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
a. Shri Vivek Joshi
b. Shri J. Venkatramu
c. Shri Sivasubramanian Ramann
d. Smt. Vandita Kaul
