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SIDBI & IPPB inked MoU for Financial Support to MSMEs in Remote Areas

Published on October 16, 2023

Current Context:  The Small Industries Development Bank of India (SIDBI) and India Post Payments Bank (IPPB) have indeed entered into a Memorandum of Understanding (MoU) to extend formal financial services and other support to Micro, Small, and Medium Enterprises (MSMEs), particularly those in rural and remote areas.

  • The MoU was signed on October 11, 2023, by Shri Sivasubramanian Ramann, CMD SIDBI, and Shri J. Venkatramu, MD & CEO, IPPB. The partnership aims to leverage IPPB’s rural reach and deep connect with village-level communities and SIDBI’s lending and credit risk assessment models.
  • Additionally, IPPB will support SIDBI’s customers in digitizing the payment mechanisms through its merchant onboarding system and collection solutions like UPI, QR-based solutions, etc. 
  • They will also undertake joint programs to upgrade the skills of Dak Sevaks in supporting credit and other services to micro-enterprises.

Question:

Q.1Who is the CMD of SIDBI who signed the MoU with IPPB?
a. Shri Vivek Joshi 
b. Shri J. Venkatramu 
c. Shri Sivasubramanian Ramann 
d. Smt. Vandita Kaul
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