TG govt., Godrej Capital ink MoU to enhance access to credit for MSMEs
The Hindu
TG govt., Godrej Capital ink MoU to enhance access to credit for MSMEs
Godrej Capital, the financial services arm of Godrej Industries Group, and Telangana government have signed an MoU to accelerate growth and development of micro, small and medium enterprises (MSMEs) in the State by enhancing access to credit and business opportunities.
Godrej Capital said its finance and housing finance subsidiaries, through which it signed the MoU, and the government will work to drive large-scale MSME credit penetration. Their partnership aims to strengthen the MSME ecosystem by enabling improved access to formal credit, particularly for underserved and first-time borrowers.
The focus will be on digital-first lending solutions tailored to the unique needs of MSMEs. Through Godrej Capital’s women-focused initiative Aarohi, a special emphasis will be on supporting women entrepreneurs. The collaboration seeks to bridge the credit gap, foster entrepreneurship and accelerate economic growth across emerging business hubs in Telangana, it said in a release on Wednesday.
“Our government, through the recently-launched MSME Policy, has committed to exploring such partnerships with financial Institutions for increasing access to credit for the underserved MSMEs,” Special Chief Secretary-Industries Jayesh Ranjan said.
“We aim to unlock new growth opportunities for the MSMEs, especially women-led businesses with our tech-enabled lending and quick approvals,” MD and CEO Manish Shah said.
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