Public Tech Platform News Today

The Indian government has allowed the GST Network to share data about GST-registered businesses with the Reserve Banks Public Tech Platform for Frictionless Credit based on their consent. This move aims to facilitate quicker loan processing for entities by providing lenders with shared Goods and Services Tax (GST)-related information.

The investors have red-flagged the acquisition of Aakash Educational Services Ltd (AESL) saying Byjus agreed to “onerous” and “prejudicial” loan terms with Davidson Kempner (DK), among other matters.

The move will help entities get loans faster on the basis of shared Goods and Services Tax (GST)-related information

While disbursal of consumer loans through a digital interface has become common, farmers and people who run small businesses still need to queue up at their local bank branches and the land records department for days to access agriculture loans and take Kisan credit cards.

The Indian government has permitted the GST Network to share data about GST-registered businesses with the Reserve Bank of India’s ‘Public Tech Platform for Frictionless Credit’

The financial service providers and multiple data service providers can converge on the platform using standard and protocol driven architecture, a notification said.

Addressing access to finance and mitigating delayed payments hold the key to MSMEs growth in the country, says Ravi Venkatesan, GAMEs founder.

The Digital India Bhashini Division will do this in collaboration with the Reserve Bank Innovation Hub (RBIH), a subsidiary of the central bank, to explore and develop solutions that break linguistic barriers in the sphere of financial services.

Rbi: The deputy governor in his keynote address emphasised the significant role of the MSME sector, particularly in the context of the goal of attaining developed economy status by 2047.

The RBI’s Standing Advisory Committee (SAC) reviewed the flow of credit to Micro, Small and Medium Enterprises on Friday at its meeting held in Lucknow, a central bank said in a release. The 28th meeting of SAC was chaired by RBI Deputy Governor Swaminathan J, and attended by senior officials