PhonePe & SIDBI Launched Digital-first Udyam Assist Registration for MSMEs

Current Context: On 10 September 2025 in New Delhi, PhonePe signed an MoU with the Small Industries Development Bank of India (SIDBI) to launch digital‑first Udyam Assist Registration via the Udyam Assist Platform (UAP).

• The initiative aims to formalise Informal Micro Enterprises (IMEs) by issuing Udyam Registration Numbers and Udyam Assist Certificates entirely online.
• It enables IMEs to access government schemes, tax benefits, business bank accounts, credit facilities, and integrate into the digital payments ecosystem.
• The process is paperless, tech‑driven, and designed for speed, reducing barriers to formalisation.
• Implemented under the Ministry of MSME’s Formalisation Project, UAP has already issued 2.75 crore+ certificates in just over two years.

Question:

Q.1 On 10 September 2025, PhonePe tied up with which institution to roll out digital-first Udyam Assist Registration?
a) RBI
b) NPCI
c) SIDBI
d) SEBI

Answer: c) PhonePe and the Small Industries Development Bank of India (SIDBI) signed the MoU in New Delhi to digitise Udyam Assist Registration.