- SIDBI will provide assistance as a financier to fund the MSME sector within 24 hours through the M1xchange platform.
- This partnership between SIDBI and M1xchange will act as a highly efficient option for solving the issue of delayed payment to MSMEs.
- This will play a major role as the MSME sector accounts for the second largest number of employers after agriculture.
- SIDBI was established in 1990 with its headquarters in Lucknow, UP. The current Chairperson & Managing Director (CMD) of the company is Sivasubramanian Ramann.
- M1xchange is the country’s leading TReDS platform that provides early financing to MSMEs. It was established in 2017 with its headquarters in Gurugram. The current CEO of the company is Sundeep Mohindru.
Question:
Q.1 SIDBI recently partnered with which of the following to provide liquidity to the MSME sector at low-interest rates?a. RXIL
b. M1xchange
c. InvoiceMart
d. Paytm
