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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