Godrej Group’s NBFC arm announces new platform Nirmaan to offer these services to MSMEs

Credit and finance for MSMEs: The company said it has partnered with Amazon Global Selling (e-commerce exports programme), Onsurity (employee healthcare platform), Zolvit (tax and compliance support for MSMEs), and MSMEx (advisory platform for MSMEs) so far to support small businesses.

Written by MSME Desk

April 17, 2023 15:09 IST

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The tie-ups will support small businesses to boost their market reach.

Credit and finance for MSMEs: Godrej Capital, the non-banking finance company (NBFC) arm of the Godrej Group, on Monday announced its new digital platform Nirmaan to provide a bouquet of services to MSMEs. The company said it has partnered with Amazon Global Selling (e-commerce exports programme), Onsurity (employee healthcare platform), Zolvit (tax and compliance support for MSMEs), and MSMEx (advisory platform for MSMEs) so far.

The partnerships will help increase the potential market reach of small businesses, simplify legal and compliance for them, enhance their employees’ health and welfare, and provide business coaching to them, the company said. In this initial launch phase, services will be promoted in 30 key markets across India but available in all corners of India.

Also read: Plan to expand business via MSME, unsecured lending: Godrej Capital MD

The new platform will “enable MSMEs to grow their fullest potential and thus drive economic growth of the country. We have closely studied the growth challenges of MSMEs in the country, and along with the lending services we already provide, with Nirmaan, we can help solve some of those challenges and support the sector’s growth,” said Manish Shah, MD & CEO at Godrej Capital in a statement.

The flagship platform by Godrej Capital is the first in the BFSI industry in India and goes “beyond its core lending offering and provides value-added services encompassing business growth opportunities, ease of business, and knowledge and network avenues.”

Also read: ECLGS prevented Rs 2.2-trn MSME loans from turning into bad loans: SBI report

Godrej Capital has disbursed over Rs 5,300 crores so far since its inception in November 2020 across housing and MSME loans and expanded to 13 cities in India.

The MSME sector was deployed Rs 19.52 lakh crore in priority sector credit in February this year with a 14.5 per cent share in the Rs 134.15 lakh crore non-food bank credit deployed across sectors during the month. The credit to MSMEs grew 12.9 per cent from Rs 17.28 lakh crore deployed in February 2022, according to the data from the Reserve Bank of India.