MSME sector stood at around 11.1 trillion rupees in 20.6 million loan accounts. Contrast this to the estimated need of INR 26 trillion and number of MSMEs at 51 million."Small Industries Development Bank of India (SIDBI) has launched the 'Udyami Mitra' Portal (www.udyamimitra.in) to improve accessibility of credit and handholding services to Micro, Small and Medium Enterprises (MSMEs). As per the Ministry of Finance, Govt. of India this portal would improve the accessibility of credit for the MSMEs. The banks have been fully capitalised and their lending capacity has increased. It is really the right time that Udyami Mitra becomes effective. As per the Ministry of Micro, Small and Medium Enterprises the Udyami Mitra portal has been advised to meet 7.5 per cent ANBC target for micro enterprises in India.